Dubai's real estate market has reached a new pinnacle with the record sale of a villa for AED 61.5 million in the Al Wasl District, setting a new standard for luxury properties in this prestigious area.
Developed by Nordic by fäm Real Estate Development, this sale not only marks the highest price ever fetched in the district, but also highlights the unique appeal of what Firas Al Msaddi, CEO of fäm Group, calls the "downtown villas of Dubai."
This remarkable community offers the closest freehold villas to iconic Dubai landmarks such as the Burj Khalifa, Dubai Mall, Jumeirah, Al Wasl Canal, Sheikh Zayed Road, and DIFC, available to buyers of all nationalities. Surprisingly, more than 95% of the Dubai population is unaware that freehold villas can be purchased by all nationalities in this central area, making these villas a rare and valuable opportunity in the real estate market.
The latest offering by Nordic by fäm, a villa priced at AED 76 million, is part of a series of ultra-luxurious, minimally designed residences that cater to a discerning clientele.
These properties stand out in a market where similar luxury homes are priced around AED50 million, demonstrating Nordic by fäm’s commitment to providing exceptional value and design.
The Al Wasl District community is non-gated, maintaining high security with regular patrols while offering low service charges—an exceptional feature given its prime location.
Homeowners enjoy considerable freedom to customize their properties within the reasonable guidelines set by the local authority, DDA, without the need for lengthy approvals or additional fees to the master developer, Dubai Holding’s Meraas.
Nordic by fäm is capitalizing on an identified market gap for minimalist luxury properties with their innovative Nordic initiative. Their Scandinavian-inspired designs, which forgo traditional opulent styles, are proving popular, as evidenced by the initial villa’s record-breaking sale.
The developer is poised to continue this trend with plans to develop ultra-luxury villas worth AED 1 billion, featuring architecture that emphasizes minimalism and incorporates high-quality materials like natural wood from Finland and European aluminium glazing.
As Dubai continues to attract global attention for its dynamic real estate sector, Nordic by Fäm leads the way, redefining luxury and setting new standards in design and transparency in the market. This development is not just about creating high-end homes but also offering an unparalleled lifestyle in the heart of Dubai.
