Dubai sets new record with sale of Palm Jumeirah mansion for $82m

Dubai sets new record with sale of Palm Jumeirah mansion for $82m

A mansion built on Dubai’s Palm Jumeirah island has become the most expensive home to be sold in the Gulf emirate, the latest real estate record as the city’s luxury property sales surge. The villa, called Casa Del Sole, fetched Dhs302.5m ($82.4m) when it was sold in July, according to its developer Alpago Properties. The firm declined to name the buyer, citing privacy concerns. The mansion was bought without a mortgage, according to partially redacted title deed seen by The mansion is built on Frond G of the tree-shaped artificial island Palm Jumeirah, and stands on a stretch of land known as Billionaires’ Row. Indian tycoon Mukesh Ambani’s firm previously set the record after buying for $80 million a 10-bedroom villa for his youngest son on the island, people familiar with the matter said in August. Property prices have climbed in Dubai over the past year as the government’s handling of the pandemic and its liberal visa policies have attracted more expats. In particular, the luxury end of the real estate market has benefited from a slew of new government policies such as long-term “golden visas.” “We developed six villas and have nearly sold all of them,” Murat Ayyildiz, founder