Prime residential plot in Dubai sells for record Dh182 million
In another landmark deal in Dubai's booming real estate market, a residential plot of land has been sold for Dh182 million (approximately $50 million) on the Jumeirah Bay Island.
The prime land plot, spanning 25,441 square feet, was sold at Dh7,154 per square foot. The buyer, an ultra-high-net-worth individual, plans to build a custom home on the prestigious island.
Unique Properties, a dominant force in Dubai's ultra-luxury real estate market, closed the transaction. The deal was facilitated by Vanessa Sevsky.
Arash Jalili, Founder and CEO of Unique Properties said: '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, also known as Billionaire Island, is an exclusive residential community off the coast of Jumeirah. Located near the prestigious Jumeirah neighbourhood, it features a curated collection of luxury waterfront properties. Developed by Meraas Holding, the island is connected to the mainland by a 300-metre bridge and features some of the city's most sought-after plots. Spanning 6.3 million square feet in the shape of a seahorse, the island is home to a mix of low-rise residences, luxury villas, a boutique resort, a world-class marina, and the prestigious five-star Bvlgari Hotel.
Dubai's real estate market has experienced a significant 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, world-class infrastructure, and investor-friendly policies, such as the golden visa programme, have made it a magnet for global wealth.
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 away from pre-built properties highlights the desire for personalisation and exclusivity in Dubai's luxury real estate market.
Armin Jalili, Partner at Unique Properties, said: '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.'
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Al Etihad
2 days ago
- Al Etihad
UAE stock markets consolidate ahead of 4-day Eid-break
4 June 2025 22:07 A. SREENIVASA REDDY (ABU DHABI)The UAE stock markets consolidated gains on Wednesday ahead of the upcoming four-day Eid Al Adha Abu Dhabi Securities Exchange (ADX) recorded its second consecutive session of gains, with its general index (FADGI) rising by 0.449% to close at 9,734.99. A total of 25,971 trades were executed, involving 373 million shares with a combined value of Dh1.443 total market capitalisation of all companies listed on the ADX stood at Dh3.003 trillion, a milestone it had crossed earlier this week for the second Dhabi Islamic Bank led the rally with a 2.43% gain, followed by First Abu Dhabi Bank with a 2.13% rise and ADNOC Gas with a 0.92% top gainers on the ADX included E7W Warrants (+14.92%), Fujairah Cement (+14.88%), and Abu Dhabi Ship Building (+13.47%). Notable decliners were National Bank of Fujairah (-9.52%), Eshraq Investments (-4.42%), and Finance House (-4.35%).Shares of Abu Dhabi Ship Building surged after it secured a Dh7 billion contract from its shareholder EDGE Group for the supply of missile boats to the Kuwait Naval Forces. DFMThe Dubai Financial Market's general index (DFMGI) rose by 0.255% to close at 5,535.93 points. The index has posted annual gains every year since 2021, climbing 27% last year and up 7% so far in 2025. A total of 18,583 trades were executed on the DFM, involving 389 million shares with a combined value of Dh930 million. Share prices of 20 companies rose, 24 declined, and 10 remained the top gainers were Amlak Finance (+14.58%), Dubai Refreshment (+13.07%), and Dubai Financial Market (+5.96). On the losing side, Al Mazaya Holding fell by 7.14%, followed by National Cement (-2.70%), Emaar Development (-2.62%), and Tabreed (-2.53%). Amlak Finance drove the day's performance on the DFM, emerging as the most actively traded stock in terms of both value and volume. Source: Aletihad - Abu Dhabi
Al Etihad
28-05-2025
- Al Etihad
CBUAE imposes financial sanctions of Dh18.1 million on two branches of foreign banks
28 May 2025 17:11 ABU DHABI (WAM) The Central Bank of the UAE (CBUAE) imposed financial sanctions on two branches of foreign banks operating in the UAE, amounting to Dh10,600,000 for the first bank and Dh7,500,000 for the second bank, pursuant to Article (14) of the Federal Decree Law No. (20) of 2018 on Anti-Money Laundering and Combating the Financing of Terrorism and Illegal financial sanctions were imposed based on the findings of examinations conducted by the CBUAE, which revealed violations and failures to comply with the Anti-Money Laundering and Combating the Financing of Terrorism and Illegal Organisations framework, and related regulations. The CBUAE, through its supervisory and regulatory mandates, endeavours to ensure that all banks and their staff, abide by the UAE laws, regulations and standards established by the CBUAE to maintain transparency and integrity of the financial transactions and safeguard the UAE financial system.
Arabian Business
21-05-2025
- Arabian Business
The pros and cons of buying Dubai real estate with cryptocurrency
Buying property in Dubai with cryptocurrency is no longer a novelty, it is becoming a serious alternative to traditional real estate transactions, according to Unique Properties. With the UAE's proactive approach to blockchain and digital asset regulation, Dubai is now one of the few cities in the world where cryptocurrency can be used to legally and securely purchase residential and commercial real estate. As more developers and buyers embrace crypto payments, the conversation is shifting from 'Is this possible?' to 'What are the risks and rewards?' – whether you're a seasoned crypto investor or a newcomer to Dubai's property market. Dubai real estate cryptocurrency sales As of early 2025, several top developers and real estate brokers have started accepting Bitcoin (BTC), Ethereum (ETH), and even stablecoins like USDT for property purchases. Many global crypto holders are now looking to convert digital wealth into tangible, income-generating assets, and Dubai's real estate market offers strong capital appreciation, tax-free ownership, and global appeal. Why investors are buying property in Dubai with cryptocurrency Global accessibility: Cryptocurrency breaks down traditional banking barriers. International investors no longer need to worry about currency exchange, banking delays, or cross-border payment issues. A crypto wallet and a secure transaction channel are all you need Fast and transparent transactions: Blockchain enables near-instantaneous, traceable transactions. Smart contracts can automate many parts of the buying process, reducing paperwork and human error Wealth diversification: For high-net-worth individuals, converting part of their crypto portfolio into real estate in Dubai provides long-term stability and a hedge against market volatility Crypto-friendly legal framework: Dubai's creation of the Virtual Assets Regulatory Authority (VARA) in 2022 signalled its commitment to developing a regulated digital asset ecosystem. In 2025, VARA continues to work closely with the Dubai Land Department (DLD) to ensure real estate purchases made with crypto are legitimate, secure, and fully compliant with UAE law Despite its convenience, buying property in Dubai with crypto in 2025 comes with a few important caveats. Union Properties raises these concerns to look out for: Volatility: Crypto prices fluctuate rapidly. If the value of your coins drops before conversion to AED, you could lose a significant portion of your purchasing power. Most deals fix the AED amount at the time of agreement, so timing matters. Regulatory differences: While Dubai welcomes crypto, not all countries do. Investors must consider the tax and legal implications in their home country when converting digital assets into property. Scams and fraud: As with any new market, bad actors exist. Always verify that the broker, developer, and payment processor are licensed by the DLD and VARA. Never transfer funds without a formal agreement and legal oversight. Limited inventory: Although growing, the number of properties available for crypto transactions is still limited. High-demand areas often sell out quickly, especially off-plan units accepting digital assets. Buying property in Dubai with crypto in 2025 is no longer just a futuristic concept – it's a real, regulated option for forward-thinking investors. While the process involves more due diligence, it offers unmatched speed, global access, and financial flexibility.
