Press Release: LV5 plot sold on Jumeira Bay island
Luxhabitat Sotheby's closes an AED 80 million plot deal
Words by Aneesha Rai in The Market · Jan 10th, 2022
Dubai, UAE - Sold to a confidential buyer by Dubai-based Luxhabitat Sotheby’s International Realty, a single LV plot was sold for AED 80 million on Jumeira Bay island. This is the highest price achieved for a single LV plot on Jumeira Bay Island till date This deal comes on the heels of a previous note-worthy transaction on the island, a luxurious mansion on LV1 for AED 121 million in 2021.
The record-breaking deal was transacted by Dr. Taieser Al Saati & Erick Knaider, both working as Associate Directors at Luxhabitat Sotheby’s International Realty. Dr. Saati was also the broker responsible for the aforementioned deal of the LV1.
Dubai-based Luxhabitat Sotheby’s International Realty sold the plot to an anonymous buyer. The waterfront plot LV5 is one of the rare few plots available on the market. The stunningly unique plot not only offer the chance to create a personalised mansion, it also comes with breath-taking views. The plot's rarity makes it a highly sought-after commodity; allowing it’s affluent owners to construct a magnificent home attuned to their liking, all on one of the world’s most enviable island locations.
“As purveyors of the ultra-luxurious properties, having sold the most expensive properties on the island, one after the other in a row, is a great feeling. However, this isn’t the last of it, each successful transaction makes way for the next one up as we have access to multiple new assets on the island that were never available before today.” said Dr. Taieser Al Saati who shared that select few land plots are available off-market with the firm for private buyers looking for something similar on this extremely sought-after Island.
Jumeira Bay Island is an exclusive new community nestled off the coast between the iconic Downtown Dubai and the famous World Islands. Already one of the most coveted addresses in the city, the island is sculpted in the shape of a titanic seahorse and boasts some of the most breath-taking views imaginable. It is also the site for the Bvlgari Resort & Residences, a truly unique haven of luxury. Immense local and international interest in this renowned brand has seen its occupancy soar in recent months, thereby substantially increasing the demand across the whole island complex. Given the limited space available, these rare units are now top of the list for luxury property buyers looking for a bespoke home surrounded by extravagance in a secluded and private environment. The area has seen a tremendous trajectory in transactions totaling upwards of AED800 million in 2021. The rarity of available properties for sale and high-ticket prices makes it a favourite for high-net-worth buyers looking for exclusivity at its peak.