26 August 2022 – ZAWYA BY REFINITIV – www.zawya.com
Dubai: Dubai’s premium properties with a value exceeding Dh 10 million see a high demand in 2021 and 2022, recording the highest secondary market deals in the last ten years. An exclusive garden home and beachfront villa in Palm Jumeirah found an affluent buyer who purchased the unit at a hefty Dh 34 million through Dubai’s luxury real estate consultancy Realty Force Real Estate Brokers, exclusively selling mid-premium luxury segment between Dh 7.5 million – Dh 37.5 million.
At the price tag, this beachfront Frond A Garden Home villa is recorded as the most expensive garden home on Palm Jumeirah, upgraded and reconditioned. Palm Jumeirah accounts for 35 per cent of all prime transactions, above Dh 10 million, which happened in 2021 and 2022.
The recent sale is this Frond A Garden Home property that sits on a 7,369.73 sq. ft. extended plot. This triple-storey residence is recently renovated and upgraded, offering remarkable views of Atlantis and Royal Atlantis views.
It’s a 6,000 square feet, six-bedroom, and eight-bath villa on the beach with a private garden, swimming pool, maid’s room and driver’s room.
The buyer’s representative, Riyaz Merchant, the CEO of Realty Force, said this garden home villa in Palm Jumeirah had ticked all boxes for the buyer regarding his requirements and expectations. “It was not the buyer’s first venture into the property market, as we have served the clients before for his property purchases.”
“Some may think that price alone will make or break a deal. But there are more complex nuances when it comes to true home values. In the current competitive property market, having an expert agent is a crucial asset in the home buying process who will look out for your best interests.”
The seller was represented by Francesca Alexandra (Managing director) and Taieser Alsaati (Executive partner) at Luxhabitat Sotheby’s Realty, with whom Realty Force has had a long, fruitful business relationship.
Merchant’s track record in prime and super premium property sales is magnificent, accounting for approximately Dh 12.92 billion [$3.52 billion]; across his 20 years, he successfully transacted on individual deals.
Realty Force has transacted multiple high-value sales in the first eight months of this year, before this Dh 34 million garden home villa sale on the Palm. The company has exclusive and off-market listings across Dubai Hills, Sobha Hartland, and District 1, with sales, predicted to go over Dh 500 million by the end of 2022.
The other most noteworthy sales include a seven-bedroom modern villa on the golf course of Dubai Hills Estate sold for Dh 20.5 million and the mega eight-bedroom mansion in District One, MBR City, for Dh 85 million, among others.
With limited prime property supply and strong demand from the influx of elite investors moving to the region, the upcoming months are expected to witness better figures for premium sales in Dubai real estate.