Underwater Villas, Priced At Dhs5m, Go On Sale At Dubai’s World Islands

Underwater villas priced at Dhs5 million are being launched for sale at the Heart of Europe project on Dubai’s World Islands, it was reported on Thursday.

Project developer Kleindienst Group has sent out invites for an exclusive pre-launch, which is taking place on February 7, local media reported.

Two floors of the villas will be overwater while one level will be under water, the developer said.

The villas, spread across 1,700 sqft, are expected to be ready in 2017, and Kleindienst is offering investors a construction-linked payment plan.

The Heart of Europe project, stretching 4km from the city’s coastline, includes a cluster of six islands, with one main Europe island and others themed around Monaco, Germany, Sweden, St Petersburg and Switzerland.

The development will include luxury hotels including a five-star wedding hotel, an aviary and waterpark, among other attractions, its website says.

It will also feature the world’s first ‘rain and snow’ lined streets, outdoor climate controlled areas and the world’s largest open aquarium.

Work on the project, which stalled after the developer entered into a dispute with Nakheel – the master developer of the World Islands project – resumed in May 2013, after Kleindeinst paid Dhs622 million.

The World Islands, located just off the coast of Dubai, comprises 300 man-made islands, and adds over 232 kilometres of new beachfront to Dubai’s coastline.

Up to 70 per cent of the islands were sold when the project was originally launched but work stopped after developers were hit during the financial crisis in 2008/2009.

Work has since restarted in parts of the development, and last month, developer OQYANA Real Estate announced that a series of private island villas are set to be developed on the Australasia continent.

The developer said it has signed a deal with floating island expert Dutch Docklands to create the villas within the OQYANA World First development.

In November, Dubai-based Q Group, which is developing the Great Britain Island, said it is set to reveal plans for a luxury resort, private and water villas, hotel serviced apartments, an event and wedding venue, offshore restaurants and bars, and water-based experiences on the island.