Recently, the Dubai FDI announced that the number of FDI projects increased by 40 per cent in the first half of 2018 compared to the same period 2017*. Kleindienst Group, the UAE’s largest European real estate developer and creator of the iconic The Heart of Europe on The World Dubai reported today that it is leading Austrian investment in Dubai with its contribution to the total Austrian FDI (foreign direct investment) of 9.3%. According to the latest Dubai FDI Monitor report, Austria is one of the top source markets of FDI in Dubai. This is set to increase as more properties on The Heart of Europe are finished ready for the European Investor Market to enter.
Josef Kleindienst, Chairman of Kleindienst Group: “We take great pride in pioneering Austrian investment into Dubai and making a large contribution to European investments. We have been witnessing an increased appetite from European investors who are looking for a second home or holiday home. Our project The Heart of Europe offers Dubai’s first luxury freehold second-home market in an idyllic island location and we believe this will encourage greater investment from Europe over 2019 and 2020. Europeans are familiar with the concept of second-home, which is relatively new to the UAE, and are eager to invest in it as the prices are more competitive than in their home countries. We are confident that strategic investments will continue to increase as we further progress with our project that will support the UAE’s vision to become a global economic hub.”
Kleindienst reported intense activities over the past few months with the completion of one of its ten luxurious palaces on Sweden Island (Sweden Beach Palace), and recently announced the soft launch of the first hotel on The Heart of Europe is scheduled for December 2018. Portofino Hotel will be the first 5-star family-only hotel in the region. The Heart of Europe development is expected to complete by 2020.