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Cyrus Engineer

Managing Director, Shapoorji Pallonji International Property Developers

Josef Kleindienst

CEO, Kleindienst

Exciting and innovative projects, one including man-made islands and the planting of coral reefs, are using sustainability as their foundation. Dubai's real estate investors are looking forward to these new greener offerings.

Can you give us an overview of your current projects?
CYRUS ENGINEER Imperial Avenue is our flagship landmark product in the heart of Dubai and has fabulous views of downtown. It is a 45-story tower, with five levels of podium parking, 400 premium luxury apartments, and two infinity pools. We also have an indoor sports facility and a small auditorium, as well as an indoor squash court. We have 40,000sqft of landscaped podium and a 3,000-sqft gym. We used 6D BIM, a building image modeling program that ensures the mechanical, electrical, and plumbing components are planned in the most optimal and efficient manner during the development stage. Our facilities’ management costs are exceptionally low, and we do preventative maintenance so we know what and why something has gone wrong. We use solar panels to meet the heating needs of all occupants. Occupants’ energy consumption footprint is minimal, and we are reusing gray water for the horticulture needs of the development. Our second flagship product is our Dubai Healthcare City project, a residential development positioned as a mid-market product. In terms of location, it is strategic. The project creates residential apartments to meet the needs of a community of doctors and nurses in Dubai Healthcare City. It is a freehold property, so it will also be attractive from an investor perspective.

JOSEF KLEINDIENST The first nine Floating Seahorse (FSH) villas within the Heart of Europe development are quite literally being ‘floated’ into position. The villas are being hoisted into place by construction cranes and anchored into position on the seabed. The heart-shaped, Maldivian-inspired island will host a five-star hotel and 78 FSH villas, ready for handover in 4Q2020. Our villas are designed with creative imagination and engineered through innovation, ingenuity, and precision. We were the first in the world to develop a luxury floating and underwater living experience. To date, over 80 of the 131 units have been sold. As soon as phase one is completed, Kleindienst will turn its attention to delivering the 992 hotel rooms, suites, and deluxe apartments that will showcase some of the best attributes from the luxury resorts of Monaco, Nice, Cannes, and St. Tropez. This is due to be delivered by 4Q2021 and will feature picturesque courtyards, swimming pools, landscaped gardens, and hotel suites with ensuite viewing decks and sea views. Other features of the island include beautiful beaches, over 500,000sqm of coral reefs (with 100,000 new corals planted annually), 60 Spanish olive trees between 100 and 1,500 years old, and the world’s first climate-controlled rainy street and snow plaza.

Why would you encourage to buy in Dubai?
CE Dubai has many positives from a real estate perspective. The rental yields in Dubai are amongst the world’s highest. On average, you could look at rental yields starting at 5% and going all the way to double digits, depending on the configuration and location. That is something not typically seen in other markets. This is an attractive proposition to international investors. Dubai has been on the forefront of technology as well. Dubai attracts the best professionals and ensures that the end product is right up there in terms of quality.

How are the innovative ‘floating’ properties structured?
JK The AED20-million FSH villas are made of fortified concrete and are built to last more than 120 years. They cover more than 4,000sqft over three levels and can sleep up to eight people. This includes a spectacular underwater floor with two coral gardens teeming with marine life and four-flexi living or sleeping areas, with state-of the-art technology and outdoor climate-control features. A signature collection is also available that can be tailored to suit the buyer’s taste, including premium quality finishes ranging from flooring to kitchens, bedrooms and bathrooms, and customized outdoor areas to optimize privacy.



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