Experts Claim That This Neighborhood Is Superior To Similarly Recognized Rows In London And New York. Because It Is Home To A Number Of The Priciest Villas Ever Sold In The Emirate.
One of the renowned Palm Jumeirah fronds is quickly building up a unique reputation among the ultra-rich. Frond G, one of the smallest on the Palm, is standing tall when it comes to recent record-breaking property sales. The frond, also known as Billionaires’ Row, is home to the most expensive mansion ever sold in Dubai. On October 3, Alpago Properties’ showpiece property sold for a cool Dh302.5 million, breaking the previous record of Dh280 million. The four-story, eight-bedroom ultra-luxury mansion offers around 25,000 square feet of enclosed space.
Billionaire’s Row in the Middle East is far more affordable than its counterparts in London and New York. “With its unrivalled array of high-end villas and amazing convenience,” remarked Murat Ayyildiz, founder of Alpago Properties, which has created six trademark villas on Frond G. Ayyildiz noted that Frond G has more trademark homes than the whole Palm Jumeirah. Following the success of Expo 2020 and the successful management of the epidemic, demand for ultra-luxury homes in Dubai’s key neighborhoods. Such as Palm Jumeirah and Emirates Hills that has been extraordinarily strong, mostly from European, Russian, and Indian buyers.
According to Conor McKay, a property broker at Belleview Real Estate who sold a Dh280-million villa on Palm Jumeirah. While some of the most expensive properties can also be found in other areas of Dubai. The nickname Billionaires’ Row is more illustrative of the various developers’ uninhibited ambition. Especially when it comes to designing and building properties on this particular frond.
The most expensive property sold in Dubai is Casa Del Sole. “As one of the few totally custom-built fronds, Frond G appears to have become somewhat of a developer arms race,” McKay added.
Cem Kapancioglu, founder and managing director of CK Architecture Interiors, which designed and built 6 villas on Frond G, stated that Dubai, along with New York and London, has long established itself as a global destination for luxury property investors. “Luxury beachfront homes on Palm Jumeirah provide beautiful waterfront views in a calm, secluded setting.”
Are Billionaires Housed On Billionaires’ Row?
One obvious question is whether billionaires genuinely reside in and own these ultra-luxury mansions on Billionaires’ Row, or if they are classified as millionaires. “With costs exceeding Dh100 million for each home, only the ultra-rich can afford to buy one of these breath-taking wonders of modern architecture,” stated Ridvan Ayyildiz, chairman of Alpago Group.
“While we cannot expose the names and countries of each owner, we can say that billionaires own property on Frond G.” According to earlier media reports, one of the richest persons in the world and Indian businessman Mukesh Ambani purchased a Palm Jumeirah home for over $80 million (Dh293 million). He purchased the opulent home for his son Anant. McKay declared after the record-breaking Dh300 million deal “the frond is living up to its reputation” with property values that high.
London, New York, and Dubai
The “Billionaires’ Row” in Dubai is comparable to other well-known rows in London and New York. However, it is said that real estate in the emirate is less expensive than comparable homes. McKay thinks Dubai’s “Billionaires’ Row” is undervalued. When compared to cities like London and New York, much like the rest of the property market in the UAE.
“Dubai’s recent Dh300 million transfer is at the height of the market. Whereas London’s ‘Billionaires’ Row’ has an average house price of Dh390 million. You have to believe Dubai’s ‘Billionaires’ Row’ will continue to increase in value over the coming years. Especially when you compare what that money buys you there to London, he added. The “Billionaires’ Row” in Dubai, according to Ayyildiz, is the most exclusive area in the entire globe.
“With only 13 iconic villas making up the entire neighbourhood, it was created with the true elite in mind. It is also unquestionably the world’s most attractive “Billionaires’ Row,” with breathtaking views, glistening waterways, and the most luxurious homes. He thinks that in the years to come, these villas, which are currently more affordable than their counterparts, will surpass all others in price.