In a significant transaction, a six-bedroom villa on Dubai’s prestigious Jumeirah Bay Island has been sold for a staggering AED 240.5 million (US$65.47 million), marking one of the city’s most expensive residential deals to date. The sale was handled quietly by Saudi Arabia Sotheby’s International Realty, known for its expertise in high-end property transactions.
The 18,800-square-foot villa, situated on the renowned “Billionaires’ Island” due to its concentration of affluent residents, was listed as a discreet “pocket listing,” requiring no formal marketing efforts. According to Erick Knaider, Managing Partner at the brokerage, the property was originally intended as a private residence, meticulously designed with a luxury boho aesthetic that harmonizes effortlessly with its surroundings.
“This villa is a testament to bespoke luxury,” Knaider commented, emphasizing its minimalist yet elegant interiors and premium amenities. The property boasts a range of features including a playroom, cinema, gym, underground parking with an elevator, office space, two primary suites, and dedicated staff accommodations. Every detail, from the custom-made furniture sourced globally to the top-quality finishes, underscores its appeal to discerning buyers seeking exclusivity and comfort.
The transaction, finalized recently, reflects Dubai’s robust luxury property market, which has seen a surge in activity and record-breaking sales since the onset of the pandemic. In the first quarter of this year alone, Dubai led global markets in super-prime property purchases, with 105 homes priced at US$10 million or more changing hands.
The identities of the buyer and seller involved in this landmark deal have not been disclosed. However, the sale underscores Dubai’s status as a magnet for high-net-worth individuals seeking unparalleled residential options in a dynamic and thriving global city.
As the luxury real estate sector continues to thrive, fueled by strong demand and strategic investments, Dubai remains at the forefront of global property markets, setting new benchmarks in residential excellence and investment potential.
