Pinnacle of luxury living

The opulent Dh82 million four-bedroom villa on Palm Jumeirah's crescent sells to an international investor, affirming Dubai's accelerated real estate market and the exclusivity of the Raffles The Palm Dubai

by

Anam Khan

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Published: Tue 18 Apr 2023, 10:29 AM

With the highly anticipated launch of Raffles Residences and Penthouses, the Palm Dubai has quickly surpassed all expectations, as the ultra-luxury homes, beautifully positioned on some of the most exclusive lands in the world, have since been coveted by high-net-worth investors. In the spirit of this unprecedented demand, Emerald Palace Group (EPG) is proud to announce the Dh82 million sales of the exquisite four-storey, a four-bedroom villa on Palm Jumeirah’s crescent to an international investor — a further affirmation of Dubai’s accelerated real estate market. The historic sale was made by EPG, the Dubai-based developer and owner of the spectacular five-star Raffles The Palm Dubai, the Kempinski Hotel and Residences, and Business Bay's Hyde Hotel Dubai.

When it comes to post-pandemic worries, the four-bedroom villa puts them to rest as purchasers look to profit from the market's quick appreciation in Dubai. The Raffles homes and penthouses at Palm Dubai, which EPG formally opened at the beginning of February, offer 33 ultra-premium, fully furnished two to six-bedroom homes, penthouses, and villas for sale. These properties combine outstanding design, the highest quality materials, and seamless service. The project rapidly became one of the most discussed topics in Dubai’s luxury real estate market. The year 2022 marked a record year for Dubai’s residential market, with over 90,000 units sold for a staggering total value of $61 billion (a 74 per cent increase from 2021). The exceptional demand for homes in Dubai also had a great impact on the sales for projects located on the iconic Palm Jumeirah and especially the Crescent part of the man-made island.

Located at the end of the Palm, these apartments and villas are some of the most luxurious properties you will encounter in the UAE market. In 2022 the real estate transaction value in Palm Jumeirah had risen by 58 per cent (compared to 2021) and reached a total value of Dh15.89 billion. The beautiful property offers amazing 360-degree views that include the entire Palm Jumeirah, the renowned Dubai skyline, the towering Burj Khalifa, Ain Dubai, and Dubai Marina. It also overlooks the Arabian Gulf's crystal-clear seas. The 21,851 sq ft baroque-style home has been expertly designed to the standards of luxury and traditional architecture. Design highlights include furniture from Francesco Molon, chandeliers made from Swarovski crystals, ceilings covered with 24-carat gold leaf, a private spa, massage room, scrub room, hammam, rooftop terrace with jacuzzi and a spacious pool surrounded by a lush garden. “The sale of this villa is a testament to Dubai being one of the leading real estate destinations globally. And the Palm Jumeirah is truly the ultimate residential address in Dubai, if not the world,” said Attallah Salman, group CEO at EPG.

The immaculate move-in-ready villas, without a question amongst the largest and most luxurious of their class in the Middle East, are in high demand against extremely limited supply given the exclusivity of their location; viewings are by appointment only, with pricing available upon request. Dubai, today’s leader in global innovation, continues to set new benchmarks in market performance, with EPG fostering exclusive investment opportunities - the time is now. Raffles' leisure, commercial, and recreational amenities will be advantageous to homeowners due to its strategic location at the Palm.

The Palm Dubai is home to the 5,000 sq m biggest private theatre; Conde Nast Traveler Middle East recognised spas — Cinq Mondes Spa and Sola Jazz Lounge. Other award-winning restaurants for fine dining include the modern Japanese Matagi, the Italian Piatti by the Beach, and the opulent Blüthner Hall, where guests may savour luxurious afternoon teas, gourmet meals, and evening family dinner while listening to live piano music.


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