Most expensive property in Dubai - SOLD

At AED 121 million, Luxhabitat Sotheby's has sold an exquisite mansion in Jumeirah Bay.

18 Aug 2021, words by Aneesha Rai in Company News

Jumeirah Bay Island - most expensive property in Dubai sold AED 121 million

Luxhabitat Sotheby's International Realty, in conjunction with Pulse Real Estate, just closed the largest property deal of 2021. The exquisite Jumeirah Bay Island mansion was sold for AED 121 million to an unnamed European buyer who they were able to disclose is a member of the Forbes Top 500 richest people in the world list.

This record-breaking deal is further confirmation of Luxhabitat Sotheby’s unrivalled reputation as the ultimate partner for luxury property real estate and comes hot on the heels of their recent successful sale of One 100 Palm, at over 100 million AED. The transaction, the most expensive to be concluded in Jumeirah Bay Island & Dubai so far in 2021, was managed by Carine Abi Nader of Pulse Real Estate and Taieser Al Saati of Luxhabitat Sotheby’s International Realty. Both the firms entered a joint-venture in 2019 and have been a formidable powerhouse in concluding high ticket deals in-house such as the above.

Both agents have extensive experience of the luxury property market and were quick to share their thoughts on what this type of deal signifies for the future. “Due to the aspiring lifestyle changes made by International HNW clientele, fueled by the pandemic, Dubai is becoming the first choice for those looking to relocate business and homes because of the offerings been sought by those within the higher asset classes.” commented Taieser Al Saati. Carine followed up by adding, “Given the international community’s recognition of Dubai, and the UAE, as a stable and growing environment, more and more high net worth end-users are seeing the value of securing assets in this coveted destination. Dubai is also one of the greatest places in the world to find the most extraordinary luxury properties and bring dreams to life.”

Due to the aspiring lifestyle changes made by International HNW clientele, fueled by the pandemic, Dubai is becoming the first choice for those looking to relocate business and homes because of the offerings been sought by those within the higher asset classes.

- Taieser Al Saati , Associate Director

Jumeira Bay

The custom-built villa’s unique features are being kept under wraps for now, but its obvious appeal is certainly enhanced by its enviable positioning. Jumeirah Bay is a prestigious new island neighbourhood situated just off the coast of Dubai. This elite location is fast becoming one of the city’s most exclusive addresses, particular for international investors. As well as commanding sea views and unrivalled amenities, the titanic seahorse shaped community is home to the renowned Bvlgari Resort & Residences, one of only six in the world, and Bvlgari’s first ever marina and Yacht Club. This is truly a playground for the rich and famous.