It is said to be the most expensive deal in Dubai’s freehold market during first quarter of this year. The apartment is 14,331 square feet and located on the seahorse-shaped Jumeirah Bay Island.
The other two villas on Jumeirah Bay were sold for Dh41.1 million and Dh36 million. The Palm based development, the Alef Residences secured Dh14.2 million for a 6,912 square feet unit and the 1/JBR sold one of its units for Dh12.97 million.
The Associate Director of Luxhabitat, Brigitte Tenbergen said, “There is still more demand in high-end residential projects from developers. They all have interesting payment plans in place plus prime locations -waterfront properties mainly. Secondary market properties are moving as well but with major price reduction.”
The under development Royal Atlantis Residences has starting to build up a profile. The luxury end of Dubai is experiencing sales both from developers and investors, who want to make an exit.