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Architecture

Dubai Villa Sells for $54M on Lanai Island

Dubai’s luxury real estate market has continued to show its strength, with a villa in the prestigious Lanai Island development recently selling for a record-breaking AED200m ($54m). The sale was announced by Majid Al Futtaim Development, a part of Majid Al Futtaim Properties, and marks the highest fee ever recorded in the area. This sale highlights the growing demand for premium properties in Dubai, as more foreign investors flock to the emirate for its thriving real estate market.

The Lanai Island development features a limited collection of only 13 ultra-luxury villas on a secluded private island that rises from the crystal waters of a 150,000sq m recreational lagoon. Designed in collaboration with award-winning South African architects SAOTA and with stylish interior finishes by world-renowned interior designer Kelly Hoppen, the development offers the ultimate in luxury living. And the record-breaking Lanai Island home is the crown jewel of the collection.

Located on a large corner plot with extensive landscaped gardens extending to its private water frontage, the villa boasts over 30,000sq ft of gross floor area and offers extensive living space. With eight bedrooms, a floating lounge deck directly on the water, a sunken rooftop terrace with views across the lagoon, and a triple-height courtyard, this property is truly one-of-a-kind in the city.

Despite the global economic slowdown, Dubai’s luxury real estate market has remained resilient, with investors continuing to show strong interest in the city’s upscale properties. In fact, Dubai has consistently been ranked as one of the top cities in the world for luxury property investment, with Knight Frank placing the emirate at the top of its recent rankings report of the world’s biggest cities.

The sale of this prestigious Lanai Island property was closed by Orange City Properties, a testament to their expertise in the Dubai luxury real estate market. And with the increasing demand for premium properties in the emirate, it’s no surprise that this record-breaking sale was closed. As Dubai continues to attract more foreign investment, the demand for luxury properties is only expected to grow. And with stunning developments like Lanai Island, Dubai’s luxury real estate market is sure to remain one of the strongest in the world.

 

 
 

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