10-bedroom Dubai villa sells for record Dh280 million

  DUBAI – The most expensive villa in Dubai has been sold for a record Dh280 million and it has a 7-star spa and a massive private beachfront. The ten-bedroom villa on Palm Jumeirah—sold by luxury property broker Conor McKay Transaction—beat the record of Dh185 million that was the price for a villa that was sold in 2015. The Palm Jumeirah villa sits on 33,000sq ft by the beachfront, and features a gym and a hair salon in its 7-star spa facility. The property also has more than 70 meters of private beachfront. The beachfront villa on Palm Jumeirah, Dubai. "To see a transaction of this magnitude illustrates the ongoing strength of Dubai's property market particularly in the ultra-high-end segment,” said Zhann Jochinke, COO of propertymonitor.com, which verified the sale. “The transaction not only beats Dubai's previous record but closes the gap between Dubai's luxury market and those of leading global cities such as London, New York, and Hong Kong," Jochinke added. High value properties in London sell for around $40 million, and $69 million in New York. ICA/Expat Media
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