Jumeirah Bay, The Newest Destination For The World’s Wealthy In Dubai
24 April 2023, Globe Echo World News
Jumeirah Bay Island has emerged, during the past few years, as the latest luxury and exclusive residential destination favored by the wealthy, and this island, which has an area of up to 6 million square feet, continues to record prices and record sales deals, including the largest sale of a residential apartment in the history of the market. Dubai real estate, which was sold for 410 million dirhams in the Bulgari Lighthouse tower, which is being developed by Meraas on the island.
An analysis conducted by Al-Bayan of the data of the Dubai Land Department showed that Jumeirah Bay recorded 30 real estate sales deals since the beginning of this year, with a total value of 2.6 billion dirhams. During this period, 5 lands were sold during the period. , with a value exceeding 487 million dirhams, led by a deal worth 125 million dirhams for a piece of land, an area of 24,437 square feet, or a price of 5115 dirhams per square foot, followed by a deal worth 115 million dirhams for a land area of 19,100 square feet, or a price of 6020 dirhams per square foot.
In addition to a land worth 112 million dirhams, an area of 13,784 square feet, at a price of 8,125 dirhams per square foot, in addition to selling two plots of land, the first at 68.4 million dirhams, an area of 24,757 square feet, and the other at a value of 67 million dirhams, an area of 18,010 square feet, at a price of 2,762 dirhams per square foot. and 3720 dirhams per square foot, respectively.
Jumeirah Bay also witnessed the sale of 25 apartments, at a value of 2.1 billion dirhams, of which 18 apartments were sold off-plan in the Bulgari Lighthouse project, and one apartment in Bulgari Residences «BV Residences», with a total value of more than 2 billion dirhams, in addition to 6 ready apartments in Bulgari Residences. , at a value of 165 million dirhams.
In addition to the sale of the most expensive apartment in the history of the Dubai real estate market, which was sold for 410 million dirhams in the Bulgari Lighthouse project at a price of 10,521 dirhams per square foot, with an area of 38,970 square feet, 6 apartments were sold, with a value of more than 100 million each in the same project, and included An apartment of 11,656 square feet at a value of 160 million dirhams, or 13,752 dirhams per square foot, an apartment of 137 million dirhams, an area of 38,970 square feet, at 11,785 dirhams per square foot, and another of 130 million dirhams, an area of 11,656 square feet, at a price of 11,152 dirhams per square foot.
In addition to an apartment of 119 million dirhams, an area of 11,656 square feet, at a price of 10,209 dirhams per square foot, and an apartment of 116 million dirhams, an area of 11,656 square feet, at a price of 9,953 dirhams per square foot, in addition to an apartment of 110 million dirhams, an area of 11,656 square feet, at a price of 9,500. Dirhams per square foot. As for the prices of the other 11 apartments that were sold in the Bulgari Lighthouse Tower project, their prices ranged from 64.2 million dirhams to 81.9 million dirhams, and prices per square foot ranged from 9978 dirhams per square foot to 12648 dirhams per square foot.
An apartment under construction was also sold in Bulgari Residences «BV Residences», at a value of 45 million dirhams, with an area of 6,813 square feet, at a price of 6,604 dirhams per square foot.
The sale of ready-made apartments in Bulgari “BV Residences” topped the sale of an apartment of 6,550 square feet, at 65 million dirhams, or 9,922 dirhams per square foot, and an apartment of 3,168 square feet, at 42.9 million square feet, or 13,545 dirhams per square foot.
