$50mln land plot is the largest residential sale in Jumeira Bay since launch

$50mln land plot is the largest residential sale in Jumeira Bay since launch

DUBAI: LUXHABITAT Sotheby’s International Realty has announced that it has successfully closed the single biggest residential land sale in Jumeira Bay Island for AED 180 million (US$50 million). The land which is comprised of LV21 & LV22 plots, spans across a massive 46,222 sq.ft of prime beachfront location.

A location of choice for Dubai’s billionaires and beginning to resemble Monaco’s Larvotto district, Jumeira Bay offers prime beachfront real estate for ultra-high net worth individuals to build their dream homes. Jumeira Bay has the highest density of billionaires on a single stretch in the UAE; exceeding Palm Jumeirah, Emirates Hills, Dubai Hills when it comes to the density of billionaires per sq. m. According to the Dubai Land Department, over AED 953 million in sales have been recorded in this area between January 1 and July 31 2022.

Dr. Taieser Al Saati, an Executive Partner at LUXHABITAT Sotheby's International Realty said, “This is the highest value sale since Jumeira Bay opened 13 years ago. We expect prices to grow further in the coming 12-24 months to reach AED 5,000 per sq. ft, especially with the scarcity of beachfront plots in the area. Jumeira Bay also has the highest density of billionaires on a