2023-06-15 11:18:53
Competition is fierce to buy the luxury villa, designed in the style of the “Christian Palace”, which is offered for sale at 750 million dirhams in the Emirates Hills neighborhood in Dubai, as it attracted the interest of a group of buyers, led by an Indian and a Russian buyer, according to media reports.
According to the sources, the potential Indian buyer also lives in Emirates Hills and already owns 3 properties in the same upscale neighborhood, which constitutes an ultra-luxury and exclusive residential area for the elite of the rich, dignitaries and celebrities, usually called “Beverly Hills” Dubai.
The interior of the mansion is 60,000 square feet, although it only has five bedrooms. The main bedroom is 4,000 square feet, which is larger than most homes. The ground floor contains the dining and entertainment rooms.
The potential palace deal comes amid a wave of pricing by real estate companies for individual residential units of its kind, as a real estate developer offered a luxury apartment extending over three upper floors at a value of 750 million dirhams, which is almost the same value offered in the Palace of Versailles offered by Luxpetat. Sotheby’s International Realty.
Other recent mega deals include the sale of a vacant plot of land off the beach for Dh125 million, and the purchase of a penthouse overlooking the Arabian Gulf for Dh420 million. However, the price per square foot in the “Marble Palace” – of 12,500 dirhams – is more than double what other properties recorded in Emirates Hills, and the most expensive house in the area so far was sold for 210 million dirhams in August 2022, according to real estate records in Dubai.
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