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Kleindienst posts record sales for Q1 2019

Kleindienst Group, creator of The Heart of Europe, announced another record sales quarter of over Dh345 million for its freehold second homes in the first quarter of 2019.
This represents a 69 per cent year on year increase from the first quarter of 2018. Since the end of December, Kleindienst sold 100 per cent of Phase One including Sweden Island, Germany Island, St Petersburg Island, and over 80 Floating Seahorse Villas. With over 2,000 people working on the islands, Kleindienst will hand over Phase One within 2019.
The concept of a second home is a property located outside a major city that requires the owner to drive or sail to for a weekend or staycation. This is not a permanent residence and can be used solely by the owner or as an additional income stream through rental to holidaymakers with a yield from 8-10 per cent. According to Kleindienst's initial research, there is an estimated demand for between 50-60,000 second homes worth around Dh50 billion therefore reinforcing Dubai's readiness to develop the freehold second home concept in line with other major cities around the world.
Josef Kleindienst, founder and chairman of Kleindienst Group, said: "The model for world-class second homes in Dubai is working. The record sales this quarter have reinforced the concept with many investors who now understand the definition of second homes either as a holiday retreat or as a good financial investment with guaranteed returns. Whether you welcome friends and family to spend time on a Floating Seahorse Villa or your suite in one of the 13 hotels, the trend is moving towards second homes and income-generating assets."
Kleindienst is the first developer to use its experience from a mature European market to pioneer the second home concept in Dubai and the UAE as a regional first. It is creating a new destination for vacationers and staycationers alike offering new experiences such as diving amongst coral reefs in a Maldivian-style island setting just 20 minutes from shore and climate controlled streets for an ambient temperature outside all year round.
- business@khaleejtimes.com