Dubai-based property developer, Kleindienst Group, has said that its Floating Seahorse Villas have been registered as villas by Dubais government authorities, which could potentially mean that owners will be able to own ocean plots for the first time in the world, it said in a statement.
The developer said that it had obtained approvals from both the Dubai Land Department (DLD) and Real Estate Regulatory Authority (RERA) for the Villas. Out of 131 units, it will hand over 78 units in 2019, with each Villa priced at $5.45 million, it added.
The statement added that the Floating Seahorse Villas will only be known as Villas. They are being developed by the groups Heart of Dubai development. Each villa spans more than 4,000sqft across three levels.
Furthermore, the company claimed that the buyers of the floating villas would be able to own the ocean plot beneath the structures. However, it added that this was subject to authority approval.
“The registration of The Floating Seahorse Villas as a Villa is the first step to enabling people to have a title deed to their own piece of ocean. It will make true ocean-living a reality for the first time in the world,” said Josef Kleindienst, founder and chairman of Kleindienst Group, in the statement.
The developer added that it had the permission to apply this title to The Floating Seahorse Villas in other locations if it chooses in the future.
