Dubai:  Since its launch in March, the plan to build partially submerged and floating homes off the coast of Dubai has attracted a great deal of interest from regional and global investors.

Property developer Kleindienst Group confirmed that 35 residential units have been sold out to investors. The Floating Seahorse project, which will feature 42 floating homes on The World islands, is scheduled for completion by the end of 2016.

“We are excited to be able to officially launch and build it in Dubai. We are confident that it will set a new benchmark in the luxury lifestyle market worldwide for outstanding innovation, contemporary design and underwater living at its best,” said Josef Kleindienst, CEO of Kleindienst Group.

Each Floating Seahorse unit is essentially a boat without propulsion that has its own plot in the Arabian Gulf. It offers luxurious marine-style living spread across three levels, one underwater, one at sea level and an upper deck.  

It is said to be the first of its kind in the world and since it was officially unveiled at the Dubai International Boat Show last March, it has so far received a wealth of interest from investors in the UAE, Saudi Arabia, Qatar, Maldives, Seychelles, The Caribbean, Sweden, Portugal and Norway, among others.

“Since launching the Floating Seahorse, we have been inundated with local, regional and international enquiries. We are excited to not just offer people a once in a lifetime investment opportunity in Dubai but on a global scale,” said Kleindienst.

Kleindienst said they have invested months of research, design and planning into the project, which he believes will set a new standard in the luxury lifestyle market. The project is called Floating Seahorse because the residential units will have an artificial coral reef underneath that will serve as a breeding ground for seahorses.

 “The seahorse is an endangered specie and we will create an artificial coral reef beneath the luxury retreats which will be a protected area in which seahorses can safely live and breed. Very soon, people will be able to see up close and personal the beautiful and elegant Arabian horse of the ocean,” Kleindienst said.

He clarified, though, that the floating residential units won’t be limited to Dubai waters because the same type of properties can be “designed and fabricated” for other resorts and destinations around the world.

The first 42 units will be located about a short boat ride from the coast of Dubai and will be a part of the Heart of Europe, Kleindienst Group’s mega development on a cluster of six islands on The World.

In each Floating Seahorse unit, the master bedroom and bathroom will be totally submerged underwater and will offer breathtaking views of the surrounding coral reel and marine life.

The sea level accommodation will boast floor to ceiling windows, uninterrupted sea views, a fully-fitted kitchen with a dining area and an open plan living area. When the glass façade opens up, the sun deck becomes an extension of the living space.

Owners can use the upper deck for alfresco dining and relaxation, as it will be furnished with an informal bed, a mini bar, a kitchenette and a glass-bottomed Jacuzzi. The deck can also be converted into a bedroom during winter using enclosed retractable drapes.