UAE: Dubai Hills villa sold for Dh128 million, most expensive in the area this year
A villa has been sold for a whopping Dh128 million in Dubai Hills, making it the most expensive villa to be sold in the upcoming area this year to-date.
With a built-up area of 34,113 sq ft sitting on a plot of 42,518 sq ft, the seven-bedroom mansion was sold brand new.
The property has a modern-meets-classic design with a full golf course, lakes, and Downtown views. The villa also has an entertainment/games room, a gym, spa, cinema room, and pool in addition to a rooftop terrace.
The villa was listed off-market and was sold within a month.
There has been limited availability of ultra-luxury, brand new, fully furnished and ready to move in villas to buy and move into right away in the market. Dubai Hills is one of the few areas in Dubai that offer these in addition to its appeal as a newer development.
The area has recorded over Dh3 billion in sales this year to date, according to the Dubai Land Department.
In April, a 10-bedroom custom-built villa on the Palm Jumeirah was sold for a record Dh280 million.
The ‘Street of Dreams’ is a coveted cul-de-sac in the Dubai Hills Grove sub-community of the Dubai Hills area. It hosts only 26 mansions and is one of the preferred addresses of the city’s wealthiest residents, where the villas are currently valued at Dh100 million plus.
When initially released, the villas were bought shell and core for the owners to refurbish and make their own, giving rise to a range of architectural and interior styles.
Luxhabitat Sotheby’s International Realty closed the deal on behalf of both buyer and seller.
Renit Shah, senior global property consultant at Luxhabitat Sotheby’s International Realty represented the buyer.