According To An Expert, This Is The Greatest Value Transaction Since The Beachside Property Opened 13 Years Ago.
According to Luxhabitat Sotheby’s International Realty, the single largest residential land transaction in Jumeira Bay Island covering 46,222 sq. ft. of prime beachfront location has been finalized for Dh180 million. Jumeira Bay, which is starting to resemble Monaco’s Larvotto neighborhood, offers outstanding beachfront property for mega-net-worth individuals.
Since Jumeira Bay launched 13 years ago, this sale has been the highest in dollar amount. Given the lack of beachfront properties in the community, we anticipate prices to increase over the next 12 to 24 months to reach Dh5,000 per square foot, according to Dr. Taieser Al Saati, from Luxhabitat Sotheby’s International Realty.
The sale of this Jumeirah Bay Island property tops the previous record set by Luxhabitat Sotheby’s in January 2022, when it sold a site in the area for Dh150 million.
The Island’s residential property sizes range from 16,000 to 37,000 square feet. Jumeira Bay’s 128 plots, which are much more sought and exclusive than the 4,000 plots on Palm Jumeirah, have 46 plots. That face the inner bay and 82 plots that are farther inland.
Jumeira Bay Island gives residents a convenient location because it is situated halfway between the World Islands & Downtown Dubai. The Island, which is 6.3 million square feet in size and has low-rise residences, villas, a boutique resort, a marina, and the five-star Bvlgari Hotel, is fashioned like a seahorse.