This year, Dubai's real estate residential market saw over 13,875 transactions worth AED 23.93 billion take place, according to REIDIN and the Dubai Land Department. We at Luxhabitat have rounded up the 10 most expensive real estate deals of 2015. Here they are:
Views from the super villa on the Palm Jumeirah
This super mansion ran over 3 plots on the Palm Jumeirah, making one of the most stunning, upgraded beachfront properties on the Palm Jumeirah. Designed by Dallas, Texas-based architects Wilson and Associates, this villa spanned 33,500 square feet over a plot size that exceeded 40,000 square feet. Some of its unique qualities included two grand staircases carved out of a marble block. Other key features included 5 master bedrooms with panoramic views of the sea. This mansion was truly unique, with intricate interior stonework imported from France, foliage and greenery from Malaysia as well as a unique cigar lounge with a custom designed illuminated onyx bar.
2) Emirates Hills villa, AED 93 million
Not much is known about this Emirates Hills villa, besides its price tag and massive area. This villa spanned over a plot at 40,805 square feet with a built up area of 22,792 square feet. The Emirates Hills area remains a favourite amongst luxury property buyers due to the uniqueness of each villa and the prestige associated with these villas.
3) Palm Jumeirah Signature custom villa, AED 68 million
Exquisite villa on the Palm Another gorgeous Palm super villa, this particular villa even warranted an expansive design article on our Journal. Excellently executed, it is designed a contemporary Miami style with triple height atriums and a full-height glass facade, blurring the lines between home and the outdoors. Some of its unique selling points included a fully equipped gym complete with sauna and shower along with a cinema room complete with 3-D projector.
4) M. State villa, Palm Jumeirah, AED 64.5 million
Off-plan M. State villa A point of pride for Luxhabitat; this villa was our most expensive transaction of the year. The M. State villa is an off-plan three storey villa sold to an anonymous buyer. The villa will have a stunning panoramic view of the sea, Dubai Marina and the Palm’s crescent once completed. The project M. State by Ocean Breeze is a boutique collection of five landmark villas on the Palm Jumeirah’s M frond. Some of the villa’s biggest selling points include floating steps, neutral colour schemes and a lovely contemporary design that fits the landscape. Situated on a wide beachfront of 51 m, the villa has a unique oversized infinity pool measuring over 17m long, making it one of the longest private pools on the Palm.
5) Emirates Hills villa, AED 60 million
This Emirates Hills villa was transacted in February 2015 and sold at a price of AED 60 million for a 19,698 square feet villa at a price per square feet of AED 3,046 square feet according to REIDIN and the Dubai Land Department.
6) Emirates Hills villa, AED 53.5 million
The total amount of Emirates Hills transactions that took place this year according to REIDIN was AED 967. 75 million, with over 40 villas sold. The average price per square feet for Emirates Hills according to Luxhabitat analysis was AED 1,143 per square foot. This particular villa sold for AED 2,727 per square foot for a 19,620 square feet villa on a 31,143 square feet plot. This was transacted in the month of August 2015, at a significantly lower price than the above Emirates Hills villa sold in February 2015 at AED 3,046 per square feet, reflective of a stabilising market.
The remaining transaction details are as follows:
7) Emirates Hills villa, AED 46 million
This Emirates Hills villa sold at AED 2,325 per square foot on May 2015 for a villa with a square footage of 19,784 on a plot of 31,402 square feet.
8) Emirates Hills villa, AED 45 million
This Emirates Hills villa sold at AED 3,106 square foot on January 2015 for a villa with a square footage of 14,489 on a plot of 27,864 square feet.
9) Emirates Hills villa, AED 44 million
Sold at AED 2,588 square foot on April 2015 for a villa with a square footage of 14,390 on a plot of 17,000 square feet.
10) Emirates Hills villa, AED 43 million
Sold at AED 2,218 square foot on July 2015 for a villa with a square footage of 19,383 on a plot of 24,229 square feet.
Here's looking to an even more productive real estate market in 2016. See you in the next year!