Dubai underwater villa project yet to be approved

Developer says there are no plans for further sales as the project is still in discussions with Nakheel.

The villas, given an initial price of Dh5 million, will be located in the Heart of Europe chain of islands in the offshore development. Courtesy Kleindienst Group
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DUBAI // Approval for an underwater villa project on The World islands has yet to be granted, says master developer Nakheel.

A sale of the partially submerged villas on the artificial islands off Dubai’s coast was announced last Saturday.

The 1,700 sq ft villas, pegged at an initial price of Dh5 million each, feature a floor below water level and two floors on the surface in a cluster of islands known as the Heart of Europe.

Nakheel said it was still discussing the underwater villas proposal with Kleindienst, the developer that submitted the proposal.

“All developers are required to submit the development proposals for their respective islands to Nakheel and the appropriate authorities for approval before any construction can take place,” said Nakheel.

Kleindienst has said that it has no plans for further sales until approvals are granted.

“Our underwater villas are on a boat and can be moved, therefore this arrangement requires maritime authority approval,” said Josef Kleindienst, chairman of Kleindienst Group, adding that his company had already sold some of the underwater villas to Privilege Dubai.

The sale event was described as a VIP pre-launch for investors and end users for the properties which were expected to be completed in 2017.

Buyers have been assured of a construction-linked payment plan.

Kleindienst’s website said each island in the Heart of Europe would be inspired by locations around the continent.

Construction started two years ago for the project that was announced in 2009 after the Kleindienst Group agreed to pay an outstanding balance of Dh622 million to Nakheel over their financial dispute.

Asked whether there were any pending dues, Nakheel said the matter was confidential.

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