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Majid Al Futtaim Development, part of Majid Al Futtaim Properties, said it had set a new benchmark for luxury real estate in Dubai, recently selling a luxury mansion on the island of Lanai for 200 million dirhams ($54.4 million). The highest sales so far are in Tilal Al Ghaf.
Designed in collaboration with award-winning South African architects SAOTA and stylishly furnished by world-renowned interior designer Kelly Hoppen, Lanai offers a limited number of 13 ultra-luxury villas on a secluded private island ranging from crystal clear The sea rises to 150,000 square meters of recreational lagoon, developers say.
The villas have become a favorite among the ultra-high-net-worth individual (UHNWI) segment, which grew 9 per cent last year, it added.
Orange City Properties recently sold a property on Lanai for Dh200 million, underscoring strong demand for prime real estate in Dubai, where the real estate market is currently at a 12-year high.
The record-breaking lanai offering sits on a large corner lot with expansive landscaped gardens extending to its private waterfront and offers generous living spaces with more than 30,000 square feet of gross floor area (GSA), according to the developer.
The eight-bedroom villa boasts several unique features including a floating lounge platform directly on the water, a sunken roof terrace with unrivaled 360-degree views of the lagoon, and bringing light and lush greenery into the heart of the villa of three-storey courtyard homes, it added.-TradeArabia News Service
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