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Luxhabitat Sotheby’s International Realty has completed the sale of a four-bedroom Bulgari mansion on Jumeirah Bay Island for AED 55 million ($14.97 million).
Luxhabitat Sotheby’s said the ultra-chic mansion sold for AED 7,775 psf, making it one of the rare deals on the island and set a record for the highest ever.
Of the entire prime market, Jumeirah Bay Island saw the largest price increase in psf, rising 44.3% between the first and second quarters to AED6,500 psf, the company said, higher than the third quarter. AED 4,502 in the first quarter.
Despite the scarcity of options available on the market, buyer demand for branded properties remains high. George Azar, chairman of Luxhabitat Sotheby’s International Realty, said: “This type of transaction shows us the real market inclination for rare properties. It’s not speculation or hype, but real end-user demand for ready-made, turnkey branded residences,” said.
“These beautiful mansions at Bvlgari Resorts & Residences are highly coveted, but none of them are currently on the market to meet the demand,” he said.
The adjoining Bvlgari Resorts & Residences is one of the most stylish properties in Dubai. These properties offer privacy and exclusivity with direct views of the Dubai skyline from the apartment or villa and close proximity to a private beach.
With over 50 spaces, Bvlgari Marina can accommodate boats from 30 feet to 120 feet long, making it perfect for boating enthusiasts.
It turns out that the Jumeirah Bay area has seen some of the most exciting deals since 2020. In other record deals across Dubai, Luxhabitat Sotheby’s also sold a mansion on Jumeirah Bay Island for AED 121 million and a double plot on Jumeirah Bay Island for AED 120 million. – arab trade news agency
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