Press Release: Dubai Hills mansion sells for AED 128 m

The villa was sold within less than a month of listing off-market.

25 May 2022, words by Aneesha Rai in The Market

Dubai Hills

LUXHABITAT Sotheby’s International Realty is proud to announce the private sale of a Dubai Hills Grove mansion on the ‘Street of Dreams’ at AED 128 million, making it the most expensive villa sold in Dubai Hills this year to date. With a built-up area of 34,113 sq ft sitting on a plot of 42,518 sq ft, the seven-bedroom mansion was sold brand new. Never being lived in and in pristine condition, the home has a modern meets classic design with full golf course, lakes, and Downtown views. Besides its seven ensuite bedrooms, the villa also has an entertainment/ games room, a gym, spa, cinema room, and pool in addition to a rooftop terrace. The villa was listed off-market and was sold within a month. Both buyer and seller chose to remain anonymous.

The ‘Street of Dreams’ is a coveted cul-de-sac in the Dubai Hills Grove sub-community of the Dubai Hills area. It hosts only 26 mansions and is one of the preferred addresses of the city’s wealthiest residents, where the villas are currently valued at AED 100 million plus. When initially released, the villas were bought shell and core for the owners to refurbish and make their own, giving rise to a range of architectural and interior styles. In recent times, LUXHABITAT Sotheby’s had also sold a mansion called ‘The Tree of Life’ in the same area last year for AED 103 million - at the time it was also the most expensive villa transaction in Dubai Hills.

LUXHABITAT Sotheby’s International Realty closed the deal on behalf of both buyer and seller. Renit Shah, Senior Global Property Consultant at LUXHABITAT Sotheby’s International Realty represented the buyer. He shares, “The buyer was looking for a brand new fully furnished villa, where they could move in right away. The home has the right attention to detail in terms of furnishing and a high-quality modern meets classic look, which was exactly their taste and preference.” Renit also lists the mansion’s open view to the golf course, privacy and security that tipped the buyer over to purchase the home. “This villa has a very inviting feel to it, with neutral tones that appealed to the buyer right away.” He adds.

The buyer was looking for a brand new fully furnished villa, where they could move in right away.

- Renit Shah, Senior Global Property Consultant

There has been a limited availability of ultra-luxury, brand new, fully furnished & ready to move in villas to buy and move into right away in the market. Dubai Hills is one of the few areas in Dubai that offer these in addition to its appeal as a newer development. The area has recorded over AED 3 billion in sales this year to date, according to the Dubai Land Department.

Read the complete press release here.