Palm Jumeirah villa sells for Dh260 million in latest Dubai luxury deal
The six-bedroom villa spans about 26,550 sq ft and sold for roughly Dh9,792 per sq ft
Dubai: A six-bedroom villa on Palm Jumeirah has sold for Dh260 million, extending a run of large residential transactions across Dubai’s luxury property market.
The completed villa, located in the ultra-luxury Ayumi project on Palm Jumeirah, spans about 2,466.7 square metres, or 26,550 square feet, according to Dubai Land Department data. The transaction values the property at roughly Dh9,792 per square foot.
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A second completed villa in the same project was also mortgaged for Dh130 million, pointing to continued large-scale financing activity in Dubai’s prime residential market.
The transactions came as Dubai recorded about Dh1.2 billion in property deals across 339 transactions in early trading on Tuesday, at the start of September.
The Palm Jumeirah sale follows another burst of high-value activity only days earlier.
On Friday, a villa in the Burj Khalifa area sold for Dh725 million, while another property in the same area was mortgaged for Dh471.3 million, bringing the combined value of the two transactions to nearly Dh1.2 billion. Both properties covered about 379,000 square feet.
The Dh725 million sale worked out at approximately Dh1,914 per square foot, while the Dh471.3 million mortgage was equivalent to around Dh1,244 per square foot, according to Dubai REST data.
Dubai property sales reached Dh1.3 billion across 185 transactions in early trading that Friday, while mortgages totalled Dh684 million across 44 deals.
