Tag: Gulf News

Dubai: A beachfront villa on Dubai’s exclusive Jumeirah Bay Island has changed hands for Dh280 million, in one of the most significant single-home transactions in the emirate, highlighting the growing appeal of ultra-prime properties among the world’s wealthiest buyers.

The sale of Villa Gaia, a six-bedroom waterfront mansion spanning nearly 22,000 square feet, comes as Dubai continues to attract high-net-worth individuals seeking luxury homes that offer privacy, exclusivity and long-term value rather than traditional investment assets.

Located within one of the city’s most tightly held residential enclaves, the property was designed as a one-off residence rather than part of a larger villa collection, reflecting a broader shift in buyer preferences toward highly customised homes with distinctive architectural identities.

Another sign

Industry observers say the transaction is another sign that Dubai’s luxury real estate market remains resilient despite global economic uncertainty, with demand continuing to concentrate around rare waterfront assets in established locations.

Developed by Alta Real Estate Development and designed by VSHD Design, Villa Gaia occupies a prime plot overlooking the Arabian Gulf. The residence combines contemporary architecture with expansive living spaces, floor-to-ceiling glazing and natural materials including Silver Travertine and timber.

Exclusive

The villa’s scale and amenities place it among Dubai’s most exclusive homes. Spread across four levels, it includes formal reception areas, a private office, guest accommodation, entertainment spaces, an infinity pool and a rooftop wellness retreat complete with a gym, spa, sauna and outdoor lounge overlooking the sea.

The property was also designed to cater to large gatherings while maintaining privacy for residents. A professional-grade catering kitchen can serve up to 50 guests, while underground facilities include dedicated staff quarters and climate-controlled parking for six vehicles.

Mohammad Al Tayer, Deputy Managing Director of Alta Real Estate Development, said the sale reflects Dubai’s growing status as a destination where affluent buyers are increasingly choosing to live rather than simply invest. “The fact that it has closed at this level reflects what Dubai’s market has become: a destination where the world’s most discerning buyers come not just to invest, but to live at the highest possible standard,” he noted.

The transaction adds to a series of headline-grabbing luxury home sales recorded in Dubai over the past few years, particularly in waterfront communities such as Jumeirah Bay, Palm Jumeirah and Emirates Hills.

Trend

Analysts attribute the trend to a combination of factors, including the UAE’s investor-friendly policies, lifestyle appeal, tax advantages and the increasing number of international entrepreneurs, family offices and wealthy individuals relocating to the emirate.

Dubai: Is the Dubai Water Canal the next go-to place for billionaire investors wanting pricey homes? Sure looks like it after a private family office representing a ‘European billionaire’ bought two duplex penthouses.

These units are part of the Mr. C Residences Jumeirah, where a single transaction came to over Dh120 million (about $32.7 million) — seen as indicative of demand for luxury property investments in Dubai sustaining itself into 2023.

Everose Properties, represented by Karl Shehfe and Gregory Mathieu, was the wealth management entity for the transaction.

The name of the buyer has not been revealed.

The transaction comes even as market feedback suggests there could be more of the eye-catching Dh100 million plus deals likely in the coming weeks. Last year results in record transactions in the super-premium space, with the costliest villa buys upwards of Dh300 million. There were also property deals that broke the Dh600 million mark.

The Mr. C Residences — featuring 27 bespoke units — is a project helmed by Maggio and Ignazio Cipriani of Mr. C, a luxury hospitality and residential brand, in alliance with Alta Real Estate. The latter is led by Abdullah Al Tayer.

“Dubai Water Canal is becoming a new billionaire’s row with Mr. C Residences Jumeirah attracting an influx of first-time investors from Europe,” said a statement.

“We are honored by the response we received from both the local and international communities, since the project is practically sold out,” says Ignazio.

“Living in Mr. C Residences Jumeirah is like embarking on a journey on a classic Italian yacht through the Arabian Gulf every day” – Ignazio Cipriani of Mr. C

Dubai: Ready for an apartment where the interiors give the feel of being on a luxury yacht? Then have a closer look at the ‘Mr. C Residences’, a brand new freehold property being built on off Dubai Water Canal.

It will be quite the limited edition offering, with only 27 units. Presales start this month.

The will be private elevators to each floor and the units come with private plunge pools and penthouses with private rooftop gardens.

The project is from a relatively new entrant – Alta Real Estate Development, owned by Abdulla Al Tayer and Ignazio Cipriani, part of “well-established families in the business and hospitality sectors”.

The ALTA strategy is to take on “high-visibility plots” that cater to “urban sophisticates” and providing “exclusive living spaces”.

The architect is Bernardo Fort Brescia of Miami-based firm Arquitectonica, while Will Meyer of New York City-based firm Meyer Davis will do the interiors. The building concept is taken from the “natural forms” in desert dunes and ocean waves.

In a statement, Ignazio Cipriani said: ”Mr. C is a concept my brother, Maggio, and I developed starting in Los Angeles and then expanded to New York City and Miami. Our goal was to create a timeless hotel brand that incorporates an environment of relaxed sophistication, attentive service, and European glamor. Our focus was on creating a timeless experience that survives trends and will remain relevant for many years to come.”

Luxhabitat Sotheby’s International Real Estate has been commissioned to handle the sales.

“This complex will add immeasurable value to the Dubai Canal,” said George Azar, CEO at the firm.