German expat in Dubai sells signature Palm Jumeirah villa for Dh70.2 million

German expat in Dubai sells signature Palm Jumeirah villa for Dh70.2 million

Dubai: A German expatriate living in Dubai has sold a refurbished signature villa for a whopping Dh70.2 million “” one of the highest recorded sale up until now. Holger Albers, a shareholder of different businesses, including AIM Hedge, an investment firm based in Liechtenstein, as well as ACORE Group and Yonhampton Group, both real estate development companies, active globally, concluded the deal five days ago with a mystery buyer. The redesigned Palm Jumeirah signature villa was sold for Dh69.2 million along with his private art collection valued at Dh1 million, totalling Dh70.2 million. The villa is a five-bedroom property with a 10,000 square feet built-up area. It is spread across a plot size of 14,500 sqft. The property comes with a separate study, a media room, a large open plan living area, a separate maid's room among others. "The asking rent on the property is close to Dh3.67 million per annum. Service charge is set to be around Dh25,000 annually,“ Albers told in an interview. Albers has been calling Dubai his home for over a decade and has created multiple beachfront villas in the UAE over the years. "I have had the good fortune of owning some beautiful homes around