Underwater villas are set to be the first residences for sale at The World islands off the coast of Dubai, with developer Kleindienst Group announcing a VIP pre-launch for Saturday, February 7.
The three levels of villas, with the lowest under water, are being built on Monaco island, part of Kleindienst’s The Heart of Europe (THOE) project, which covers six islands.
THOE is the first permanent development at The World, a collection of manmade islands in the shape of the world, 4 kilometres off the coast of Dubai.
The 1,700 square foot villas are initially being sold for AED5 million ($1.36 million) – but only investors and end users are allowed to attend the pre-launch.
“Agents please excuse as this is a private event for investors & end users only,” an emailed invitation says.
The villas are expected to be completed by 2017 and payment would be linked to the construction timeframe, the ad says.
Monaco island will offer the only residences within THOE, which also includes Sweden, Germany, St Petersburg, Switzerland and Austria, which will represent mainland Europe with various features from across the continent.
It also will include an exclusive marina and pool, while guests are expected to arrive by private luxury yachts, sea planes or helicopters.
The entire THOE project includes various hotels and entertainment. Kleindienst CEO Josef Kleindienst told Arabian Business last year he intended for guests to be able to spend 14 days at THOE.
The 300 manmade islands that make up The World were built by Dubai developer Nakheel at the height of the emirate’s real estate boom but there has been almost no work on the islands since the economic crisis in 2008-09, when property values in Dubai plummeted as much as 60 percent.
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