Mon, Feb 4, 2019

Real Estate & Property
Ocean living comes to Dubai

Ocean living is set to become a reality with the Dubai Government’s recent approval of the world’s first floating structure launched by Kleindienst Group and it being registered as a villa.

When pushing the boundaries of real estate development, new regulations and approvals are required to secure and increase the asset value. Therefore, this new registration and classification of the Floating Seahorse as a Villa by the government earns another world-first for Dubai, said the company.

Kleindienst Group, the UAE’s largest European property developer and creator of The Heart of Europe, has revealed that buyers of the Floating Seahorse Villas will potentially be the first globally to own not only the structure but also the ocean plot beneath as pioneers of ocean ownership, subject to authority approval. Kleindienst has now initiated the plot sub-division application process, the company said.

Inspired by Dubai Government’s visionary leadership to embrace new concepts in all industries, this new category of property will set an example globally for many more ocean developments to come, it said.

In the Heart of Europe specifically, the Floating Seahorse Villas will be known only as villas and by adding ocean ownership through the title deed, it will significantly increase the value of each villa. Once completed, it will allow owners to treat their property in the same way as an on-shore one and the plot on which a property sits is usually valued between 20% and 50% of the total asset value.

Josef Kleindienst, founder and chairman of Kleindienst Group, said: “The Heart of Europe is a pioneering resort development introducing the new concept of second homes to the region and now this world first. The registration of The Floating Seahorse Villas as a villa is the first step to enabling people to have a title deed to their own piece of ocean. It will make true ocean-living a reality for the first time in the world.” 

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