Dubai’s luxury real estate market has witnessed yet another record-breaking transaction, as a prime residential plot on Jumeirah Bay Island was sold for Dh182 million (approximately $50 million). The prestigious land plot, spanning 25,441 square feet, was acquired at a rate of Dh7,154 per square foot by an ultra-high-net-worth individual who intends to build a custom home on the island.
The transaction was successfully closed by Unique Properties, a leading firm in Dubai’s ultra-luxury real estate sector, and was facilitated by Vanessa Sevsky. Commenting on the deal, Arash Jalili, Founder and CEO of Unique Properties, stated:
“Securing a plot on Jumeirah Bay Island is a significant achievement, given its status as one of Dubai’s most exclusive real estate locations. This deal was the result of months of strategic negotiations and planning to pinpoint the ideal opportunity. In the end, we successfully acquired an outstanding plot for our client. This sale highlights our steadfast dedication to providing top-tier investment opportunities in Dubai’s ever-evolving real estate market.”
Jumeirah Bay Island: The Epitome of Luxury
Also known as Billionaire Island, Jumeirah Bay Island is an exclusive residential enclave off the coast of Jumeirah. Developed by Meraas Holding, the island is shaped like a seahorse and spans 6.3 million square feet. It is home to a curated selection of luxury waterfront residences, low-rise villas, a boutique resort, a world-class marina, and the prestigious five-star Bvlgari Hotel. The island is connected to the mainland by a 300-metre bridge, offering unparalleled exclusivity and connectivity.
Dubai’s real estate market has seen a surge in demand for ultra-luxury properties, driven by an influx of international buyers seeking stability, luxury, and long-term investment opportunities. The city’s low-tax environment, investor-friendly policies, and golden visa programme have further cemented its reputation as a global hub for high-net-worth individuals.
The Growing Trend of Custom-Built Luxury Homes
The buyer of the Dh182 million plot plans to develop a private residence, reflecting a growing trend among ultra-high-net-worth individuals to build custom homes tailored to their preferences. This shift highlights the increasing demand for personalization and exclusivity in Dubai’s luxury real estate sector.
Armin Jalili, Partner at Unique Properties, emphasized this trend, stating:
“In recent years, we’ve witnessed a clear shift in buyer behaviour — today’s ultra-high-net-worth individuals are not just investing in Dubai; they’re choosing to create their dream homes here. The desire for exclusivity and personalisation has never been stronger, and Dubai continues to offer unmatched opportunities in this space.”
Dubai’s Luxury Market Continues to Thrive
As Dubai’s real estate sector continues to attract high-profile investors, transactions like these reaffirm the city’s position as a premier destination for ultra-luxury living. With its world-class infrastructure, investor-friendly policies, and an ever-growing market for bespoke luxury properties, Dubai remains a key player in the global real estate landscape.
For more updates on Dubai’s luxury real estate market, stay tuned to our latest news and insights.
