UAE’s Unique Properties has closed a record-breaking transaction of AED 182 million (approximately $50 million) residential land sale on Jumeirah Bay Island. The prime land plot, spanning 25,441 square feet, was sold at AED7,154 per square foot, with the deal expertly facilitated by Vanessa Sevsky, adding to Unique Properties’ extensive portfolio of high-profile transactions.
The buyer, an ultra-high-net-worth individual, plans to build a custom home on the prestigious island. This sale is a testament to the firm’s ability to navigate Dubai’s cutthroat real estate market and secure premium opportunities for discerning investors.
Commenting on the transaction, Mr. Arash Jalili, Founder and CEO of Unique Properties, said: “Securing a plot on Jumeirah Bay Island is a significant achievement, given its status as one of Dubai’s most exclusive real estate locations. This deal was the result of months of strategic negotiations and planning to pinpoint the ideal opportunity. In the end, we successfully acquired an outstanding plot for our client. This sale highlights our steadfast dedication to providing top-tier investment opportunities in Dubai’s ever-evolving real estate market.”
Jumeirah Bay Island, also known as Billionaire Island, is an exclusive residential community off the coast of Jumeirah. Located near the prestigious Jumeirah neighbourhood, it features a curated collection of luxury waterfront properties.
Developed by Meraas Holding, the island is connected to the mainland by a 300-metre bridge and features some of the city’s most sought-after plots. Spanning 6.3 million square feet in the shape of a seahorse, the island is home to a mix of low-rise residences, luxury villas, a boutique resort, a world-class marina, and the prestigious five-star Bvlgari Hotel.
Evolving Market Dynamics
Dubai’s real estate market has experienced a surge in demand for ultra-luxury properties, driven by an influx of international buyers seeking stability, luxury, and long-term investment opportunities. The city’s low-tax environment, world-class infrastructure, and investor-friendly policies, such as the golden visa programme, have made it a magnet for global wealth.
The buyer of the AED 182 million plot plans to develop a private residence, reflecting a growing trend among ultra-high-net-worth individuals to build custom homes tailored to their preferences. This shift away from pre-built properties highlights the desire for personalisation and exclusivity in Dubai’s luxury real estate market.
Highlighting the trend, Mr. Armin Jalili, Partner at Unique Properties, commented, “In recent years, we’ve witnessed a clear shift in buyer behaviour – today’s ultra-high-net-worth individuals are not just investing in Dubai; they’re choosing to create their dream homes here. The desire for exclusivity and personalisation has never been stronger, and Dubai continues to offer unmatched opportunities in this space.”
