The real estate boom in Dubai is breaking all previous records; most recently, a penthouse on Bluewaters Island sold for Dh80 million. B1 Properties sold the 9,252-square-foot, four-bedroom apartment.
Bluewaters and Madinat Jumeirah Living have been the preferred beneficiaries of demand for waterfront locations in Dubai outside of the Palm Jumeirah and Jumeira Bay islands. Particularly at Bluewaters, the average price per square foot had been stabilizing for some time.
“B1 Properties has demonstrated the ability to secure successful deals worth a total value of Dh1 billion since its inception a year ago,” said Deniz Zeybek, Vice-President of Sales at the firm.
The Dubai real estate market is currently experiencing a strong level of demand, and numerous places have been continuously scoring with expensive bargains. In addition to beach resorts, Dubai Hills and the Lanai Island in Majid Al Futtaim’s Tilal Al Ghaf have caught the attention of investors. Emaar has unveiled The Oasis, a $20 billion project that promises to offer mansions and villas.
In the meantime, B1 Properties is selling a Dh78 million penthouse at Bluewaters.