Gulf Construction Online - Next generation of ocean living unveiled

Real Estate

The Floating Seahorse villas ... offering owners a piece of the ocean.

Next generation of ocean living unveiled

01 March 2019

Kleindienst Group, the UAE’s largest European property developer and creator of The Heart of Europe, has unveiled the next generation of ocean living following the government’s recent approval for the world’s first floating structure now registered as a villa.

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 a pioneers of ocean ownership, subject to authority approval, says Kleindienst Group.

When pushing the boundaries of real estate development, new regulations and approvals are required to secure and increase the asset value, states the European developer.

Therefore, this new registration and classification of The Floating Seahorse as a villa by the government earns another world-first for Dubai, making ocean living a reality not just a dream, it states.

Kleindienst has now initiated the plot sub-division application process. 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 per cent and 50 per cent of the total asset value.

Founder and chairman Josef Kleindienst says: “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,” he added.