Luxhabitat Sotheby’s International Realty has announced that it has successfully closed the record largest residential land sale in Jumeirah Bay Island for AED 180 million (USD 50 million). The land, which is consists of LV21 and LV22 plots, crosses across an enormous 46,222 square feet of prime beachfront location.
Jumeirah Bay presents premier beachfront real estate for ultra-high net worth individuals to build their dream homes, a preferential location for Dubai’s billionaires resembling Monaco’s Larvotto district. Jumeirah Bay has the greatest density of billionaires on a single stretch in the United Arab Emirates, surpassing Palm Jumeirah, Dubai Hills, Emirates Hills, when it approaches to the density of billionaires per square metre (sq. m). According to the Dubai Land Department, over AED 953 million in sales have been recorded in this vicinity between January 1 and July 31, 2022.
Dr. Taieser Al Saati, an Executive Partner at Luxhabitat Sotheby’s International Realty said that this is the highest value sale since Jumeirah Bay opened 13 years ago. The company anticipates prices to increase further in the upcoming 12-24 months to reach AED 5,000 per square feet, particularly with the scarcity of beachfront plots in the region. The holders obtaining these plots are considering building mansions and colossal villas, gaining access to the marina and the beach frontage.
The sale of this plot in Jumeirah Bay Island breaks the previous record of Luxhabitat Sotheby’s having sold a site in the neighbourhood for AED 150 million in January 2022, executed by Dr. Al Saati.
Residential plot sizes on the Island extend from 16,000 to 37,000 square feet. In comparison with Palm Jumeirah’s 4,000 plots, Jumeirah Bay has no more than 128 plots, making them extremely coveted and special, with eighty-two plots facing further inland and forty-six plots fronting the inner bay.
Jumeirah Bay Island offers residents with an unsurpassed location positioned between Downtown Dubai and the World Islands. The seahorse-shaped Island with low rise apartments, villas, a boutique resort, and a marina, also features the five-star Bvlgari Hotel.
About Luxhabitat Sotheby’s International Realty
Luxhabitat Sotheby’s International Realty is headquartered in Dubai, Luxhabitat Sotheby’s International Realty emphases on residential and commercial luxury sales and leasing, institutional investments, luxury property management, and luxury project developments in the United Arab Emirates (UAE) and afar. Luxhabitat Sotheby’s International Realty signifies the marketing and sales partnership between Sotheby’s International Realty brand in the entire GCC region.
Luxhabitat, a design-headed real estate marketing and technology firm. Luxhabitat Sotheby’s International Realty is the largest and strongest marketing and selling platform for luxury real estate in Dubai, making them the leading luxury real estate brokerage in the market. The company is fixated in obtaining the finest quality properties in premium residential areas such as Palm Jumeirah, Emirates Hills, Jumeirah Islands, Al Barari, Jumeirah Golf Estates, Meadows, Lakes, and Arabian Ranches and the finest apartments and penthouses in upscale buildings such as Le Reve, Six Towers, Burj Khalifa, Index Tower, The Address Hotels, amongst others.