Dubai's ‘Billionaire's Island': Most expensive villa on Jumeirah Bay sold for Dh330 million
A six-bedroom, custom-built villa on Jumeirah Bay Island has been sold for Dh330 million, making it the most expensive home on the island, according to Sotheby's International Realty.
The sale surpasses the previous record of Dh240.5 million, reaffirming the rising value of Jumeirah Bay Island. Often referred to as 'Billionaire's Island,' this ultra-exclusive enclave has just 128 plots, attracting elite buyers seeking rarity, privacy, and a premier waterfront lifestyle.
The plot spans 26,895 sqft and occupies one of just three plots on the tip of the island. It is the only villa of the three that has uninterrupted views of the Burj Khalifa and Downtown skyline. The villa is encased in full-height glass walls and boasts 13-metre-high ceilings.
The home is built with exquisite materials, including Taj Mahal Quartzite, Patagonian marble, and walnut wood veneer. Other features include a beachfront infinity pool and a private stretch of white-sand beach.
The transaction was facilitated by Dubai Sotheby's International Realty associate directors Regan Faulkner and Ioana Armeanu, who represented the seller.
'This villa occupies the most sought-after location on Jumeirah Bay Island. With uninterrupted views of the Dubai skyline, a prime beachfront position, and total exclusivity, it is one of the rarest opportunities on the market. Jumeirah Bay Island remains the most coveted address in Dubai, with just 128 plots, and its desirability only continues to grow,' said Faulkner.
'The demand for bespoke, one-of-a-kind residences here has never been stronger, and this record-breaking sale on Jumeirah Bay Island is a testament to its enduring appeal. It was a privilege to represent such an incredible property and connect our client with the perfect buyer,' said Armeanu.
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Arabian Business
14-04-2025
- Arabian Business
Trump tariffs result in increased demand for UAE property from foreign investors, here's what you need to know
The real estate players in the UAE could be thanking the US President secretly as the Gulf country's property sector is projected to see a windfall gain in the coming weeks and months, with Trump's maverick policy and tariff announcements sending the US dollar to a tailspin, and the consequent fall in value of dirham, triggering a surge in overseas investments in the sector, especially from Europe, Russia and India. The Gulf country's rising currency value proposition, coinciding with the non-domicile tax law changes in the UK, is also expected to lead to a spike in UK-based wealthy investors' high-end property acquisitions in Dubai and other parts of the UAE. With the UAE dirham pegged to the US dollar, the depreciation of the American currency leads to a fall in its value as well. The demand for real estate assets, especially in the residential sector in Dubai, Abu Dhabi and Ras Al Khaimah are expected to see a significant spike in near-term with the US dollar widely expected to see further fall due to the effect of Trump's high tariffs weakening global demand for US goods, impacting the American currency's value. The uncertainty and high tariffs are also leading investors to reduce their investments in the US, further decreasing the demand and value of the US dollar. 'Any drop in currency value tends to drive [property] demand in the UAE from overseas investors,' Chris Whitehead, Managing Partner, Dubai Sotheby's International Realty, told Arabian Business. Angad Bedi, CMD, BCD Group, an India-based global real estate major, said a softer UAE dirham pegged to a weakening US dollar could make real estate assets in Dubai and the UAE more attractive for overseas investors. 'Markets like the UK, Europe, India, and even parts of East Asia could view this as an opportune moment to lock in high-value properties at relatively favourable currency rates,' Bedi told Arabian Business. Farooq Syed, CEO of Dubai-based Springfield Properties, said the fall in currency value, along with UAE's favourable economic environment and Dubai's resilient infrastructure and strategic positioning, will attract overseas investors seeking stability and long-term growth. Market experts said that with stock markets falling, taxes rising and tariffs impacting everyone, the global appetite for real estate is expected to grow as investors move to tangible assets such as bricks and mortar and precious metals, further enhancing the UAE property sector's appeal to investors. 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Sankey Prasad, CMD, Colliers India & Middle East, said currency value fluctuations often act as catalysts for cross-border investments, the emerging scenario is significantly advantageous for the UAE. 'Combined with the UAE's progressive visa reforms, safe city reputation, and tax-friendly policies, the market is poised for even greater inflows,' Prasad told Arabian Business. He, however, said investors should focus on asset quality to ensure strong, long-term returns beyond currency advantages. BCD Group's Bedi said given that UAE real estate is already seen as a safe haven with strong rental yields and a business-friendly ecosystem, the currency advantage could tip the scales for fence-sitters. 'We anticipate a sharp rise, particularly in prime residential and commercial assets, as well as branded residences and hospitality-linked investments,' he said. Market challenges and opportunities The Springfield Properties chief executive, however, said the current global economic shifts are presenting both challenges and opportunities for Dubai's real estate market. 'Ongoing disruptions in global trade are contributing to inflationary pressures, particularly on construction materials sourced from major suppliers like China. Rising costs of raw materials inevitably increase overall construction expenses, driving up prices for off-plan properties as developers adjust to these higher input costs,' Syed told Arabian Business. He, however, said that despite these challenges, Dubai has consistently demonstrated resilience in the face of global economic disruptions. 'The city's strategic positioning as a stable, well-regulated market continues to attract investment during periods of global financial instability. 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Khaleej Times
27-03-2025
- Khaleej Times
Luxury meets privacy at this exclusive island in Dubai
Dubai's Jumeirah Bay is known as the Billionaires' Island, and rightly so. Nestled off the coast between Downtown and World Islands, this uber-luxurious island is home to centimillionaires and billionaires. Connected to Dubai by a private bridge, the private island features just 128 ultra-premium plots offering unmatched privacy, breathtaking skyline views, and direct waterfront access. 'Plots on the island were offered only to Gulf royals…The net worth of the people who live there is much higher than you can imagine. Most of them are billionaires, not millionaires. People who are buying at Bvlgari Residences know that whatever they have is a jewel in their crown. It is very difficult to find a seller. If anything is being sold, it is off-market most of the time,' said Rasha Ibrahim, senior sales manager at Metropolitan Premium Properties. Premium records Jumeirah Bay Island has cemented itself as the destination for ultra-luxury real estate in Dubai with its continuous record-breaking transactions. A six-bedroom custom-built villa was sold for a record Dh330 million, making it the most expensive home on the island. The previous record was a cool Dh240.5 million. According to Sotheby's International Realty, if the price per square foot is taken into account, Jumeirah Bay Island is already the most expensive residential area in Dubai. 'The island's properties consistently achieve higher per square foot rates than Palm Jumeirah and Emirates Hills, with record-breaking transactions like…the Dh330 million mansion sale solidifying its dominance. As demand continues to rise, Jumeirah Bay will continue to set new benchmarks for ultra-luxury real estate in Dubai,' said Regan Faulkner, associate director at Dubai Sotheby's International Realty. According to Rasha, a custom-made villa on Jumeirah Bay Island will cost double what is available in other posh areas like the Palm. 'We offered Dh500 million price to some of the owners, but they rejected the offer. They said they would not sell it even for Dh1 billion. They want to enjoy that exclusivity that Jumeirah Bay Island offers them,' says Rasha, who is known as the 'Queen of Bvlgari Island' as she specialises in the project. 'There are people who rent only in Bvlgari because they cannot live anywhere else and not settle below that quality of life. They live in the most posh places in London, the US and they just cannot compare any other residence in Dubai,' she said. Leading the price rally Dubai's prime residential market has surged, and Jumeirah Bay Island has led the way. While overall prime areas saw an 18.2 per cent increase in value, the island's most exclusive plots have appreciated far beyond this average. According to Sotheby's International Realty, in just three months, plots of the same size on Jumeirah Bay jumped from Dh150 million to Dh180 million, marking a 20 per cent increase in value. This highlights the overwhelming demand and limited availability on the island. Regan believes that the price rally will continue into 2025 as well. 'The limited supply of plots, the unrivalled prestige, and the increasing influx of UHNWIs are set to push prices even higher. Market forecasts already predict an 8 per cent rise in luxury real estate prices for 2025, but Jumeirah Bay Island is likely to massively outperform this projection, given its scarcity and rising global demand. 'Unlike other luxury communities, Jumeirah Bay Island is a true standalone island, accessible only by a single private bridge, which ensures an unparalleled level of exclusivity and seclusion for residents, as well as providing an ultra-prime waterfront location with a clear and unobstructed view of the Dubai skyline and Arabian Gulf.' The island offers the 'unique opportunity for true customisation', which is something that ultra-high net worth individuals (UNHWIs) prize. It provides options for custom-built ultra-luxury mansions that are specifically designed to meet individual tastes and requirements. 'Additionally, residents can access Bvlgari Resort and Yacht Club, offering a high-end lifestyle experience,' said Regan. According to Metropolitan Properties, prices increased more than 40 per cent last year and plots that were sold initially at Dh25 million have seen their prices go up by 200 per cent so far. Billionaires' island or billionaires' row? Frond G of Palm Jumeirah is another address that billionaires want in their portfolios. Unlike Frond G, which is attached to Palm Jumeirah, Jumeirah Bay Island is a private island sanctuary, with a single exclusive entry point. Frond G offers medium-to-large beachfront villas as a part of a larger development, whereas Jumeirah Bay Island plots are significantly larger, allowing for fully custom-built ultra-luxury mansions. 'It's also worth noting that Jumeirah Bay Island has overtaken Palm Jumeirah in property values, with transaction records now significantly higher than those on Frond G,' said Ioana Armeanu, associate director at Dubai Sotheby's International Realty. Lyndsey Redstone, private office adviser at Allsopp & Allsopp, called Jumeirah Bay the 'perfect private retreat'. 'Whether it's a full-time home or a place to stay when visiting the city, nothing compares. 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Gulf Today
06-03-2025
- Gulf Today
A villa on Dubai's Jumeirah Bay Island sells for Dhs330 million
The Dubai Sotheby's International has revealed a new record sale on Jumeirah Bay Island. A six-bedroom, bespoke villa has been sold for Dhs330 million, a figure that establishes a new benchmark as the most expensive home ever sold on the island. The property occupies a plot of 26,895 square feet and is one of a select number of exclusive properties situated at the island's most prominent location. The villa has been finished to an exceptional standard, with materials including Taj Mahal quartzite, Patagonia marble and walnut veneer. Notable features include a beachfront infinity pool and a private strip of soft white sand. The deal has exceeded the previous record of Dhs240.5 million, which was also established by Dubai Sotheby's International Realty in June 2024. This development serves to emphasise the sustained increase in value of Jumeirah Bay Island, often referred to as the 'Billionaires' Island'. This exclusive location comprises just 128 properties and has become a sought-after destination for elite buyers seeking exclusivity, seclusion and a luxurious waterfront lifestyle. As George Azar, CEO and Chairman of Dubai Sotheby's International Realty, observes, "Dhs330 million is not merely a numerical value; it serves as a symbol of the confidence that our clients repose in us, our capacity to generate outcomes, and the robust performance of Dubai's flourishing luxury real estate sector." He further elaborated that the demand for properties of this calibre is indicative of a shift in market trends, where rarity and exclusivity are of paramount importance. "In this sector, we are not merely setting new records; we are shaping the market. We are proud to continue setting new benchmarks and connecting our clients to the most exclusive properties in the region," Azar added. "Jumeirah Bay Island is undeniably Dubai's most exclusive address. Its appeal keeps growing as there is only plot owner availability." said Regan Faulkner, Managing Partner of Jumeirah Bay Island. "The demand for bespoke, unique homes is at an all-time high, and this record-breaking deal on Jumeirah Bay Island highlights its ongoing appeal," stated Ioana Arminou, Managing Partner.
