Ultra-Luxe Villa In Palm Jumeirah Sells For A Record AED 111 Million

A waterfront estate on Palm Jumeirah’s frond N just broke the record for the most expensive villa sale, per square foot, for a whopping $30 million (AED 111m).

One100Palm, home to five oversized VIP suites, eight bathrooms, three gourmet kitchens, an infinity pool and multiple indoor and outdoor lounges over a span of three floors encompassing 14,000 square foot, fetched a $30 million price tag from a Swiss family, making it the priciest property to sell in Dubai this year.

Dubai Palm jumeriah villa mansion real estate sells for AEd 111 million $30 million one 100 palm michael alibhai

Photograph credit: Luxhabitat Sotheby’s International Realty

Even the word ‘luxury’ is an understatement to describe the mansion, playing host to a fully stocked bar with premium and vintage beverages, alongside a hydraulic pop-up theatre, an outdoor rooftop cinema, an acrylic glass Jacuzzi and a state-of-the-art fitness centre.

As if the mansion’s ultra-modern features aren’t enough, the property comes with a Ferrari 599 GTO and Rolls Royce Wraith too.

Dubai Palm jumeriah villa mansion real estate sells for AEd 111 million $30 million one 100 palm michael alibhai

Photograph credit: Luxhabitat Sotheby’s International Realty

Simply put, the One100Palm is the epitome of grandness. Check out the estate’s official listing to know more about the attention to detail they’ve bought into the villa.

Michael Adam Alibhai, a construction design professional and long-timer in the UAE, purchased the mansion in 2011 for a price that remains undisclosed but revealed he spent more than six years in the villa’s decorations and interiors, having “splashed out millions” that tops up the design cost as much as the listing price, according to Mansion Global.

Alibhai intends to return to his home country, Sweden, after completing the sale, to live with his family after the Covid-19 outbreak.

Lee Borg, Managing Director of Sotheby’s International Realty, says the UAE’s handling of Coronaviru is attracting eyeballs for relocation and investment. He says:

“The UAE’s rapid response to COVID-19 made a lot of people want to live in Dubai, as many buyers now realise the importance of buying a luxuriously designed home, and we are very excited about what’s coming. There is a strong demand for new and improved homes that meet international quality standards. ”

Dubai Palm jumeriah villa mansion real estate sells for AEd 111 million $30 million one 100 palm michael alibhai

Photograph credit: Luxhabitat Sotheby’s International Realty

2015 saw the most expensive private residential sale in the UAE, amassing $50 million (AED185m).

Read: MANSION SELLS FOR AED 75 MILLION IN DUBAI

(Featured photograph credit: Luxhabitat Sotheby’s International Realty)

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