(MENAFN) Dubai Sotheby's International Realty has achieved a milestone in the luxury real estate market with the record sale of a sprawling 19-bedroom villa in the prestigious Emirates Hills area. Valued at an astounding USD40.2 million (AED 148 million), this transaction marks the third most expensive villa sale in Dubai this year, underscoring the thriving luxury property market in the emirate. The successful completion of this remarkable deal is credited to the efforts of Lee Borg and Tim Oguni from Dubai Sotheby's International Realty.
Spanning an impressive 80,000 square feet, the villa is situated within the renowned Emirates Hills complex, renowned for its opulent residences and exclusive lifestyle offerings. Boasting a sprawling built-up area of 55,700 square feet, this palatial residence stands out for possessing the largest land area within Emirates Hills, making it one of the largest homes in Dubai in terms of built-up area.
George Azar, Chairman and CEO of Dubai Sotheby's International Realty, expressed pride in the achievement, stating that the record-breaking sale of the villa exemplifies the unparalleled value the agency delivers to its clients and the luxury real estate market in Dubai. He emphasized that beyond the impressive sale price, the villa epitomizes luxury and vast living spaces, setting a new standard for luxury real estate in the region. Azar remarked, "This deal sets a new standard for the prime real estate sector in the region and represents another milestone in the history of the real estate sector in Dubai."
The sale of this extraordinary villa not only highlights the desirability of luxury properties in Dubai but also underscores the city's status as a global hub for high-end real estate investment. As Dubai continues to attract discerning buyers seeking luxury residences and premium lifestyle amenities, such record-breaking transactions reaffirm the emirate's position as a premier destination for luxury living and investment opportunities.
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