Dubai: Indian entrepreneur buys second most expensive villa in Emirates Hills

Ultra-prime homes have been in high demand as a large number of high net worth individuals flocked to the Emirate



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by

Waheed Abbas

Published: Tue 17 May 2022, 1:13 PM

Last updated: Tue 17 May 2022, 10:04 PM

A villa in Emirates Hills has been sold for a whopping Dh102.8 million, becoming the second highest ever sale in the prestigious community.

The villa, which has a plot of some 38,000 square feet and a built-up area of 20,000 sq ft, was sold by a Maltese businessman to an Indian entrepreneur.

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Emirates Hills is one of the city’s most well-established and upmarket neighbourhoods, featuring an array of unique, mansion-esque villas situated on leafy streets surrounding the Montgomerie Golf Club.

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The sprawling mansion also backs onto the golf course. The property features floor-to-ceiling windows, five huge bedrooms, a private cinema, a swimming pool and a gym.

Ultra-prime homes in Dubai have been in extremely high demand as a large number of high net worth individuals flocked to the Emirate due to the successful handling of the pandemic by the government.

Of late, high-end areas such as Palm Jumeirah, Emirates Hills, Jumeirah Bay Island, and Downtown have seen prices climb by over 44 per cent.

Myles Bush, a founding partner in the Phoenix Homes, sealed the Dh102.8 million villa deal.

“This is another notch in my career progression. I was behind the largest villa sale of 2017, the largest lease ever recorded in 2018, and the largest land sale of 2019. I’ve worked with the seller before, and both parties were wonderful people to deal with. We have no doubt that future business will be done with both parties. This sale underlines the positive growth trajectory we are seeing in local real estate,” he said.

waheedabbas@khaleejtimes.com


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