Dubai Mansion Sells for US$65.5 Million in One of the Middle Eastern City’s Biggest Deals
A six-bedroom villa in Dubai has just sold for AED 240.5 million (US$65.47 million) in one of the most expensive deals ever made in the city.
Shopped around quietly, the 18,800-square-foot villa is the priciest ever sold on the seahorse-shaped man-made Jumeirah Bay Island—which has been dubbed “Billionaires’ Island” due to its concentration of high-net-worth residents and significant home sales—according to Saudi Arabia Sotheby’s International Realty, which handled the transaction.
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It was a “pocket listing,” said Erick Knaider, the brokerage’s managing partner, who spearheaded the deal. “There was no marketing for it whatsoever. We didn’t particularly need to push it out there.”
The sellers bought the underlying property “three or four years ago” and originally planned for the home to be their residence, so they “built it for their own tastes,” said Knaider, who was involved in the previous sale, too.
He declined to comment on the identity of either parties involved in the transaction, which closed on Friday.
The villa, which has been sold fully furnished, has a luxury boho feel to it, Knaider explained. “It blends really well with the surroundings,” and is “quite minimalist, leaving room for someone to make the villa their own.”
“The finishes are top-quality, [it has] all the amenities you can think of, it’s really got all the bells and whistles,” he said.
There’s a playroom, a cinema, a gym, an underground parking elevator, office space, two primary suites and staff accommodation.
The furniture, meanwhile, was custom made for the villa and shipped from different places around the world, said Knaider.
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Dubai’s luxury property market has been white-hot since the pandemic, logging a string of record-breaking deals and surging home prices.
In the first quarter of the year, the city was the world’s hot spot for super-prime property purchases, with 105 homes priced at US$10 million or more changing hands in the three-month period.
The article originally appeared on Mansion Global.