Super-prime villa on Dubai’s Palm Jumeirah sells for $32.5m

The popularity of super-prime villas on Dubai’s Palm Jumeirah shows precious little signs of abating with news of the latest sale, which at AED119.5 million ($32.5m), becomes the most expensive villa sold in the emirate since 2015.

The two-storey 12,140-square-foot villa, in the exclusive XXII Carat beachfront community, is spread across a 26,033 sqft plot featuring a private beach, private pool and landscaped garden.

The new villa has seven ensuite bedrooms and will be fully customised with high-end finishings featuring the finest European furniture brands, Italian marble and a one-of-a-kind crystal bathtub.

The spacious layout will also include extensive outdoor kitchen and bar areas and an indoor steam room.

Prior to this, the most expensive villa sold in 2021 was One100Palm for AED111.25m followed by a villa in the same XXII Carat complex for AED105m.

The sale places the villa as the second most expensive villa ever sold in Dubai with another Palm Jumeirah mansion fetching AED 185 million in 2015 which was sold by Chris Boswell.

XXII Carat is a gated residence comprising of 22 mansions on Palm Jumeirah, designed in a Mediterranean architecture style inspired by the opulence of European living. Amenities include a private beach club, dedicated 24×7 concierge service and a residents-only clubhouse.

Russian-based Forum Group Company, the developer of XXII Carat, confirmed the deal and purchase amount, although due to the privacy of the gated residence, the buyer is to remain anonymous.

Ultra-luxury property deals in Dubai are booming with one real estate broker reporting more than AED250m ($68m) worth of transactions in the first quarter of 2021.

Luxhabitat Sotheby’s said the total deals in Q1 represented nearly double that seen in the first half of last year during the initial impact of the coronavirus pandemic.

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Author: Arabian Business

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