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Early in 2022, Dubai's property market showed no signs of slowing down, with a Jumeirah Bay Island plot selling for a record Dh150 million. This comes just weeks after another plot of land in the area sold for Dh80 million.

The most recently sold plot has a gross floor area (GFA) of 47,000 square feet with, of course, a seaside view. The buyer — a young UAE national – aims to create a mansion spanning 75,000 square feet of built-up area.

High-end market conditions

With an AED 150 million deal, Dubai's trophy property streak extends into 2022. Dubai's robust high-end market conditions are expected to continue into 2022, as the Emirate began the year with a record-breaking AED 150 million (US$40.8 million) transaction for a superb homesite on Jumeirah Bay Island. The nine-figure sale represents the highest sum ever paid for a parcel on the seahorse-shaped island.

Most expensive transaction

The year 2021 was fantastic in terms of luxury residential sales in Jumeirah Bay Island, Dubai. Well, real estate has certainly started 2022 off on the right foot, as it has now set a new record for the new year by selling a plot for AED 150 million, the most expensive transaction for a plot on the island in its history. The industry is expected to see immense growth in 2022.

The plot of Gold

They sold the property in Jumeirah Bay with a gross floor area (GFA) of around 47,000 square feet and enjoyed an open beachfront view of the bay with the Burj Al Arab hotel and the Bulgari hotel site as well as unrestricted beach access. A young Emirati local buyer purchased the site. The plot's vendor is also an Emirati national.

The buyer intends to construct a residential residence with a built-up area of 75,000 square feet (BUA). Plot LV13-14 is one of the remaining large villa plots on Jumeirah Bay still available. Land of this size is extremely difficult to come by in the market right now, if it even exists. The appeal of these plots is greatly amplified by the private gated community with uber-luxury villas throughout the neighbourhood, which has little to no availability for beach-facing view plots. Across the shore of Jumeirah, Dubai, Jumeirah Bay has become known as the "billionaire island."

About 10 minutes from Downtown Dubai, the island is home to some show-stopping mansions. With its breathtaking sunset views, open sea, and Dubai skyline perspective, the island was carved in the shape of an enormous seahorse and has become the uber-rich house of choice in Dubai. The Bulgari Resort & Residences, a premium resort with the world's first Bvlgari Yacht Club, is also located there. According to the Dubai Land Department figures, over AED 174 billion in sales were reported in the area in 2021.

How Signature Habitat can help you

It is not easy to get an understanding of Dubai's market due to its ever-changing economy. Starting a business or buying property in Dubai could be a good investment, considering the economic growth. 

We at Signature Habitat can help you find the best property in the UAE.We can also help you facilitate the mortgage of the property. We have been in the market for a long time and can help you get the best. Our team of experts makes the whole process smooth and easy. Contact us now to find the ideal property!