25 Degrees Sets New Record in Dubai Real Estate with $17 Million Villa Sale
Friday, 26 July 2024
Dubai-based property developer 25 Degrees has announced the sale of a stunning Palm Jumeirah mansion for a staggering $17 million (AED 62 million). This sale sets a new record for a remodeled Garden Home on the iconic man-made island. Completed in January 2024, the luxurious 5,800-square-foot private beach villa showcases the growing demand for high-end real estate in Dubai.
Booming Luxury Real Estate Market
- Rising Demand: This sale underscores the increasing appetite for upscale homes in Dubai’s luxury real estate market.
- Competitive Edge: “The residential real estate market in Dubai is booming, and we at 25 Degrees are riding the high side of this trend,” said David von Rosen, co-founder of 25 Degrees. He added that in Dubai’s competitive super-prime real estate market, “superior craftsmanship and construction make you stand out from the competition.”
25 Degrees: Crafting Ultra-Luxury Homes
- Specialization: The company specializes in creating ultra-luxury homes tailored for ultra-high-net-worth individuals (UHNWIs), with a strong focus on European-style villas.
- Ambitious Plans: 25 Degrees aims to sell 100 residences in the region by 2030. Currently, they are working on larger Signature villas on Palm Jumeirah, further solidifying their presence in Dubai’s luxury market.
Market Insights from Knight Frank
- Growth in Luxury Sales: According to Knight Frank, Dubai’s luxury real estate market has seen significant growth, with 431 sales expected to surpass $10 million in 2023.
- Palm Jumeirah’s Success: The Palm Jumeirah alone recorded 21 transactions over $10 million, totaling $365 million.
- Attracting Affluent Buyers: This growth is fueled by the influx of wealthy individuals drawn to Dubai’s exceptional lifestyle amenities and economic opportunities.
