Underwater living one step closer to a big splash in Dubai

Floating SeaHorse : Underwater living one step closer to a big splash in Dubai
7 Days November 7, 2015

Floating SeaHorse

The world’s first underwater villas will be under the sea in the UAE next month, the developer behind the audacious Dubai project has revealed.

The Kleindienst Group launched the ‘Floating Seahorses’ – a cross between a villa and a boat, with one floor submerged – at the Dubai International Boat Show earlier this year.

Kleindienst’s group marketing and PR manager Charlotte Sky Ferrey told 7DAYS: “The first floating seahorse is under fabrication now and will be in the water next month. It’s the first one in the world, there’s nothing like it currently existing.”

The project is part of The Heart of Europe development that includes six islands.

The seahorses have been designed and developed in Dubai and will be located offshore from St Petersburg, a short boat ride from the coast of the emirate.

Speaking on the sidelines of the Dubai Property Show in Mumbai, India, this weekend, Ferrey said the developer is expected to officially launch phase three of the project later this month after the earlier two phases – a total of 51 villas – sold out. The project holds 132 seahorses overall.

But some seahorses are already on offer at the exhibition to Indian investors and serious buyers are being invited to view the model home next month.

However, the price of a seahorse is up by a whopping Dhs2.75 million since launch.

Ferrey revealed: “We launched at Dhs5 million. Then straight after the boat show they went up to Dhs5.5 million, then Dhs6 million in the summer… since selling out we’re now launching at Dhs7.75million.”

Majority of the investors – about 60 per cent – are from the GCC, while about 30 per cent are Indian, she said.

“Of all our products the sea horse is the best seller. Everybody is interested because it’s iconic, it’s different, it’s never existed in the world,” she added.

Ferrey insisted Kleindienst underwater villas have been unaffected by the slump in property prices in Dubai.

“Currently everyone is saying that the real estate market is flat but we’re not, we’re something exclusive, not everybody can afford it,” she explained.

The seahorses will be ready to move into in October 2016, while facilities on St Petersberg will also be up and running with cafes, restaurants and more.

Meanwhile, St Petersberg is also currently being reshaped.

“It will be shaped like a heart in line with the project The Heart of Europe,” Ferrey disclosed.

“This will be our first complete project on The World,” Ferrey confirmed.

Posted on November 8, 2015 in Dubai news, Property, Real Estate

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