Jumeirah Bay Island plot sells for a record high of Dh 61 million

This waterfront plot was one of the few remaining of its kind and had seen a steep price hike over the last six months

On 18th Aug, Luxhabitat Sothebys reported the sale of a plot of land in Jumeirah Bay - an upcoming community nestled between the iconic Downtown Dubai and the famous World Islands - for an all-time record high of Dh 61 million. As one of the most sought-after neighborhoods, the titanic seahorse-shaped island with its breathtaking views, tops the list of most investors looking to buy residences in the city. The waterfront plot in question, LV11, was one of the few remaining of its kind and had seen a steep price hike over the last six months. Selling for almost double its original value to a Russian buyer, the property that was originally bought at Dh34 million sold for an astounding Dh61 million. With multiple high networking individuals across the globe vying for a spot in the Jumeirah Bay neighborhood, the area has noticed a significant sales rise of up to 26.9% as per data supplied by the Dubai Land Department. This data hints at an upward trend for prices in the neighbourhood in the coming months.

Tag: Real Estate , Property , Sale