news: archive: First trade license for The World
First trade license for The World
The first trade licence for business operations on The World islands project in Dubai has been granted to Kleindienst Group, owner and developer of The Heart of Europe project on The World.
A luxury holiday project, The Heart of Europe is made up of six islands that when complete will house private holiday homes, apartment buildings, hotels, floating palaces and a diverse range of retail, entertainment and food and beverage outlets.
“The Heart of Europe project has been a groundbreaking
one - not only literally, when we became the first developer in the world to begin construction on The World, but also as the owners of the very first trade licence to be issued for the development. We are delighted to part of Dubai’s history,” said Josef Kleindienst, CEO of Kleindienst Group.
The licence was awarded by the Dubai government department for planning and development within the Ports, Customs and Free Zone Corporation. Chris O’Donnell, CEO of Nakheel, the master developer of The World project, said: “The award of the first trade licence on The World is a momentous occasion for both Nakheel and, more importantly, for Kleindienst Group.”
Construction on the first two islands began in February this year, with completion of 20 luxury villas on Germany island scheduled for the end of Q1 2011. Thirteen villas are already sold. Development of the full project will be complete in 2015.
