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February 3rd 2020Villa, Villa in MBR City

Villa in MBR City sold for Dh90m, costliest deal of 2019

Out of 10 costliest transactions of 2019, seven were villas, two apartments and one penthouse.

A villa in Mohammed bin Rashid City with plot size of 22,858 square feet was sold for Dh90 million, becoming the costliest deal of 2019.

According to data by property brokerage firm Luxhabitat, two properties each in MBR City, Downtown, and Emirates Hills; three in Palm Jumeirah and one from Umm Suqeim made it to the list of top 10 costliest transactions of 2019.

Out of 10 costliest transactions of 2019, seven were villas, two apartments and one penthouse.

A 5-bedroom penthouse with a built-up area of 24,018 sqft on Palm Jumeirah was second costliest deal last year, selling for Dh74 million followed by a 6-bed villa in Emirates Hills going for Dh64 million.

Two apartments in II Primo, Downtown, were sold Dh63.4 million and Dh43.55 million.

According to data provider Property Finder, Dubai registered a total of 41,988 real estate transactions in 2019 as compared to 34,961 in the previous year, growing by 20 per cent.

It is also the highest number of sales transactions registered annually in Dubai since 2008 when data became publicly available. There were 11,662 property sales transactions registered in Dubai in 2008. The Dubai real estate market has, therefore, grown by 260 percent in the past 11 years in terms of the volume of transactions. The second highest number of property sales transactions registered in Dubai since 2008 was in 2017 (40,649).

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