Deal Of $32.7 Million Shows That There Is A Market For Luxury Real Estate In The Emirate.
Is the Dubai Water Canal the upcoming destination for wealthy investors seeking expensive homes? It certainly appears to be the case after a private family office acting on behalf of a “European billionaire” purchased two duplex penthouses.
These apartments are a part of the Mr. C Residences Jumeirah. In which a single deal cost over Dh120 million (approximately $32.7 million). Which is viewed as evidence that Dubai‘s demand for luxury real estate investments will continue through 2023.
The wealth management company for the deal was Everose Properties. Which did Karl Shehfe and Gregory Mathieu represent. The buyer’s identity has not been made public
The acquisition was made at a time when market indications point to the possibility of other eye-catching Dh100 million+ deals in the coming weeks. The super-premium market had record-breaking transactions in the previous year, with most expensive villa selling for more than Dh300 million. There were also real estate transactions that exceeded Dh600 million.
The Mr. C Residences, a project led by Maggio and Ignazio Cipriani of Mr. C, a luxury leisure and residential brand. In partnership with Alta Real Estate, features 27 custom units. Abdullah Al Tayer is the leader of the latter.
A statement read, “Mr. C Residences Jumeirah is attracting an infusion of first-time investors from Europe. Dubai Water Canal is turning into a new billionaire’s row.” Since the project is almost completely sold out, Ignazio states that we are grateful for the support. We have gotten from both the local and global communities.