Discover the Latest in Dubai’s Super-Luxury Real Estate Market
Dubai’s super-luxury real estate market continues to flourish, with a stunning villa on Jumeira Bay fetching an unprecedented Dh175 million. The exquisite ‘Sea Mirror,’ spanning 17,500 square feet with five bedrooms, is set to be occupied later this year.
This remarkable sale underscores the growing allure of Jumeira Bay among high-net-worth individuals seeking beachfront properties. According to a recent Knight Frank report, the island ranks among the top five locations for homes priced at Dh10 million or above.
Developer Lamar is poised to capitalize on Jumeira Bay’s appeal with the upcoming ‘Sea Mirror Residences,’ strategically located near the Dubai Water Canal and adjacent to the esteemed Four Seasons project. Facilitating this landmark transaction was Driven Properties, a leading agency in Dubai’s real estate scene.
Renowned for its Bulgari residences, Jumeira Bay continues to set benchmarks in plot and land sales. Notably, a penthouse was acquired for Dh410 million, marking it as the city’s priciest unit. The island also witnessed a record-breaking residential plot sale at Dh125 million.
While Jumeira Bay boasts remarkable achievements, Dubai’s Palm remains home to the city’s most expensive property, sold at Dh598 million. Nevertheless, penthouses on the Palm are currently listed for over Dh700 million, showcasing the ongoing prestige of Dubai’s luxury real estate market.
Kianoush Darban of Driven Properties, instrumental in the Dh175 million transaction alongside Lina Allaoa, noted a staggering threefold increase in property prices on Jumeira Bay since September 2020.
In a testament to Jumeira Bay’s allure, Driven Properties recently leased a home on the island for Dh3.7 million, further solidifying its status as a coveted destination in Dubai’s luxury real estate landscape.