Dubai’s real estate market has achieved a new milestone with the sale of a villa worth a staggering AED61.5 million in the Al Wasl District.
Developed by Nordic by fäm Real Estate Development, this transaction represents the highest price ever fetched for a property in the neighborhood.
“Surprisingly, more than 95 percent of the Dubai population is unaware that freehold villas can be purchased by all nationalities in this central area, making these villas a rare and valuable opportunity in the real estate market,” said Firas Al Msaddi, CEO of fäm Group.
Capitalizing on the success of this record-breaking sale, the real estate developer has announced its latest offering – an ultra-luxury villa with a price tag of AED76 million, showcasing a minimalist design aesthetic.
Comparable villas in the Al Wasl District are typically priced at approximately AED50 million, highlighting the premium value of these properties.
While the Al Wasl District community is non-gated, it maintains a high level of security with regular patrols and low service charges, a notable advantage given its prime location within the city. Homeowners in the area enjoy considerable freedom to customize their properties within the guidelines set by the Dubai Development Authority (DDA).
Looking ahead, the developer plans to invest AED1 billion in ultra-luxury villas, featuring minimalist architecture and high-quality materials, further solidifying Dubai’s position as a premier destination for luxury real estate.
This record-breaking sale in the Al Wasl District not only sets a new benchmark for the neighborhood but also underscores the continued strength and resilience of Dubai’s real estate market, attracting discerning buyers from around the globe.
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