Dubai continues to break records, and the real estate business continues to outperform any city in the area. This time, a massive mansion was sold in Dubai, placing this enclave on the podium of such businesses, achieving a historical maximum within the market.
This residence is located in Hills Grove, Dubai Hills Estate, and was sold for a record price of 200 million dirhams (20 million euros), surpassing the sale made two months ago, where another mansion was sold for 145 million dirhams. This deal was represented by Dubai Sotheby’s International Realty in conjunction with senior global real estate consultant Renit Shah.
Hills Grove, luxury enclaves in Dubai.
Hills Grove is one of the most exclusive sites within Dubai Hills Estate and consists of a street where 26 mansions are currently located, surrounded by a golf course and nature. Due to its position within this neighborhood, this place was named the “Street of Dreams,” being one of the most coveted for super-wealthy individuals looking to invest in Dubai.
The sale of residences in this area has been very successful in recent years, where the company Dubai Sotheby’s International Realty conducted around five transactions in the zone, with values increasing with each sale. In the case of the mentioned residence, it represents a 62.5 percent increase compared to the first sale made in the district.
How is the most expensive mansion in Dubai?
The super mansion of Hills Grove has a land area of more than 3,500 square meters, with four levels, including a terrace and a basement. It also features a private garden and a boomerang-shaped pool, offering incredible views of the golf course and the city center and the Burj Khalifa. Additionally, it has nine bedrooms and is fully furnished with designs from some of the most prestigious decorators.
According to the executors of this sale, Dubai Hills Estate stands as one of the top destinations for the city’s elite, where the most exclusive residences are located. “This sets new benchmarks in pricing. As this young community continues to develop, its value will keep increasing,” they stated.
Dubai real estate market: the 2024 balance
The numbers in real estate continue to position Dubai as one of the star cities within the real estate market. According to statistics from October 2024, this enclave reached a historic high, with more than 20,000 transactions totaling 60.5 billion AED (17.47 billion euros). Multibillionaires from the UK, East Asia, and the United States continue to see this site as one of the most desirable.
The delivery of new homes increased by 50% in the third quarter of 2024, despite the fact that the supply of luxury mansions remains lower. Due to this trend, Hills Grove is positioned as the preferred and key site for the marketing of properties of this style, achieving great success among millionaires. Meanwhile, Dubai Sotheby’s International Realty is one of the industry leaders in this regard and consolidates itself as one of the top real estate agencies specializing in luxury and super-luxury markets.
