While the Dubai International BNoat Show is occuring, Luxury Yachts Team is bringing interesting news, facts and guides of one of the wealthest places on earth, Dubai.

So, today we bring an porject that is so ambitious that it could only take place there – the underwater luxury villa in Dubai. With people are splashing out almost £1 million a pop to actually live under the sea in Dubai, the official launch date of the underwater villa project will be on the first day of The Dubai International Boat Show, on March 3.

SEE MORE: DUBAI INTERNATIONAL BOAT SHOW TO SHOWCASE $272M WORTH OF YACHTS

The 42 underwater villas are part of the Heart of Europe project, a new resort being built by the Kleindienst Group, 4km off the Dubai coast.

The 1,700 square foot apartments are currently being marketed by luxury estate agents Privilege Dubai for Dhs5 million (£894,000).

Each of the three-storey properties will feature a sea-level, which will offer ‘magnificent views of the spectacular sea world. The kitchen, dining room, living room and bathroom will all be on the bottom floor, 13ft under water. On the second floor you’ll find your master bedroom and bathroom and then there’s a roof terrace on the top level for gazing out over the ocean.

Udhay Lall, project director for the development, which is spread over six European-themed islands, said of the villas which are currently still in the design phase:

They’re not going to be constructed on land. They’re going to be fabricated on dry docks and will be shipped out and positioned in the water where they belong. I think the first one should be out in the water by 2016.

SEE MORE: FULLY ENJOY DUBAI WHILE IT’S HAPPENING DUBAI INTERNATIONAL BOAT SHOW

The Heart of Europe development will also feature ‘rain, snow lined and outdoor climate controlled’ streets, European-style plazas, a five-star dedicated wedding hotel, and the world’s largest open aquarium.

Only in Dubai.