Sotheby’s International Realty, a real estate brokerage company, announced a new achievement in the luxury real estate market in Dubai, as a six-bedroom villa under construction on Jumeirah Bay Island was sold for $65 million (240.5 million dirhams).
This sale sets a new record for the highest sale on the island located off the coast of Dubai and exceeds the previous record (175 million dirhams) by a large margin, highlighting the strong demand for ultra-luxury real estate in Dubai.
This deal is one of the most expensive villa deals in Dubai, and confirms that the demand for luxury properties still exists. Jumeirah Bay Island is known for its luxury and exclusivity, attracting some of the most expensive real estate deals in Dubai and around the world, and this latest sale has set a new standard for the real estate market on the island, much of which is still under development, highlighting the thriving luxury real estate sector in Dubai.
The six-bedroom villa, known for its architecture, prime location and first-class amenities, embodies the pinnacle of luxury island living. The villa is 18,800 square feet in area.