Largest property deal of 2021 so far was concluded by Luxhabitat Sotheby’s International Realty, in conjunction with Pulse Real Estate
The boom in high end property sales across Dubai shows little signs of abating with the announcement on Sunday of a AED121 million ($32.9m) purchase of a mansion on the emirate’s prestigious Jumeirah Bay Island development.
The largest property deal of 2021 so far was concluded by Luxhabitat Sotheby’s International Realty, in conjunction with Pulse Real Estate.
Although the identity of the buyer remains a mystery, a statement revealed they are European and a member of the Forbes Top 500 richest people in the world list.
Taieser Al Saati of Luxhabitat Sotheby’s International Realty.
“Due to the aspiring lifestyle changes made by international high net worth clientele, fueled by the pandemic, Dubai is becoming the first choice for those looking to relocate business and homes because of the offerings been sought by those within the higher asset classes.” said Taieser Al Saati of Luxhabitat Sotheby’s International Realty.
Features of the custom-built villa are also being kept under wraps for now.
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Jumeirah Bay is a prestigious new island neighbourhood situated just off the coast of Dubai and is home to the renowned Bvlgari Resort & Residences, one of only six in the world, and Bvlgari’s first ever marina and Yacht Club.
Carine Abi Nader of Pulse Real Estate, who managed the sale alongside Al Saati, added: “Given the international community’s recognition of Dubai, and the UAE, as a stable and growing environment, more and more high net worth end-users are seeing the value of securing assets in this coveted destination.”
Carine Abi Nader of Pulse Real Estate
Luxhabitat Sotheby’s International Realty, which entered a joint-venture with Pulse Real Estate in 2019, reported more than AED250m ($68m) worth of ultra-luxury property deals in the first quarter of the year, which included the $30m-plus sale of ONE100 Palm on Dubai’s Palm Jumeirah.