Dubai's Jumeirah Bay Island plot sells for $50mn as ultra-luxury market soars
Unique Properties, a leading developer in Dubai's ultra-luxury real estate market, announced successfully closing yet another record-breaking transaction – an AED 182 million ($50 million) residential land sale on Jumeirah Bay Island.
The prime land plot, spanning 25,441 square feet, was sold at AED 7,154 per square foot, adds to the company's extensive portfolio of high-profile transactions, it said.
The buyer, an ultra-high-net-worth individual, plans to build a custom home on the prestigious island.
'This sale is a testament to the firm's ability to navigate Dubai's cutthroat real estate market and secure premium opportunities for discerning investors,' Unique Properties said.
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,' he said.
The company said the buyer of the AED 182 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, it said.
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.'
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 – 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.
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