A concept of the Portofino Hotel at The Heart of Europe.
Heart of Europe’s first hotel 50pc complete
01 September 2019
Dubai’s ambitious project, The Heart of Europe’s first hotel, the family-only Portofino Hotel is around 50 per cent complete, according to the developer of the project.
Two of the islands on the inspiring The Heart of Europe project are more than two-thirds (66 per cent) complete, with Germany Island and Honeymoon Island entering the final stages of build, said Kleindienst – The Heart Of Europe’s July update.
Sweden Island, which will hold 10 luxurious and intricately designed palaces, is 70 per cent complete, it said.
Phase One of this iconic destination is sold out with Phase Two and Three under way and seeing strong demand from European investors, the update adds.
“The sales and construction progress results achieved from the first half of 2019 are a true testimony to the tremendous hard work our workforce of more than 2,000 people is expending every single day to bring our project to life,” said Josef Kleindienst, chairman.
Strong financial results with revenues exceeding Dh575 million ($155 million) has been the highlight for Kleindienst – The Heart Of Europe during the first half of 2019.
The H1 sales interest demonstrates the popularity of The Heart of Europe and supports estimates that there is a latent market demand for between 50,000 and 60,000 second homes in the UAE alone, the update said.
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- Heart of Europe’s first hotel 50pc complete
- In brief
