Dubai developer offers European passport to eligible investors in its island project

Dubai developer Kleindienst Group has announced that investors in its luxury Heart of Europe island project will now be eligible to receive a European passport when meeting certain conditions.

As part of the offer, available in summer, those investing over Dhs5m in phase 1 property will automatically qualify for a free Moldovan citizenship based on applicable terms and conditions, a statement said.

The offer is valid until September 2019.

Moldova launched its citizenship-by-investment programme last year which requires foreign citizens to invest at least 100,000 euros ($111,263)(single applicant), 115,000 euros (couple), 145,000 euros (family of four) or 155,000 euros (family of five or more) in the Public Investment Fund (PIF) .

The country offers its citizens visa-free travel across the Schengen area in Europe and 121 global countries.

Josef Kleindienst, founder and chairman of Kleindienst Group said: “With the demand for nationality by investment growing globally, especially amongst residents in the Middle East and Asia who are looking for more stability and security than their current passports offer, we found this element to be of great added value to our investors, and have already started receiving very positive feedback from our clients.”

The Kleindienst group said it is also providing other special programmes to buyers looking at smaller investments.

Located in Dubai’s World Islands, Heart of Europe features six islands in total, which will offer 4,000 units when fully ready, including 13 theme hotels and the floating seahorse villas.

Kleindienst said it has sold 100 per cent of the first phase including Sweden Island, Germany Island, St Petersburg Island and over 80 floating seahorse villas.

Read: Dubai’s Heart of Europe sees ‘record’ sales in Q1 as demand for second homes grow

The first phase is scheduled for handover by end of 2019, with 61 per cent of the construction completed to date.

Read: Video: New floating villa unveiled in Dubai’s Heart of Europe, handovers to begin in 2019