Heart of Europe developer says property handovers to start in December

Heart of Europe developer says property handovers to start in December

The Heart of Europe, the $5 billion (Dh18.3 billion) luxury tourism destination off the Dubai coastline, will start handing over private villas and beach palaces to investors in December, it was announced on Monday.

Developer Kleindienst said the handovers will be part of its phased delivery of about 2,000 residential and hospitality units in phase one of the project.

The announcement comes as construction of St Tropez, the fifth hotel of phase one, is nearing completion and will recreate the famous French Riviera town with a private long beach, restaurants, promenade and luxury yachts and boats.

Overall, the ultra-luxury island will host around 4,000 units spread across 15 hotels and resorts in a cluster of inter-connected six islands and a floating Lido Island about 4km off the Jumeirah coast of Dubai.

Phase one components will commercially open once the situation normalises after the Covid-19 pandemic, Kleindienst said.

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It added that construction of the project's landmarks, including the Floating Seahorse Villas, Sweden Beach Palaces, Germany Island Villas, Honeymoon Island, Portofino Hotel and Côte d'Azur Resort, are "progressing in full speed".

“At the beginning of the year, we made a commitment to deliver part of the phase 1 of the Heart of Europe to the owners by the