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Dubai: Off-plan villa sold for a record Dh125 million in Jumeirah Bay

The 15,000sqft property, which is set for handover in early 2026, was purchased by an ultra-rich individual seeking a family residence and a home office

Published: Tue 24 Sep 2024, 10:45 AM

Updated: Tue 24 Sep 2024, 7:31 PM

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An off-plan villa at Jumeira Bay Island's Sea Mirror community in Dubai has been sold for a record-breaking Dh125 million.

Sold by Penthouse.ae, the company said this marked the most expensive off-plan villa sale of the year.

The 5-bedroom 15,000 sqft villa, which is set for handover in early 2026, was purchased by a European UHNWI seeking a family residence and a home office. This transaction represents the buyer’s first investment in the UAE.

“This record-breaking sale underscores Dubai’s unwavering position as a global leader in luxury real estate. The emirate’s strategic vision, coupled with its world-class infrastructure and unparalleled lifestyle offerings, continues to attract discerning international investors.

"We are proud to have facilitated this landmark transaction and establish a new benchmark for off-plan sales. Our deep understanding of Dubai’s property landscape and our commitment to delivering personalized service ensure that clients benefit from the most lucrative investment opportunities available,” said Marcus Andersson, director of sales, Penthouse.ae.

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Sea Mirror has 18 unique private homes. The villas are designed by international architects Jacobsen Arquitetura and Studio MK27, Brazilian design firms known for their numerous national and international design awards while the interiors are designed by Patricia Urquiola, a Milan-based designer whose work is featured in leading global museums. The properties are equipped with expansive indoor and outdoor spaces, complemented by world-class amenities from the neighbouring Bulgari Resort, Marina, and Yacht Club.

Antonio Caviglia, the agent responsible for the sale, said the understanding of client’s specific needs was key to securing this landmark sale.

“They were initially interested in an apartment, so we showed them three properties before we identified and recommended the Sea Mirror villa as a perfect fit, as it offered the space, functionality and prestigious location they desired. The unmatched design and amenities at Sea Mirror truly elevated the property for them and it was a unique opportunity for them to acquire a one-of-a-kind Dubai residence,” he said.

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