real estate

Belleview completes record sale of Palm Jumeriah property

April 9, 2022

Boutique, luxury real estate agency Belleview Real Estate is celebrating smashing the record for a Dubai property sale after finding a buyer for a unique property on the coveted north fronds of Palm Jumeriah.

The previous long-standing record - of AED185m ($50.3 million) - has been unbeaten since 2015. While many transactions came close to that amount, it was leading luxury property broker Conor McKay who clinched the astounding deal at AED280 million ($76.2 million).

This enormous contemporary white villa features an enormous 33,000 sq ft of state-of-the-art living space, seven-star spa hotel facilities, (including a gym and a hair salon), imported and handpicked book-matched Italian marble, all furnished by uber-lux Italian furniture houses Giorgetti and Minotti. And don’t forget the property comes with more than 70 meters of private beachfront.

Real estate platform propertymonitor.com verified that the sale of this Palm Jumeirah villa sets a new record for the highest value residential villa sale in Dubai.

'To see a transaction of this magnitude illustrates the ongoing strength of Dubai's property market particularly in the ultra-high-end segment. The transaction not only beats the emirate's previous record but closes the gap between Dubai's luxury market and those of leading global cities such as London, New York, and Hong Kong,' remarked Property Monitor's COO, Zhann Jochinke.

For context, the highest value property in London is currently on the market for around $40 million; in New York, $169 million, and in Hong Kong $82.2 million.

Broker Conor McKay is no stranger to Dubai’s uber-luxury property market. He has a long history of selling luxury real estate. Having established himself as one of the top brokers in Emirates Hills, Palm Jumeriah, and Dubai Hills, he has won numerous third-party awards over the years.

Conor prides himself on giving expert advice to his clients, combined with a finely tuned, strategic approach to negotiations to ensure his clients get the best deal. Having sold more than AED750,000,000 in luxury real estate in 2021 alone, Conor is already shaping up to surpass that in 2022 with this record-breaking transaction.

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