The most expensive properties of District One sold for AED 89.1 million

Dubai: Dubai’s luxury property market continues to be in high momentum since 2021, with premium value homes attracting elite and overseas buyers. Dubai’s bespoke real estate consultancy Realty Force Real Estate Brokers has sold an eight-bedroom contemporary style mansion for Dh 89.1 million to a former Soviet Union National buyer, recorded as one of the highest value of a mansion sale within District One so far in 2022.

With a built-Up area of 32,500 sq. ft, the eight-bedroom mansion sale in District One was one of the most prominent, most expensive properties sold on the crystal lagoon. The extravagant lagoon-facing mansion has a lavish eight bedrooms, ten bathrooms, six-car park slots, a cinema room, a private gym area, a private pool, an entertainment zone, and a massive family lounge.

Riyaz Merchant, the CEO of Realty Force said, “The buyer lived in District One for the past two years as a tenant and loved this location because of the availability of schools, crystal lagoons, the beach, and the upcoming mall. He had decided to move into his own home in the same community. 

“The seller was Australian National. The mansion was sold for Dh 89.1 million, the highest value of its kind in District One. The other high valued property was sold recently for an Arabic model mansion for Dh 53 million in District One,” he added.

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“District One is one of the most prestigious real estate addresses in the UAE and internationally, known for upscale living in Dubai, with premium home sales soaring to new records this year. Most buyers in District One are Europeans looking to move into Dubai. Some are tenants who have lived there for about two years and decided to buy a home as property rents have risen too high.”

The discussions and negotiations for this District One’s premium property started in March this year, and the transaction swiftly concluded in mid-May, jointly done by the efforts of Merchant and Realty Force broker Saniya. 

District One offers a fantastic lifestyle with schools, supermarkets, the largest mall coming up in the lagoons, wholesome community in the heart of the city.  

Source: Supplied