A Dubai villa has sold for a record AED200m ($54m) in the luxury Lanai Island development.
Majid Al Futtaim Development, part of Majid Al Futtaim Properties, reported the sale, which is the highest fee ever recorded in the Tilal Al Ghaf district.
The prestigious gated community, is emerging as a highly sought-after destination for those seeking the ultimate in luxury living.
Dubai villa sale in Lanai Island
Designed in collaboration with award-winning South African architects SAOTA and with stylish interior finishes by world-renowned interior designer Kelly Hoppen, the Lanai Islands offers a limited collection of 13 ultra-luxury villas on a secluded private island rising from the crystal waters of a 150,000sq m recreational lagoon.
The recent sale of a Lanai Island property for AED200m was closed by Orange City Properties and underscores the strong demand for premium properties in Dubai, where the real estate market is currently at a 12-year record high.
The surge in demand for luxury properties in Dubai is driven by an influx of foreign investors drawn by the emirate’s burgeoning reputation as a safe haven.
Dubai is now ranked as one of the top cities in the world for luxury property investment, with Knight Frank placing the emirate at the top of its recent rankings report of the world’s biggest cities.
Despite the global economic slowdown, Dubai’s luxury real estate market has remained resilient, with investors continuing to show strong interest in the city’s upscale properties.
Located on a large corner plot with extensive landscaped gardens that extend to its private water frontage, the record-breaking Lanai Island home offers expansive living with over 30,000sq ft of gross floor area.
The villa features eight bedrooms, several unique features, including a floating lounge deck directly on the water, a sunken rooftop terrace with views across the lagoon, and a triple-height courtyard.
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