A plot on Jumeirah Bay Island in Dubai is being sold for a record AED 61 million

The buyer is a Russian citizen.

The land plot on Jumeirah Bay Island was sold in Dubai to double its original price to a Russian buyer: AED 61 million.

The oceanfront plot LV11 is one of the few remaining on the site. Initially bought for AED 34 million, the recently concluded sale rose to AED 61 million in six months, “making it the most expensive parcel of its kind ever sold.”

Jumeirah Bay Island, one of the city’s most coveted corners, is shaped like a seahorse and boasts some of the most spectacular views in the emirate. According to the Dubai Land Department, the area has already recorded a total sales growth of 26.9% this year from the previous quarter to AED 689 million. There are comfortable villas, well-developed infrastructure, serene landscapes, parks and lakes. All islands are up for sale. The offer is tempting: to live in a personal Cuba or Africa. Therefore, the excitement around this place does not subside.

Ultra-high-income people all over the world are looking for the perfect place to build their dream home. With a unique range of quirky houses and tax-free economic incentives, Dubai is ideal. There are more inquiries from buyers in the United States, Europe and Asia recognizing the stability, innovation and prosperity of the United Arab Emirates.