A collection of villas to be built on the tip of a Palm Jumeirah frond will have a price tag starting at AED70 million ($19 million).
The company has announced the sales launch of M.State by Ocean Breeze, five landmark villas located on frond M of the Palm Jumeirah in Dubai.
They are to be developed and marketed by AA Real Estate Development which said no expense had been spared "when it comes to offering world-class architecture using the finest materials and with a close attention to form and ease of function".
M.State is a collection of five villas, offering five or six bedrooms set over three floors and each approximately 1,250 square metres in size and private beaches of at least 28 metres in length.
"From floating steps designed to maximise natural sunlight to neutral colour schemes acting as a blank canvas for interior expression, the result is design that is perfectly at one with the landscape," the company said in a statement.
It added that a key feature of the villas is the outdoors area, shaded by canopies of timber rafters and featuring BBQ areas which have been created with freestanding chimneys and natural fires.
Ian Hollingdale, general manager, AA Properties, said: "The Palm's reputation as offering a high quality lifestyle and demand for premium properties remains strong. M.State is an excellent example of a development reaching the market that has been carefully considered and tailored to meeting the specific and exacting expectations of the high net worth buyer. As a result, we expect the five villas to be snapped up bydiscerning purchasers."
If sold at the asking price, the villas would be among the most expensive sold in Dubai.
More than $367 million worth of luxury villas valued at over AED5 million were sold on Palm Jumeirah in Dubai last year, according to new research.
The Palm also saw the sale of the most expensive villa sold last year in Dubai - a 7,613 square feet villa costing AED58.5 million ($15.9 million).
Analysis conducted by LuxHabitat, a Dubai-based luxury real estate company, revealed that over 60 percent of top-end villas sold last year in the emirate were located in Arabian Ranches, Palm Jumeirah and Emirates Hills.