Latest news with #DubaiSothebys
Gulf Business
7 hours ago
- Business
- Gulf Business
$100m plot sold in Dubai: Here's where its located
Image credit: Supplied Dubai Sotheby's International Realty has brokered the sale of a residential plot on Palm Jumeirah for Dhs365m ($100m), setting a new record for the island's most expensive land transaction in 2025. The 90,036 square feet freehold plot occupies a coveted frond tip position — among the rarest land sites on Palm Jumeirah — with unobstructed views of Bluewaters Island, and the Dubai Marina skyline. With most of the island already developed, prime land opportunities have become increasingly scarce, fueling demand from developers and ultra-high-net-worth individuals (UHNWIs). Read: George Azar, Chairman and CEO of Dubai Sotheby's International Realty, said the deal underscores Palm Jumeirah's status as a premier destination for global wealth. 'The sale of this rare frond tip plot highlights the enduring prestige of Palm Jumeirah,' he said. 'As supply continues to tighten, we expect both land and ultra-prime residence prices to rise further.' Image credit: Supplied The buyer, 25 Degrees, is a boutique developer known for producing architecturally distinctive luxury homes in Dubai's most elite neighborhoods. The company is expected to build a custom-designed residence on the site, targeting the emirate's growing market for bespoke ultra-luxury homes. Surging prices, strong investor confidence Leigh Borg, Executive Partner at Dubai Sotheby's, represented the seller in the transaction. 'This site offers a rare opportunity to deliver a landmark property,' Borg said. 'In today's competitive luxury market, originality and visionary design are crucial.' The landmark deal follows a record-setting trend in Dubai's high-end real estate market. In December 2024, Dubai Sotheby's also facilitated the Dhs130m ($35.4m) sale of a five-bedroom Signature Villa at Six Senses Palm Jumeirah — one of the world's top ten most expensive branded residences sold that year. According to Dubai Sotheby's data, Palm Jumeirah has seen land prices climb by 18.92 per cent between January and May 2025, even as transaction volumes declined by 14 per cent. The surge in value reflects growing interest from both developers and international buyers seeking secure investments and waterfront living. Data from the Dubai Land Department supports this upward trend, with over 7,700 plots transacted in the first 100 days of 2025 alone. The figures highlight strong investor confidence and sustained momentum in Dubai's luxury market, particularly in limited-supply zones like Palm Jumeirah. Dubai Sotheby's International Realty continues to lead the ultra-prime property sector in the region, facilitating marquee transactions that reflect Dubai's position as a global hub for elite real estate investment.
Khaleej Times
10 hours ago
- Business
- Khaleej Times
Dubai: Mega Palm Jumeirah plot sells for staggering $100 million
In another record in Dubai's booming ultra-luxury real estate market, a prime residential plot on Palm Jumeirah has been sold for a staggering Dh365 million ($100 million). This transaction marks the highest-value land deal recorded on the iconic island in 2025, underscoring its enduring appeal to the ultra-high-net-worth market. Dubai Sotheby's International Realty. Spanning 90,036 sq. ft., the plot occupies a coveted 'frond tip' position – a rarity on Palm Jumeirah, where most land has already been developed and freehold plots are tightly held. Boasting uninterrupted views across the Arabian Gulf, Bluewaters Island, and the Dubai Marina skyline, the property offers an unparalleled blend of absolute privacy and breathtaking, iconic panoramas. George Azar, Chairman & CEO of Dubai Sotheby's International Realty, which brokered the sale, said: 'Palm Jumeirah unequivocally remains the ultimate address for Dubai's global elite. The sale of this exceptionally rare frond tip plot emphatically underlines the enduring prestige of the island and the intense demand for unparalleled ultra-prime waterfront living. As prime inventory continues to tighten, we anticipate land values and bespoke mansion prices will appreciate significantly in the years to come.' This landmark deal is indicative of a broader trend witnessed throughout 2025, as Dubai continues to achieve unprecedented milestones in its real estate sector. In December 2024, Dubai Sotheby's International Realty also facilitated the sale of a five-bedroom beachfront Signature Villa at Six Senses Palm Jumeirah for Dh130 million ($35.4 million), a transaction that ranked among the top ten most expensive branded residences sold globally in 2024. Land plots, in particular, are experiencing exceptionally robust demand as both developers and ultra-high-net-worth individuals (UHNWIs) seek to create bespoke residences within Dubai's most prestigious enclaves, driven by the continued influx of UHNWIs to the emirate. According to Dubai Sotheby's International Realty, for January-May 2025, Palm Jumeirah has seen prices surge by 18.92 per cent, despite a 14 per cent dip in transaction volume, highlighting the intense value appreciation in this exclusive market. Data from the Dubai Land Department reveals that over 7,700 plots were transacted within the first 100 days of the year alone, underscoring this intense market activity. Leigh Borg, Executive Partner at Dubai Sotheby's International Realty, exclusively represented the seller in this significant transaction. The buyer, 25 Degrees, is a premier luxury property developer renowned for crafting architecturally significant, ultra-bespoke residences across Dubai's most elite enclaves. 'The demand for super-prime real estate in Dubai is truly extraordinary, and the appetite for exclusive, meticulously crafted residences has never been stronger,' stated Leigh Borg. 'In today's highly competitive market, developers must differentiate themselves through unparalleled originality and visionary design. This extraordinary plot presents 25 Degrees with a once-in-a-generation opportunity to deliver a truly iconic residence, poised to set a new benchmark for ultra-luxury living on the Palm.'
