Dubai: Dh2.2 million. That’s what it’ll cost you every year to rent this 38,000 square foot ultra luxurious villa in Dubai’s posh Emirates Hills. Any takers? For a city best known for being the best, the tallest, the biggest, is this Dubai’s most expensive rental property?
XPRESS takes you inside two of Dubai’s pricey pads where quality matters and numbers don’t.
This luxurious 38,000 square foot Emirates Hills villa with golf course views is currently asking a staggering Dh2.2 million yearly rent. If experts are to be believed, there are certainly takers for it.
The ultra-luxurious villa comes padded with six en suite bedrooms, a fully fitted kitchen, two maids rooms, a separate driver’s room and a landscaped garden with private swimming pool.
The view too could not get better as it overlooks the Montgomerie Championship Golf Course.
Khalid Idrissi, Emirates Hills Sales and Leasing Property Specialist, SZZ Properties, said Dubai currently has a shortage of high-end luxurious properties.
“It is quite rare to find listings of exclusive properties that command a Dh1 million yearly rent. Owners of such villas prefer to keep their villa vacant until they find a very high-profile tenant. Usually they dress it up with exclusive furnishings to fit the tenant’s profile.”
He said rents in Emirates Hills are currently hovering between Dh75 and Dh100 per square foot.
“If the villa comes furnished it commands a premium of 25 per cent to 30 per cent more. The better the furnishing, the higher the rent.”
Another 26,000 square foot, six bedroom villa in Emirates Hills, currently listed in the market is going for Dh1.4 million per annum. It comes with all the features like the other property except that this one has marble flooring.
“Prices solely depend on the plot size of the property, interior finishing and whether it has a golf-course view or not. Typically plot areas in Emirates Hills start from 5,000 square feet all the way up to 42,000 square feet,” said Kenny Paul, Director, Premier Habitat.
He added that there is a regular demand for villas in Emirates Hills from very high networth individuals and corporates. “It is a prestigious gated community as they look out to the lush green fairways of the world-class 18-hole Montgomerie Championship Golf Course. Living in Emirates Hills spells prestige – much like living in Beverly Hills in Los Angeles.”
A quick scan of online websites reveals signature villas in Palm Jumeirah, penthouses in Dubai Marina and Downtown Dubai, villas in Al Barari and Hattan are some exclusive areas where rents are Dh800,000 and up.
“It’s not too often that you find listings of such high rental properties as they are absolutely exclusive and unique. We have noted, however, that there is not much difference in the asking price and the transacted price of such properties,” said Idrissi.