Record $17 Million Sale Achieved For Luxury Villa On Palm Jumeirah By Super-Prime Developer 25 Degrees
Today, one of Dubai’s top luxury real estate developers has announced that it has set a record for the price of a luxury renovated Garden Home on the Palm Jumeirah.
The property, completed in January 2024, is a 5,800-sq-ft private beach villa situated on the luxurious super-prime Palm Jumeirah. It was sold in a transaction for US$16.9 million (AED 62 million) – a record for a renovated Garden Home on the Palm.
25 Degrees develops best-in-class, super-prime homes built to high European standards, style, and specifications, marketed to ultra-high-net-worth individuals (UHNWIs). This latest sale confirms the appetite for super-prime European-style luxury villas in Dubai.
The Dubai luxury residential property market is the hottest in the world right now, and the city has cemented its position as the deepest US$10 million+ home sales market as it registered 431 sales above the US$ 10 million+ threshold in 2023 – 80% higher than second place London. The epicenter of this activity is the exclusive Palm Jumeirah itself, where the market is white-hot, registering 21 deals over US$10 million, totaling US$365 million (Knight Frank).
This frenzied activity is being driven by the influx of UHNWIs from all over the world, who are flocking to Dubai to take advantage of the city’s world-class business and lifestyle opportunities.
Super-prime luxury developer 25 Degrees aims to tap into this lucrative seam by using premium materials, appliances and rare stones and marbles sourced from around the world. This latest sale is confirmation that the market has responded well to the developer’s strategy and reputation for quality and craftsmanship.
David von Rosen, co-founder of 25 Degrees, said: “The Dubai residential real estate market continues to go from strength to strength – and at 25 Degrees, we are riding the crest of this wave. With markets as hot as super-prime property in Dubai, there’s always a host of developers jostling for position, but what this latest sale highlights is that the quality of construction and craftsmanship sets you apart from the pack.
“For UHNWIs from around the world, Dubai is increasingly becoming the location of choice. The city’s lifestyle options mean that it’s no longer just somewhere to do business – international financiers and entrepreneurs now want to lay down roots here long-term with their families to take advantage of the high-end shopping, world-leading art market, and thriving restaurant and bar scene.
“And it’s this trend that will continue to supercharge our growth at 25 Degrees, setting us up to hit our ambitious target of selling 100 homes by 2030 in the wider region.”
