Majid Al Futtaim announces record sale of Lanai Islands mansion

Majid Al Futtaim announces record sale of Lanai Islands mansion

UAE - Majid Al Futtaim Development, part of Majid Al Futtaim Properties, said it has set a new benchmark for luxury real estate in Dubai, with the recent sale of a Lanai Island luxury mansion for AED200 million ($54.4 million), the highest recorded sale to date at Tilal Al Ghaf.

Designed in collaboration with award-winning South African architects SAOTA and with stylish interior finishes by world-renowned interior designer Kelly Hoppen, the Lanai Islands offers a limited collection of 13 ultra-luxury villas on a secluded private island rising from the crystal waters of a 150,000 sq m recreational lagoon, stated the developer.

These villas have become a favourite among the ultra-high-net-worth-individuals (UHNWIs) segment, an exclusive global community that increased by nine per cent last year, it added.

The recent sale of a Lanai Island property for AED200 million was closed by Orange City Properties and underscores the strong demand for premium properties in Dubai, where the real estate market is currently at a 12-year record high.

Located on a large corner plot with extensive landscaped gardens that extend to its private water frontage, the record-breaking Lanai Island product offers expansive living with over 30,000 sq ft of gross floor area (GSA), stated the developer.

The villa