Image: Belleview Real Estate
Early this month, a custom-built private villa was sold for AED 280 million (US$76.2 million), breaking the record for the most expensive home in the ‘City of Gold.’ Listing agent Conor McKay of Belleview Real Estate was in charge of the property’s management. The property was sold by the award-winning luxury real estate broker for roughly 33% more than the previous record of AED 185 million (US$50.3 million) established in 2015.
A transaction of this scale, according to Zhann Jochinke, COO of Dubai-based real estate platform Property Monitor, demonstrates the continuous strength of Dubai’s property market, particularly in the ultra-high-end category.
The huge mega villa, which covers 33,300 square feet and has ten bedroom suites, stands majestically on Palm Jumeirah along the shoreline. Indoor and outdoor pools, a seven-star spa, a personal hair salon, and a 70-meter private beach are all available. The mega villa boasts a limitless quantity of state-of-the-art living areas, all finished to the greatest conceivable specifications, adding to the property’s opulence and grandeur.
Huge roof terrace. Image: Belleview Real Estate
The mega villa, according to McKay, is the only property on the artificial island with an indoor swimming pool. A gym, sauna, theater, wine cave, aquarium, and a large rooftop patio with a hot tub are all available.
The residence’s interiors are finished with imported and hand-selected marble from Italian furniture makers Giorgetti and Minotti. The spa area and the bathroom of the principal bedroom suite, which includes multiple lounge spaces and a huge dressing room, include the highest grade A, book-matched slabs.
Double-height ceilings and walls of windows can be found throughout the house. Image: Belleview Real Estate
Since the launch of Covid-19, Dubai has had a strong market, according to McKay. In the first quarter of 2022, more properties priced over $10 million were sold than in any previous year since 2015.