Dubai real estate market has set a new record: villa sold for 280 million dirhams

A 10-bedroom custom-built villa in Palm Jumeirah, Dubai, has been sold for a record 280 million dirhams.

The modern white villa with an area of 33,000 square meters includes the amenities of a five-star spa hotel (including a gym and a beauty salon) and is decorated with Italian marble, selected to order. The property is furnished by Italian furniture houses Obelix Giorgetti and Minotti. 

Dubai luxury real estate market in 2021 showed record growth: in the first 10 months of the year, prices increased by about 21%. In total, more than 135 billion dirhams worth of transactions were made in the period from January to November 2021. Palm Jumeirah is a leader in luxury real estate transactions: in 2021, a three-storey penthouse here was sold for 180 million dirhams.