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Dubai: Villa sells for $16 million, setting record in Al Wasl District

This sale by Nordic by fäm Real Estate Development, has set a new standard for luxury living in Al Wasl District

Dubai: Villa sells for $16 million, setting record in Al Wasl District

The Dubai real estate market has achieved a new milestone with the sale of a villa for $16.74 million (AED 61.5 million) in the Al Wasl District. This sale, developed by Nordic by fäm Real Estate Development, has set a new standard for luxury properties in the area. This transaction not only represents the highest price ever achieved in the district but also showcases the distinctive charm of the ‘downtown villas of Dubai’, according to Firas Al Msaddi, CEO of fäm Group.

In the central area of Al Wasl District, freehold villas are a rare and valuable opportunity in the real estate market. Surprisingly, more than 95% of the Dubai population is unaware that villas in this community (read: which is in close proximity to iconic Dubai landmarks such as Burj Khalifa, Dubai Mall, Jumeirah, Al Wasl Canal, Sheikh Zayed Road, and DIFC) can be purchased by all nationalities. This non-gated community offers high security with regular patrols and low service charges, a unique feature considering its prime location. Homeowners have the freedom to customise their properties within reasonable guidelines set by the local authority, DDA, without the hassle of lengthy approvals or additional fees to the master developer, Dubai Holding’s Meraas.

Nordic by fäm recognises a market need for minimalist luxury properties and is capitalizing on this with their innovative Nordic initiative. Their Scandinavian-inspired designs, which eschew traditional opulence, have garnered significant popularity, as seen with the unprecedented sale of their first villa.