[ad_1]
A mansion built on Dubai’s Palm Jumeirah island has become the most expensive home ever sold in the emirate, breaking the city’s luxury property sales record.
According to Alpago Properties, the villa, known as Casa Del Sole, sold for Dh302.5 million ($82.4 million) in July. The company declined to identify the buyer, citing privacy concerns. According to a partially redacted title deed acquired by Bloomberg, the mansion was purchased without a mortgage.
The mansion is located on Frond G of the Palm Jumeirah, on what is known as Billionaires’ Row.
Mukesh Ambani’s firm previously set the record after reportedly paying $80 million for a 10-bedroom villa on the island for his youngest son, according to people familiar with the matter in August.
Property prices in Dubai have risen in the last year as a result of the government’s handling of the pandemic and its liberal visa policies, which have attracted more ex-pats. A slew of new government policies, such as long-term Golden Visas, have benefited the luxury end of the real estate market in particular.
“We developed six villas and have nearly sold all of them,” Murat Ayyildiz, founder and chairman at Alpago Group said in an interview.
Casa Del Sole, which is still under construction, is scheduled to be completed in early 2023 and will have eight bedrooms and 18 bathrooms. A gym, cinema, bowling alley, jacuzzi, and basement parking for 15 vehicles will be among the amenities. It is one of six villas built on the Palm Jumeirah by Alpago. According to the firm, the cheapest of those sold for Dh128 million.
According to Prathyusha Gurrapu, head of research and advisory at Core, sales of homes worth Dh100 million or more have increased this year, with 12 transactions compared to five in 2021.
“This has been a bumper year for prime residential transactions overall,” Gurrapu said. “If you look at transactions with values above Dh10 million or above Dh20 million, pretty much all ticket sizes saw an increase in sales.”
[ad_2]
Source link