A relatively new concept, it is a place where people interact, and share work space and common areas
Property2 weeks ago
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.
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.
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
A relatively new concept, it is a place where people interact, and share work space and common areas
Property2 weeks ago
The second half of 2022 looks more promising for Abu Dhabi’s real estate sector as the market started off the year on a buoyant note backed by mega-developments, Al Etihad Rail expansion, and rising oil prices
Property2 weeks ago
Backed by mega-developments, Al Etihad Rail expansion, and rising oil prices, the second half of 2022 looks promising for Abu Dhabi real estate sector as the market started off the year with promising numbers
Property2 weeks ago
This is the developer’s third sold out project within eight months
Property2 weeks ago
The impact of global inflation on the UAE economy and the Emirate's property market is likely to be limited for now
Property3 weeks ago
Up to 15% rise in villa rents seen in next two quarters as influx of new residents lift demand for residential properties
Property3 weeks ago
Latest Reuters poll of analysts shows a median rise of 7.5% in Dubai house prices in 2022
Property4 weeks ago
Bay Residences: The new beach-front residential complex is estimated at Dh400 million
Property4 weeks ago