A six-bedroom villa on Dubai’s exclusive Jumeirah Bay Island has sold for Dhs240.5m($65.47m), marking the highest price ever recorded for a property, on the island.
This sale sets a new benchmark for Jumeirah Bay Island while highlighting Dubai’s rapidly growing luxury real estate market, as it comes just weeks after another villa on the island sold for Dh175m.
Sotheby’s International Realty orchestrated this record-setting deal, noting that the sale significantly surpasses previous records on the island, often referred to as “Billionaire’s Island” due to its high concentration of ultra-wealthy residents and top-tier real estate.
The Size of the villa is 18,800 square feet. Features: The villa is a blend of luxury and minimalism, featuring a playroom, cinema, gym, office space, underground parking with an elevator, two primary suites, and staff accommodations. Interior: The villa boasts custom-made furniture sourced from around the world. Location: Strategically positioned on the seahorse-shaped Jumeirah Bay Island, known for its prime real estate and affluent community.
Erick Knaider, managing partner of Saudi Arabia Sotheby’s International Realty, who spearheaded the sale, emphasised the unique appeal and exclusive nature of the property. “This was a discreet transaction, with no marketing efforts necessary due to its extraordinary allure,” he remarked.
He added, “The island’s unique seahorse-shaped shoreline, coupled with its exclusive amenities, make it an irresistible location for ultra-high-net-worth individuals. Our team’s ability to connect discerning buyers with such exclusive properties continues to set us apart in the global real estate market.”
This sale underscores Dubai’s robust luxury real estate market, which has seen unprecedented growth since the pandemic.
