A four-bedroom house in Jumeirah Bay was sold for AED 55 million ($14.9 million) at a price of AED 7,775 ($2,116) per square meter.
The sale of the Bvlgari mansion takes place due to the fact that prices on the island of Jumeirah Bay have increased by 44.3% per square meter - from AED 4,502 ($ 1,225) in the 1st quarter of 2022 to AED 6,500 ($1,769) in the 2nd quarter.
Such transactions reflect the real excitement of the market for rare real estate. This is not speculation, but a true form of end–user interest in turnkey brand residences," commented George Azar, Chairman of Luxhabitat Sotheby's International Realty. «The exquisite mansions at Bvlgari Resorts & Residences are extremely in demand, but there is currently none on the market that can meet the demand».
The Jumeirah Bay area has proven to host some of the most interesting deals since 2020. Among other record deals across Dubai, Luxhabitat Sotheby's also signed a deal with a mansion on the island of Jumeirah Bay for AED 121 million ($32.9 million) and a double plot on the island of Jumeirah Bay for AED 120 million ($32.6 million).
In Jumeirah Bay, not far from the coast between the famous islands of the World and the iconic center of Dubai, there are many attractive mansions. The seahorse-shaped island is one of the most coveted properties in all of Dubai for the rich and famous due to its breathtaking views.
According to the Dubai Land Department (DLD), sales worth more than AED 2.5 billion ($680.6 million) have already been registered in this area this year.
