A mansion on the artificial island of Palm Jumeirah has become the most expensive real estate in the Emirate of Dubai, being sold to a wealthy buyer, whose name is not indicated, for $82.4 million.
The building, called Casa Del Sole, found its buyer back in July 2022, but information about the closure of all necessary formal obligations between the parties became known only in September.
Despite the absence of an indication of the identity of the acquirer, due to concerns about confidentiality, Bloomberg was able to establish that the transaction was concluded without the use of any borrowed funds, i.e. mortgages.
Casa del Sol is located on one of the branches of Palm Jumeirah called Frond G, also known, since recently, as a ‘Billionaires’ Row’. This area has repeatedly distinguished itself with record amounts of funds raised from luxury villa deals in recent months.
The previous record belonged to the Indian tycoon Mukesh Ambani – the sale price reached $80 million. The subject of the transaction, which took place in August, was a ten-bedroom villa that Ambani purchased for his youngest son.
Experts expect that in the coming months Frond G will become a source of a large number of news about record sales in the luxury villa segment, as this is a completely new area of popularity among super-wealthy buyers.
The number of objects there is not yet large, developers are actively competing with each other in providing the most exclusive, elite and large objects for sale, and the prices of even the most luxurious objects are still less than in analogues of such an ‘Billionaires’ Row’ in the world market leaders of real estate, such as London or New York.
