The highest price for a single plot on Dubai’s Jumeirah Bay Island has been achieved in a deal completed by Luxhabitat Sotheby’s International Realty.
Sold to an unnamed buyer, the LV5 plot was sold for AED80 million ($21.7 million).
This deal comes on the heels of a previous transaction on the island by the same firm for a luxurious mansion on plot LV1 for AED121 million.
Jumeirah Bay Island is an exclusive new community nestled off the coast between the iconic Downtown Dubai and the famous World Islands.
Already one of the most coveted addresses in the city, the island is sculpted in the shape of a seahorse and is also the site for the Bvlgari Resort & Residences.
The area has seen a huge uplift in transactions during 2021 totalling upwards of AED800 million.
The waterfront plot LV1 was one of the rare plots available on the market and will allow its affluent owners to construct a “magnificent home”, a statement said.
It added that the latest deal was completed by Dr Taieser Al Saati and Erick Knaider, both working as associate directors at Luxhabitat Sotheby’s International Realty.
Al Saati was also the broker responsible for the LV1 deal.
“As purveyors of the ultra-luxurious properties, having sold the most expensive properties on the island, one after the other in a row, is a great feeling,” said Al Saati.
“However, this isn’t the last of it, each successful transaction makes way for the next one up as we have access to multiple new assets on the island that were never available before today.”
Headquartered in Dubai, Luxhabitat Sotheby’s International Realty focuses on premium residential areas such as Emirates Hills, Palm Jumeirah, Al Barari, Jumeirah Islands, Jumeirah Golf Estates, Meadows, Lakes and Arabian Ranches as well as the best apartments and penthouses in upscale buildings such as Le Reve, Index Tower, Six Towers, Burj Khalifa and The Address Hotels.
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