A Palm mansion inspired by Los Angeles beachfront villas has sold for Dh63 million, making it one of the most significant sales in Dubai’s property market in the second quarter. On the N frond is a five-bedroom, 8,600-square-foot residence.
“The home was presented in absolute mint condition – which went well noticed by the buyers,” said Kunal Singh Gupta, Associate Director of Luxhabitat International Realty, who represented both buyer and seller in the transaction.
The villa’s European buyer is an end-user who recently relocated to Dubai with his family. European purchasers were among the most active in the first four months, particularly at the upper end of the market.
So far this year, the Palm has seen almost Dh4.6 billion in sales, including one for Dh280 million, the most expensive residential purchase in Dubai.
“The most in-demand luxury homes now are those designed in a modern/Mediterranean style, with a larger plot and built-up area as well as mega-mansions with views over beach or golf course or park (depending on the location),” said Gupta.
“Super-prime villas, apartments, and penthouses are most in-demand, as people living here like to enjoy the sun and outdoors as much as possible. Areas such as Palm, Jumeira Bay Island, Emirates Hills, and Dubai Hills are catering to the wealthiest 1 percent of the world, which is a great sign for Dubai and the UAE.”
Packs in quite a bit for luxe living
The Dh63 million property is designed in a modern style with neutral colors.’ With motorized guillotine windows, the open plan living space is light and airy, with a lovely transition to the outdoors and sea views. This was designed to provide seamless indoor/outdoor living, as well as pocket doors to separate the living and eating areas as necessary.
Minotti, Flexform, Poliform, Paola Lenti, and Poltrona Frau are among the names represented in the furniture. The mansion also includes an Infinity pool, which is now considered standard, as well as a swim jet and access to three kilometers of great coastline.