Latest news with #Dh240.5
Khaleej Times
27-03-2025
- Business
- 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. With villas surrounded by the Bvlgari Resort & Marina and just a short drive from the city, it's no surprise that the area is becoming the top choice for the elite.'
Express Tribune
05-03-2025
- Business
- Express Tribune
Here's how much a villa costs in Dubai's Jumeira Bay
Listen to article Dubai's Jumeira Bay island has set a new benchmark for luxury real estate, with the sale of a 6-bedroom villa for a staggering Dh330 million. The deal cements the island's reputation as a hotspot for record-breaking property transactions. Spanning 26,895 square feet, the villa sits on one of only three exclusive plots at the tip of the island. It is the sole villa offering uninterrupted views of the Burj Khalifa and the Downtown Dubai skyline, according to a statement from the broker. This sale surpasses the previous record of Dh240.5 million set in June 2024, also facilitated by Dubai Sotheby's International Realty. "Jumeira Bay Island remains the most coveted address in Dubai, with just 128 plots, and its desirability continues to grow," said Regan Faulkner, Associate Director at the brokerage firm. "With uninterrupted views of the Dubai skyline, a prime beachfront position, and total exclusivity, it represents one of the rarest opportunities in the market." The Dubai luxury property market has continued its strong performance into 2025, with another notable sale earlier this year at Emirates Hills, where a home fetched Dh425 million. On the Jumeira Bay transaction, George Azar, CEO and Chairman of Dubai Sotheby's International Realty, remarked, "Dh330 million is more than just a figure, it's a statement. The demand for properties of this calibre signals a shift where provenance and exclusivity hold more value than ever. In this segment, we don't just set records—we shape the market."
Khaleej Times
05-03-2025
- Business
- Khaleej Times
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.
