In what is being reported as the second-highest sale among ready-to-move properties in Downtown Dubai, Dubai-based S2S Properties announced the successful sale of a penthouse at 118 Residences.
The property, 'The Duchess at The 118', was sold for $17.7 million (Dh65 million), a press release from the firm said.
Led by the Savani twins, Sunny and Shyam Savani, the sale has catapulted the company into the limelight, the release added.
The transaction's significance is twofold, according to S2S. It underscores the robust appetite for ready-to-move-in luxury real estate in Downtown Dubai and highlights the shrewd expertise of S2S Properties.
The Savanis attributed the sale of the property, despite previously being listed with two prominent global real estate firms, to strategic foresight and deep industry knowledge. The firm added that the sale was done discreetly, without the need for public advertising.
"We've observed a consistent demand for luxury ready apartments, which seems to be impervious to the general market's ups and downs," Sunny and Shyam Savani said.
"Our achievement with the 118 Residences penthouse is a reflection of the unique allure that Dubai holds for high-net-worth individuals seeking a blend of sophistication, convenience, and privacy in their homes."
S2S Properties has carved out a niche for itself by offering an inventory of penthouses and luxury apartments that are not publicly listed, a strategy that has quickly established the company as a reliable entity in the real estate sector.
Since their inception in August 2023, the Savani twins, together with their dedicated team, have propelled the company to impressive heights, facilitating over Dh200 million in real estate transactions. Their commitment to providing both top-tier properties and exclusive off-market opportunities is what set S2S Properties apart in a crowded marketplace, the release said.
The company added that the directors’ insights and the continued success of S2S Properties are a testament to the dynamic and thriving nature of the city's property market.