$50 million Jumeira Bay plot sale sets new record for island destination

Dubai: A plot on Jumeira Bay island has reset the record for priciest deal, with a 25,441 square feet plot going for Dh182 million (around $50 million).

The previous costliest transaction on Jumeira Bay was for Dh125 million ($34 million).

“Securing a plot on Jumeirah Bay Island is a significant achievement, given its status as one of Dubai’s most exclusive real estate locations," said Arash Jalili, founder and CEO of Unique Properties, which oversaw the deal for a client.

"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."

Developed by Meraas Holding, Jumeira Bay is connected to the mainland by a 300-metre bridge and 'features some of the city’s most sought-after plots'. It spans 6.3 million square feet.

The buyer of the Dh182 million plot will build a bespoke home, adding one more in a location that's got its fair share of them.

It was as recently as last month that Jumeirah Bay saw a Dh330 million deal for a villa, which bettered the previous high of Dh240.5 million, a transaction recorded in mid-2024.

And there was the Dh410 million one for a penthouse at the Bulgari Penthouse, another attraction on the island.