Chris Boswell has secured over $1.16 billion in real estate sales, which includes international deals in Dubai, Abu Dhabi, London, Paris, Los Angeles and New York. Since 2006 he has sold 100 Palm Jumeirah properties.
It’s hard to believe that the public first laid eyes on the Palm Jumeirah over 20 years ago.
Back then it became widely known as the ‘Eighth Wonder of the World’ and that tag is as true today as it was back then, a feat of design and engineering that is second-to-none across the globe.
It’s fair to say that real estate on the Palm Jumeirah has been another phenomena – with apartment and villa prices withstanding even the greatest of challenges: the financial crash of 2008, plummeting oil prices and the recent global pandemic.
At 20 years old, Dubai’s Palm Jumeirah remains a feat of design and engineering that is second-to-none across the globe.
That’s not to say the financial crash, in particular, didn’t have an impact. Real estate agents’ phones simply stopped ringing, there were no more buyer walk-ins to agency offices. Everything halted.
Then out of nowhere came a surge in calls from clients wanting to sell their properties which was unlike anything the market had experienced before. The years prior were a buying frenzy, almost indescribable. It had flipped and now suddenly, agents became inundated with clients instructing them to sell their palm properties and fast. Many even offering to include their luxury personal vehicles as part of the deal. It was surreal and so the first cycle began.
The next two years to follow brought a new type of investor with some end users purchasing discounted real estate to either hold or resell later.
But the appetite for properties on the Palm has only increased, with the destination home to dignitaries and celebrities, sports stars, UAE nationals and expatriates.
I had the fortune of selling the first few completely redesigned, cutting edge, modern and minimal villa masterpieces in 2014 and 2015 which were truly unlike anything we had seen prior. In 2015 came the most expensive freehold private residence sale in Dubai’s history and The Palm Jumeirah’s highest ever private home sale, which I personally closed, for AED185 million ($50m).
Clients are coming from all over the globe, including Miami, Monte-Carlo, London and Milan, all requiring real estate on the Island – specifically contemporary style homes with minimalist elevations. Many are end users and wish to make Dubai their full time residence.
The Palm has a limited amount of beachfront villas, hence the increase in value offers a community experience unlike any other places I’ve seen. It also offers an unrivalled lifestyle with world class amenities right outside your front door – from the gated 247 security, infrastructure, five-star amenities and a ten-mile long breakwater crescent with some of the most luxurious and globally recognised condominium developments.
May saw the sale of a $19m ‘masterpiece’ by German property developer and investor Holger Albers.
The recent sale of Michael Alibhai’s One100 Palm was a true game changer and set a new architectural benchmark for super-villa’s on the island. The 2019 sale of 924 Bel Air Road in Los Angeles, which was also a pioneering masterpiece, is very reminiscent of builds similar to what we are seeing here which is so exciting for the Palm marketplace.
Property sales in other major cities by price per square foot comparison shows the Palm has always offered incredible value especially in terms of the price comparability.
But prices are increasing and doing so quite dramatically. Since January of this year, The Palm has seen a surge in luxury sale activity which includes three AED100m+ luxury villa deals proving it’s one of the most attractive locations in the region for high net worth buyers. And in May it saw the sale of a $19m (AED70.2m) ‘masterpiece’ by German property developer and investor Holger Albers.
That’s why I believe my 2015 sale record could soon be usurped as competition to land an ultra-prime spot on this iconic island continues to gather pace in leaps and bounds.
Chris Boswell has secured over $1.16 billion in real estate sales, which includes international deals in Dubai, Abu Dhabi, London, Paris, Los Angeles and New York. Since 2006 he has sold 100 Palm Jumeirah properties.
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By ITP
More of this topic
Why $50m Palm Jumeirah sales record could be beaten in near future
‘Eighth Wonder of the World’ celebrates 20 years this year, and popularity among investors is as strong as ever
Chris Boswell has secured over $1.16 billion in real estate sales, which includes international deals in Dubai, Abu Dhabi, London, Paris, Los Angeles and New York. Since 2006 he has sold 100 Palm Jumeirah properties.
It’s hard to believe that the public first laid eyes on the Palm Jumeirah over 20 years ago.
Back then it became widely known as the ‘Eighth Wonder of the World’ and that tag is as true today as it was back then, a feat of design and engineering that is second-to-none across the globe.
It’s fair to say that real estate on the Palm Jumeirah has been another phenomena – with apartment and villa prices withstanding even the greatest of challenges: the financial crash of 2008, plummeting oil prices and the recent global pandemic.
That’s not to say the financial crash, in particular, didn’t have an impact. Real estate agents’ phones simply stopped ringing, there were no more buyer walk-ins to agency offices. Everything halted.
Then out of nowhere came a surge in calls from clients wanting to sell their properties which was unlike anything the market had experienced before. The years prior were a buying frenzy, almost indescribable. It had flipped and now suddenly, agents became inundated with clients instructing them to sell their palm properties and fast. Many even offering to include their luxury personal vehicles as part of the deal. It was surreal and so the first cycle began.
The next two years to follow brought a new type of investor with some end users purchasing discounted real estate to either hold or resell later.
But the appetite for properties on the Palm has only increased, with the destination home to dignitaries and celebrities, sports stars, UAE nationals and expatriates.
I had the fortune of selling the first few completely redesigned, cutting edge, modern and minimal villa masterpieces in 2014 and 2015 which were truly unlike anything we had seen prior. In 2015 came the most expensive freehold private residence sale in Dubai’s history and The Palm Jumeirah’s highest ever private home sale, which I personally closed, for AED185 million ($50m).
Clients are coming from all over the globe, including Miami, Monte-Carlo, London and Milan, all requiring real estate on the Island – specifically contemporary style homes with minimalist elevations. Many are end users and wish to make Dubai their full time residence.
The Palm has a limited amount of beachfront villas, hence the increase in value offers a community experience unlike any other places I’ve seen. It also offers an unrivalled lifestyle with world class amenities right outside your front door – from the gated 247 security, infrastructure, five-star amenities and a ten-mile long breakwater crescent with some of the most luxurious and globally recognised condominium developments.
The recent sale of Michael Alibhai’s One100 Palm was a true game changer and set a new architectural benchmark for super-villa’s on the island. The 2019 sale of 924 Bel Air Road in Los Angeles, which was also a pioneering masterpiece, is very reminiscent of builds similar to what we are seeing here which is so exciting for the Palm marketplace.
Property sales in other major cities by price per square foot comparison shows the Palm has always offered incredible value especially in terms of the price comparability.
But prices are increasing and doing so quite dramatically. Since January of this year, The Palm has seen a surge in luxury sale activity which includes three AED100m+ luxury villa deals proving it’s one of the most attractive locations in the region for high net worth buyers. And in May it saw the sale of a $19m (AED70.2m) ‘masterpiece’ by German property developer and investor Holger Albers.
That’s why I believe my 2015 sale record could soon be usurped as competition to land an ultra-prime spot on this iconic island continues to gather pace in leaps and bounds.
Chris Boswell has secured over $1.16 billion in real estate sales, which includes international deals in Dubai, Abu Dhabi, London, Paris, Los Angeles and New York. Since 2006 he has sold 100 Palm Jumeirah properties.
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