Dubai is famous for its luxurious lifestyle and extravagant real estate. Unsurprisingly, this city has some of the world’s most expensive villas. The most costly villa in Dubai is a custom-built megamansion for AED 280 million (US$76.2 million) in April 2024.
Overview of the Sale
Record-Breaking Price
Dubai has always been famous for its luxurious real estate properties, and the sale of the city’s most expensive villa ever recorded is no exception. The record-breaking price of $76.2 million (Dh300 million) was achieved by selling a 10-bedroom villa on Palm Jumeirah’s Frond G. The sale has attracted global attention and set a new benchmark for luxury real estate transactions in Dubai.
Property Details
The villa is a massive 33,000 square feet and boasts 14 bathrooms, a private beach, and breathtaking views of the Arabian Gulf. The property features an elegant, modern design with high-end finishes and furnishings. The villa’s spacious living areas, including a grand entrance hall, formal dining room, and multiple lounges, make it perfect for entertaining guests or hosting events.
Location and Significance
Palm Jumeirah is an artificial island that has become one of Dubai’s most exclusive and sought-after residential areas. The island is home to some of the city’s most luxurious properties, including the most expensive villa ever sold. The villa’s location on Frond G, also famous as the Billionaires’ Row, adds prestige and exclusivity. The sale of this property has cemented Palm Jumeirah’s status as one of the world’s most desirable residential addresses.
Key Features of the Villa
Luxury Amenities
The most expensive villa sold in Dubai boasts ultra-luxury amenities catering to its affluent owners’ discerning tastes. The villa’s high-end features include a spa, gym, pool, sauna, hammam, jacuzzi, game room, indoor swimming pool, massage room, and bowling alley. The spa hotel facilities are of seven-star quality, offering guests a pampering experience that is second to none.
Interior Design
The villa’s interior design is a masterpiece that blends Italian marble, Giorgetti, and Minotti furniture to create a luxurious living space. The attention to detail is evident in every room, from the grand entrance hall to the rooftop terrace. The home cinema is perfect for movie nights, while the game room has everything needed for a fun-filled evening. The villa’s interior design is a testament to the skill of the designers who created it.
Exclusive Facilities
The villa’s exclusive facilities are what sets it apart from other high-end properties in Dubai. The private beach is a rare feature that allows owners to enjoy a secluded beach experience. The villa also boasts a seven-star spa hotel facility unrivaled in Dubai. The villa’s exclusive facilities make it the most expensive villa sold in Dubai.
In conclusion, the most expensive villa sold in Dubai is a masterpiece of luxury and exclusivity. Its amenities, interior design, and exclusive facilities make it a prized possession for its owners. The villa’s attention to detail and high-end features are a testament to the skill of its designers and builders.
The Developer and Architect
Alpago Properties
Alpago Properties is a high-end real estate developer who has been shaping Dubai’s landscape for years. The company is part of the Alpago Group, a region’s leading real estate development company. The founder and CEO of Alpago Properties is Murat Ayyildiz, who has a wealth of experience in the construction and real estate industries.
Design and Construction
The most expensive villa sold in Dubai was developed by Alpago Properties and designed by SOATA and CK Architecture. The villa is on what is famousas The Palm’s Billionaires’ Row on Frond G.
It is still under construction, but it is supposed to have 18 bathrooms and a 15-car garage. The villa also has a private beach, a gym, and a cinema room. The villa’s construction is said to have cost over $100 million, which is a testament to the level of luxury and attention to detail that has gone into its design.
Market Context
Dubai’s Luxury Real Estate Market
Dubai’s real estate market is famous for its ultra-luxury properties and is one of the most expensive in the world. The city has a reputation for attracting high-net-worth individuals from all over the globe. In the first quarter of 2023, the off-plan sales market accounted for about 50% of all real estate sales in Dubai.
Global Comparisons
Dubai’s luxury real estate market is often compared to other global cities. The city’s Billionaires’ Row on Frond G is often compared to other prestigious addresses. However, Dubai’s real estate market is unique in its own right, with a strong focus on ultra-luxury properties.
Sales and Demand Trends
The real estate market in Dubai, particularly the Palm, had a very strong year in terms of transaction volume, total transaction value, and highest-valued transactions.
In recent years, Dubai has seen some of the world’s most expensive properties ever sold. The most costly villa in Dubai to date is a custom-built, 33,300-square-foot megamansion that sold for AED 280 million ($76.2 million).
The Buyer’s Profile
Nationality and Background
The buyer of the most expensive villa in Dubai is a Swiss family. However, there is no information available on their background or nationality. It is worth noting that Dubai is a cosmopolitan city and attracts a diverse range of buyers worldwide. The city’s luxurious lifestyle, favorable tax policies, and stable political environment.
Investment Motivations
The buyer’s motivations for investing in the most expensive villa in Dubai can only be speculated upon. The Casa Del Sole villa was developed by Alpago Properties and sold through its exclusive broker, B1 Properties.
It is also worth noting that the villa is in Emirates Hills, one of Dubai’s most exclusive residential neighborhoods. The neighborhood is famous for its high-end villas and mansions and is home to many high-net-worth individuals and celebrities.
Comparative Properties
Dubai is famous for its luxurious real estate, and the sale of expensive properties has become common. The most expensive villa in Dubai was the Double Signature Villa on Palm Jumeirah, which was for Dh302 million ($82.2m) in 2021.
Other Expensive Villas in Dubai
Dubai has several other expensive villas, some of which have been sold recently. One of these is the Riva Del Lusso villa, located on Palm Jumeirah and sold for Dh100 million ($27.2m) in 2021. Another notable villa is the Nakheel Villa on Palm Jumeirah.
Worldwide Luxury Real Estate
In London, for example, Bishops Avenue is famous for its expensive properties, with some mansions selling for over £100 million ($138m). In Manhattan, 57th Street has become famous as Billionaires’ Row due to the area’s high concentration of luxury properties.
Implications for the Real Estate Sector
Market Indicators
The sale of the most expensive villa in Dubai has significant implications for the real estate sector in the UAE. According to Property Monitor, Dubai’s luxury home market reached record levels in 2023, with sales of $10 million-plus homes nearly doubling to $7 billion.
Knight Frank’s January report found that Dubai’s luxury home market is the world’s leading market for luxury home sales. The total value of luxury homes sold in Dubai during the first quarter of 2024 was $1.73 billion, up 6 percent in the same period in 2023. This growth indicates the strength of the Dubai real estate market, and it is likely to continue in the future.
Predictions for Future Sales
The sale of the most expensive villa in Dubai also has implications for future sales in the real estate sector. The sale of the villa for AED 280 million (US$76.2 million) shows that there is still a strong demand for luxury properties in Dubai. This demand will likely continue in the future as Dubai continues to invest in infrastructure and attract high-net-worth individuals worldwide.
In the future, the demand for luxury properties in Dubai will continue to grow. As a result, the real estate sector in Dubai will continue to grow, and the prices of luxury properties will continue to increase.
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Frequently Asked Questions
Which villa holds the record for the highest sale price in Dubai?
The most expensive villa sold in Dubai is a custom-built megamansion located in Palm Jumeirah. The villa was for AED 280 million (US$76.2 million) in 2021 and now holds the record for Dubai’s most expensive villa.
What are the features of the most expensive villa in Palm Jumeirah?
The most expensive villa sold in Palm Jumeirah is still under construction, but it will have 18 bathrooms and a 15-car garage. Other features of the villa include breathtaking views of the sea, a private beach, and a swimming pool.
How much did the most expensive property transaction in Dubai cost?
Dubai’s most expensive property transaction amounted to Dh302 million ($82.2m), the sale price of a villa in Palm Jumeirah named Casa Del Sole. The double Signature Villa was developed by Alpago Properties and through its exclusive broker, B1 Properties.
Can you list some of the most lavish villas sold in Dubai in recent years?
Some of the most lavish villas sold in Dubai in recent years include:
- Umm Suqeim Villa, AED 140 Million
- Mohammed Bin Rashid City Villa, AED 120 million
- Palm Jumeirah villa, Dh302 million ($82.2m)
What is the record sale price for a luxury villa in Dubai’s real estate market?
The record sale price for a luxury villa in Dubai’s real estate market is AED 280 million (US$76.2 million), the sale price of the most expensive villa in Palm Jumeirah in 2021.
Which areas in Dubai are famous for having the most high-end villa sales?
Some areas in Dubai famous for having the most high-end villa sales include Palm Jumeirah, Emirates Hills, and Dubai Hills Estate. These areas are famous for their luxurious amenities, stunning views, and exclusive communities.
