Dubai Sotheby’s International Realty Sells Dubai Mansion For Record AED 200mln On ‘Street Of Dreams’
Dubai Sotheby’s International Realty has announced the sale of a magnificent nine-bedroom mansion in Hills Grove, Dubai Hills Estate for a record-breaking AED 200 million. This surpasses the firm’s previous record of AED 145 million set less than two months ago. Dubai Sotheby’s International Realty represented both buyer and seller in this landmark transaction, with Senior Global Property Consultant Renit Shah acting for the buyer.
The fully furnished mansion, sits on a sprawling 37,700+ sq ft private plot and spans four levels, including a rooftop terrace and basement. Features include a large private garden and a unique boomerang-shaped swimming pool. Its prime location provides panoramic views of the golf course, the Downtown Dubai skyline, and the Burj Khalifa.
George Azar, Chairman & CEO of Dubai Sotheby’s International Realty, commented: “This record-breaking sale on Hills Grove’s ‘Street of Dreams’ is a testament to Dubai’s global appeal and our teams’ strategic vision. By consistently setting new benchmarks, we are shaping Dubai’s super-prime real estate market and solidifying our position as a trusted partner for (HNWIs) and (UHNWI). This achievement reflects our commitment to delivering excellence and redefining the standards of luxury living in Dubai.”
Renit Shah, Senior Global Property Consultant at Dubai Sotheby’s International Realty, added: “Dubai Hills Estate has truly delivered on its promise as a premier destination for the city’s elite. Hills View and Hills Grove showcase some of Dubai’s most exquisite homes, making new pricing benchmarks inevitable. As this young community continues to develop, its value will only continue to grow.”
Hills Grove, one of two exclusive mansion enclaves in Dubai Hills Estate, comprises just 26 residences along a single street, surrounded by the golf course and picturesque lakes. This exclusivity, combined with limited availability, has earned it the nickname ‘Street of Dreams,’ making it highly sought-after by HNWIs and UHNWIs. Over the past four years, Dubai Sotheby’s International Realty has closed five of the most expensive transactions in the neighbourhood, each exceeding the last, with this sale representing a 62.5% increase over the brokerage’s first mansion sale in the area.
In October 2024, Dubai’s property market hit an all-time high, recording over 20,000 transactions totalling AED 60.5 billion ($16.47 billion). The city continues to attract global HNWIs, particularly from the United Kingdom, Eastern Asia, and the United States. While new home handovers increased 50% Q3 2024, supply remains tight at the high end, positioning areas like Hills Grove to command premium prices.
