Dubai garden villa sells for a record Dh67 million

Dubai luxury property sector witnessed another high-value deal.

An exceptionally well designed garden home villa at Palm Jumeirah sold for a record-breaking price of Dh67 million in a single sitting to a British high net worth individual.

This makes the DHB villa the most expensive garden home villa sold on the palm.

The six-bed room property comprising of 10,000 square foot is designed by one of the top architects in the region, Naga Architects and built by DHB Properties. The Japanese inspired Zen Garden, Koi fish pond at the heart of the luxury property, a pool at the ground level as well as a lap pool at the top level adjoining the master bedroom are some of the key features of the new property located at Palm Jumeirah's Frond G, which is now considered billionaire’s row of the Middle East.

"A play on glass and water creates a movement of lights and shadows as day moves into night. Floor-to-ceiling glass infrastructure ensures that all spaces are flooded in natural light with views of the sea from almost every part of the house," said Riad Gohar, partner at BlackOak Real Estate.

Record breaking garden villa

BlackOak is a new generation of real estate agency taking on the traditional larger players, with an exceptional business model and leadership. It has created a very professional institutional type retail brokerage platform by investing in a team of high-calibre agents trained in real estate sales, investments, finance and markets.

“BlackOak was proud to work with DHB and Naga Architects to list such a spectacular villa on the palm. The attention to detail and the passion of the architect is truly visible when walking through the villa,” said Imran Sheikh, founder and CEO of BlackOak Real Estate.

Sheikh attributes the credit of selling one of the most expensive and record breaking garden villa to his partner Riad Gohar who clinched the deal in a single viewing with the British buyer.

"Riad is a leader in the real estate industry with 18+ years of entrepreneurial experience, and takes a special focus on the luxury sector where he has transacted over $1 billion worth of properties," Sheikh said.

Targeting niche market

Gohar said the villa has been developed by DHB Properties, a developer focused on the niche market of luxury living and innovative living experiences. The designs are by Naga Architects spearheaded by Dr Shams Naga.

"The villa is unique both in terms of the style and the quality it has been built to. The buyer was looking for a villa for a few months at a lower price point, but when he saw the DHB villa, he immediately confirmed the villa as there was nothing comparable in the market," he said.

“Some of the finest brands from Europe, USA and further afield have been sourced to furnish and equip the villa, all hand selected by the designer Naga architects," he said.

• UAE: Rising fuel prices spur marked increase in business costs, says survey