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The sale underlines Dubai’s appeal as a ultra-high-net-worth destination
Majid Al Futtaim Development, part of Majid Al Futtaim Properties, said it has set a new benchmark for luxury real estate in Dubai, with the recent sale of a Lanai Island luxury mansion for US $54.4mn, the highest recorded sale to date at Tilal Al Ghaf.
Designed in collaboration with South African architects SAOTA and with interior finishes by interior designer Kelly Hoppen, Lanai Islands offers a limited collection of 13 ultra-luxury villas on a secluded private island, rising from the waters of a 150,000sqm recreational lagoon, stated the developer.
These villas have become a favourite among the ultra-high-net-worth-individuals (UHNWIs) segment, an exclusive global community that increased by 9% last year.
The sale of the property for $54.4mn was closed by Orange City Properties and is said to underscore the strong demand for premium properties in Dubai, where the real estate market is currently at a 12-year record high.
Located on a large corner plot with extensive landscaped gardens extending to a private water frontage, the record-breaking Lanai Island product offers expansive living with over 30,000sqft of gross floor area (GSA), stated the developer.
The villa features eight bedrooms and a number of unique features including a floating lounge deck directly on the water, a sunken rooftop terrace with unrivalled 360-degree views across the lagoon, and a triple-height courtyard that brings light and lush greenery into the centre of the home. |
