Mr Kleindienst said most of the buyers were from the Middle East, but he has noticed a surge in interest from Japan.
He is targeting the European market as “there are 15 million people in Europe who can afford our properties”, he said. “The biggest real estate investment companies are not involved in the Dubai market yet.”
Mr Kleindienst said the Portofino Hotel in the Heart of Europe will also be fully operational by the end of the year.
Only families will be allowed to stay at the 452-room five-star hotel.
He said work only began on the project this year as the company wanted to set a record for being the first hotel in the emirate to open in the same year that construction began.
Inside the Sweden Beach Palace, one of the first parts of Dubai's The World islands to near completion. Chris Whiteoak / The National
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