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Dubai’s real estate market sets a new record: Villa on Jumeirah Bay Island sells for $65 million

The six-bedroom villa on Jumeirah Bay Island, known for its remarkable architecture, prime location, and top-notch amenities, epitomises the height of luxury living on the island

Dubai shatters record: Villa on Jumeirah Bay Island sells for $65 million

Dubai Sotheby’s International Realty has achieved a historic milestone in the luxury real estate market with the record-breaking sale of a six-bedroom villa on Jumeirah Bay Island for an extraordinary $65 million (AED 240.5 million). The sale sets a new record for the highest sale on Jumeirah Bay Island and surpasses previous records by a significant margin, highlighting the strong demand for ultra-luxurious properties in Dubai.

Jumeirah Bay Island is known for its luxury and exclusivity, drawing some of the wealthiest individuals in the world, and this recent sale has set a new benchmark for the island’s real estate market, showcasing the thriving luxury property sector in Dubai. The six-bedroom villa, known for its remarkable architecture, prime location, and top-notch amenities, epitomises the height of luxury living on the island.

This landmark sale was achieved through the collaboration between Dubai and Saudi Arabia Sotheby’s International Realty. Erick Knaider, Managing Partner of Saudi Arabia Sotheby’s International Realty, led the transaction of the 18,800 square feet villa, demonstrating the brand’s exceptional expertise and dedication.

Commenting on this record-breaking transaction, Erick Knaider stated, “This record-breaking sale is a testament to the synergy within our international network and the unparalleled appeal of Jumeirah Bay Island as a premier luxury destination. The island’s unique seahorse-shaped shoreline, coupled with its exclusive amenities, makes it an irresistible location for ultra-high-net-worth individuals. Our team’s ability to connect discerning buyers with such exclusive properties continues to set us apart in the global real estate market.”

George Azar, Chairman and CEO of Dubai and Saudi Arabia Sotheby’s International Realty, added, “Jumeirah Bay Island is not just a residential area; it is a statement of luxury and exclusivity, featuring some of the most opulent branded residences. Our team possesses the skills and dedication necessary to close high-value transactions in the region, showcasing the strength of our collaborative international network.”