Another high-value sale was made in the luxury real estate market in Dubai.
A British high net worth individual purchased an exceptionally well-designed garden home villa at Palm Jumeirah for a record-breaking Dh67 million in a single sitting.
The DHB villa is now the most costly garden villa offered on the palm.
One of the leading architects in the area, Naga Architects, created the 10,000-square-foot, six-bedroom property, which was constructed by DHB Properties. One of the main features of the brand-new residence at Palm Jumeirah's Frond G, which is now regarded as the Middle East's billionaire's row, is the Japanese-inspired Zen Garden, a Koi fish pond at the center of the luxurious property, a pool on the ground level, as well as a lap pool on the top level next to the master bedroom.
"As day turns into night, a play on glass and water provides a movement of lights and shadows. Almost every room in the house has a view of the sea thanks to the floor-to-ceiling glass architecture, which ensures that all areas are saturated with natural light "says BlackOak Real Estate partner Riad Gohar.Record breaking garden villa
With an amazing business plan and leadership, BlackOak is a new generation of real estate companies that is competing against the more established, larger businesses. By investing in a group of top-notch agents skilled in real estate sales, investments, finance, and markets, it has developed a very professional institutional-style retail brokerage platform.
In order to list such a magnificent property on the palm, BlackOak was pleased to collaborate with DHB and Naga Architects. Walking inside the property, you can really see the architect's attention to detail and love, according to Imran Sheikh, founder, and CEO of BlackOak Real Estate.Targeting niche market
Gohar said that DHB Properties, a developer specializing in the specialized markets of luxury living and cutting-edge living experiences, had created the villa. Naga Architects, led by Dr. Shams Naga, are the ones that created the designs.
"In terms of design and construction standards, the home is exceptional. The buyer had been looking for a villa at a lower price range for a few months, but when he saw the DHB villa, he decided to buy it right away because there was nothing else like it on the market "says he.Lack of high-end luxury products
Sheikh claimed that the luxury market is booming due to the influx of HNWIs and UNWIs into the UAE and the dearth of high-end luxury goods.
In contrast to the high demand for flats in Dubai Marina, Palm Jumeirah, and Downtown/Business Bay, he noted, villas are in high demand in places like Palm Jumeriah, Dubai Hills, District 1, etc.
Sheikh, a 15-year veteran of the UAE's real estate market, works with significant family offices and organizations and has completed more than $2.5 billion worth of real estate transactions.