Prime Plot on Jumeirah Bay Island Sells for Record Dh182 Million

Dubai’s luxury real estate market has hit another milestone with the sale of a prime residential plot on Jumeirah Bay Island for an astounding Dh182 million (around $50 million). Spanning 25,441 square feet, the plot was sold at Dh7,154 per square foot, making it one of the highest per-square-foot land deals in the city to date.

The buyer, a high-net-worth individual, intends to construct a bespoke residence on the exclusive island, adding to the growing number of custom homes being developed in this sought-after location.

“Securing a plot on Jumeirah Bay Island is a major accomplishment, considering the island’s reputation as one of Dubai’s most prestigious addresses. This deal was the outcome of detailed planning and strategic negotiation. We’re proud to have delivered such an exceptional opportunity for our client.”

Often referred to as Billionaire Island, Jumeirah Bay is a high-end residential enclave developed by Meraas Holding. Located just off the coast of Jumeirah and connected to the mainland by a 300-metre bridge, the seahorse-shaped island covers 6.3 million square feet. It features luxury villas, low-rise residences, a state-of-the-art marina, and the five-star Bvlgari Hotel and Resort.

Jumeirah Bay Island

his latest sale comes amid a surge in demand for high-end properties in Dubai. International investors continue to flock to the emirate, drawn by its business-friendly policies, tax advantages, top-tier infrastructure, and the appeal of the golden visa.

With more ultra-wealthy individuals opting to design homes tailored to their specific tastes, the market is seeing a noticeable shift towards land acquisition for custom builds, signaling a new phase of exclusivity and personalisation in Dubai’s luxury real estate sector.

Source : Khaleej Times