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Dubai’s Floating Communities: The Next Frontier in Real Estate

Dubai’s Floating Communities: The Next Frontier in Real Estate

In Dubai, where innovation defies limits, The Floating Venice by Kleindienst Group is redefining luxury real estate. Part of The Heart of Europe project within the World Islands, this AED 2.5 billion ($680 million) resort, launched in 2025, offers 414 cabins across four decks, including underwater suites, inspired by Venice’s canals. As Dubai’s property market surges—45,000 new units in 2024, 50,000 more expected in 2025—floating communities captivate wealthy buyers seeking exclusivity. 

Located 4 kilometers offshore, The Floating Venice features gondolas, 24 acrylic-bottomed pools, and a 400,000-square-foot coral reef nursery. With underwater lobbies and submerged restaurants, it targets ultra-wealthy buyers, with suites starting at AED 3 million ($817,000). The broader Heart of Europe, including Floating Seahorse Villas now valued at AED 20 million, draws investors from Saudi Arabia (40%) and the UAE (28%). Dubai’s real estate boom, with $5.44 billion in Q1 2024 transactions, fuels demand, bolstered by dual licensing as vessels and villas for asset flexibility.

As Dubai’s 18.7 million tourists in 2024 flock to its shores, The Floating Venice epitomizes the emirate’s bold vision.

Photo credits: The Heart Of Europe. 

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Alexander Agafiev Macambira

Alexander Agafiev Macambira is former tech contributing writer for Forbes Monaco.

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