A $50 million plot is the biggest residential sale in Jumeira Bay since launch

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DUBAI: LUXHABITAT Sotheby’s International Realty has announced that it has successfully completed the largest sale of residential land in Jumeira Bay Island for AED 180 million ($50 million). The land, consisting of plots LV21 and LV22, spans a huge 46,222 square foot beachfront lot.

A prime location 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 in a single stretch of the UAE; surpassing Palm Jumeirah, Emirates Hills, Dubai Hills in terms of density of billionaires per square meter. According to the Dubai Land Department, more than AED 953 million in sales were recorded in this area between January 1 and July 31, 2022.

Dr. Taieser Al Saati, Executive Partner at LUXHABITAT Sotheby’s International Realty, said: “This is the highest sale since Jumeira Bay opened 13 years ago. We expect prices to rise further over the next 12-24 months to reach AED 5,000 per square foot, especially with the scarcity of beachfront land in the area. Jumeira Bay also has the highest density of billionaires in a single stretch of the United Arab Emirates. Owners purchasing these plots are looking to build large villas and mansions, taking full advantage of marina access and beach frontage.

The sale of this land in Jumeirah Bay Island beats the previous record of LUXHABITAT Sotheby’s having sold land in the district for 150 million Dh in January 2022, also negotiated by Dr. Saati.

Residential plot sizes on the island range from 16,000 square feet to 37,000 square feet. Compared to Palm Jumeirah’s 4,000 plots, Jumeira Bay has only 128, making them highly coveted and exclusive, with 46 plots facing the inner bay and 82 plots further inland.

Located between the World Islands and Downtown Dubai, Jumeira Bay Island offers tenants an unparalleled location. The island is shaped like a seahorse and spans over 6.3 million square feet with low-rise apartments, villas, a resort and marina, also including the five-star Bvlgari hotel.

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About LUXHABITAT Sotheby’s International Realty

Headquartered in Dubai, LUXHABITAT Sotheby’s International Realty focuses on residential and commercial luxury sales and rentals, luxury property management, institutional investments and the development of luxury projects in the UAE and beyond. LUXHABITAT Sotheby’s International Realty represents the marketing and sales partnership between the Sotheby’s International Realty brand throughout the GCC region and LUXHABITAT, a design-focused real estate marketing and technology company. Together, we are now the largest and strongest marketing and sales platform for luxury real estate in Dubai, making us the leading luxury real estate broker in the market today. We focus on finding the best quality properties in high end residential areas such as Emirates Hills, Palm Jumeirah, Al Barari, Jumeirah Islands, Jumeirah Golf Estates, Meadows, Lakes and Arabian Ranches as well as the best apartments and penthouses in high-end buildings such as Le Reve, Index Tower, Six Towers, Burj Khalifa, The Address Hotels, among others. For more information, visit its award-winning website at www.luxhabitat.ae

For further information and interview opportunities, please contact Aneesha Rai
E: [email protected]

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