UAE: AHS Properties sells three Palm Jumeirah mansions for $75mln
- Date: 12-Oct-2022
- Source: Zawya
- Sector:Real Estate
- Country:UAE
UAE: AHS Properties sells three Palm Jumeirah mansions for $75mln
Dubai-based AHS Properties had announced its entry into the market in November 2021 with a total asset value of more than $100 million, comprising four luxury villas in Emirates Hills and Palm Jumeirah.
The announcement of the successful sale comes at a time when demand for ultra-luxury homes is on the rise in Dubai with many tourists and end users alike seeing it as an even more attractive destination.
According to AHS, it is developing a fifth mansion in Palm Jumeirah with a value of $40 million.
"In less than a year of launching AHS Properties we nearly sold out our existing portfolio and we have several pipeline projects that will be announced soon. The ultra-luxury market in Dubai is booming and I am thrilled with what we have been able to achieve in such a short period of time," remarked its CEO Abbas Sajwani.
According to recent reports, there has been sky-rocketing demand for properties in high-end neighbourhoods such as Palm Jumeirah and Emirates Hills. In the past 12 months, the market has recorded a more than 100% price surge on these premium homes.
Premium residential values have risen by 29% in the third quarter alone, driven by high-net-worth individuals living abroad who wish