Leading global real estate consultancy, Knight Frank is pleased to announce the successful sale of Villa R8, a distinctive property located within Al Barari community. The custom-built villa, spanning 11,646 sq ft on a 12,905 sq ft plot, has been sold for AED 42 million.
Villa R8 showcases meticulous craftsmanship and modern design features. With finishes including Calcutta marble flooring, a Poggenpohl kitchen, Gaggenau appliances, and comprehensive home automation, the property offers a harmonious blend of luxury and functionality. The villa's furnishings, provided by Fendi and Minotti, along with specially commissioned artwork, contribute to its distinct ambiance. Noteworthy architectural elements include a floating primary suite that provides serene views of the surrounding green gardens.
Al Barari's reputation as a prime luxury destination remains persistent, experiencing a notable 14% year-on-year increase in property prices. Villa R8 joins the roster of ultra-prime $10 million-plus sales in Dubai. According to Knight Frank’s Dubai Residential Market Review, 2023 report, Dubai is positioned as the global leader for $10 million-plus homes, with over 188 such properties sold during the first half of the year.
Al Barari represents one of Dubai's most eco-friendly communities, attracting new residents while continually introducing new retail outlets, dining options, and amenities, including upcoming communities like Chorisia.
Dubai is experiencing a widespread positive impact. With 368 units due in the city’s prime neighbourhood of the Palm Jumeirah, Emirates Hills, and Jumeirah Bay Island, combined with the global trend of affluent individuals seeking green sanctuaries, it’s leading to the rapid rise of inland communities towards prime status. One noteworthy example is Al Barari, which is poised to join the exclusive list of Dubai's prime neighbourhoods.
With a 111% price increase since January 2022, Al Barari is now on par with Dubai’s established prime areas that have seen capital values grow by 125% during the same period.
The sale of Villa R8 stands as a significant milestone, reflecting Al Barari's position as a prominent luxury destination. This accomplishment reiterates Dubai's status as a hub for luxury real estate while reaffirming Knight Frank's commitment to facilitating exceptional prime residential transactions.
