UAE: Mansion in Dubai’s Beverly Hills sells for Dh75m – News

It was designed by architect Kobi Karp and is one of the most luxurious villas in the UAE

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Demand for high-end properties in Dubai continues to be strong in 2022, with a new villa in Emirates Hill having sold for Dh75 million, according to high-end real estate brokerage Luxhabitat Sotheby’s.

This exquisite mansion is for sale in 2021 and re-sold in 2022. Designed by architect Kobi Karp, it is one of the most luxurious villas in the UAE, with a built-up area of ​​30,000 square feet.

From the gorgeous chandelier with over 500 hand-blown glass balls and crystal butterflies designed and crafted by Preciosa to the 50-year-old bonsai tree in the atrium, every detail of the mansion is carefully curated and executed by top designers. Surfaces, handmade materials and custom furniture.

“Due to increased demand and limited supply, Emirates Hills is back on the map at record high prices, earning it the nickname ‘Beverly Hills Dubai’,” said Leigh Borg, managing director of Luxhabitat Sotheby’s International Realty.

A strong start to 2022 has been largely influenced by soaring demand from high-end buyers for the ultra-premium real estate segment in the lucrative secondary market. The brokerage said that as of 2022, more than 13 villas have been sold in Emirates Hills with a total transaction volume of AED458.5 million and an average transaction price of AED35.2 million.

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“Due to high demand, some sellers have invested heavily in renovating or in some cases completely demolishing and rebuilding properties to meet the demands of the latest high net worth buyers. These properties, once ready, will be the top transactions in the luxury residential segment because Emirates Hills remains the most luxurious and coveted neighbourhood in Dubai,” said Borg.

The UAE real estate market is experiencing high demand from high net worth individuals and international buyers from Germany, Switzerland, France, Russia, Italy, India and the GCC. International buyers see Dubai as a safe and stable economy, especially when investing in large assets in areas such as Emirates Hills, Palm Jumeirah, Al Balari and Jumeirah Bay.