$28m Dubai villa is the most expensive sale in Emirates Hills this year


Ian Oxborrow
  • English
  • Arabic

A luxury villa in Dubai's Emirates Hills has sold for Dh102.8 million ($27.9m) — the highest sale in the community so far this year.

The villa was sold by Myles Bush of Phoenix Homes, which said it is the second most expensive sale recorded in Emirates Hills.

The property, which sits on a plot of 38,000 square feet, has a built-up area of more than 20,000 square feet. It backs on to the Montgomerie Golf Club, and comes with five bedrooms, a private cinema, a swimming pool and a gym. It was sold by a Maltese businessman to an Indian entrepreneur.

Dubai's prime property sector has boomed in the past year, with prices rising almost 60 per cent in the past 12 months.

Mr Bush, who sealed deals for Dubai’s most expensive villa in 2016, its largest land sale in 2017 and its largest residential lease in 2019, said the sale "underlines the positive growth trajectory we are seeing in local real estate". He will receive a seven-figure commission as a result of Phoenix Homes' 80 per cent commission model.

The deal follows the recent record set for the most expensive sale of a residential property in Dubai.

A villa on Palm Jumeirah was sold by Belleview Real Estate's Conor McKay for Dh280m, eclipsing the previous record held for more than seven years by real estate broker Chris Boswell, who sold a Palm Jumeirah beachfront palace for Dh185m in 2015.

“It’s interesting to note that this year’s record-breaking sale also came from an agency which offers its brokers a similar 80 per cent commission model,” Mr Bush said.

"This is clearly the way forwards for high-achieving agencies to attract the best talent.”

Also, an apartment at the Bulgari Resort and Residences in Dubai last month set a record for the highest price per square foot in the city. The three-bedroom property on Jumeirah Bay Island sold for Dh40m — which equates to Dh12,624 per square foot.

Dubai registered 25,972 property transactions in the first quarter of this year, the highest number of quarterly deals since 2010, according to Mo’asher, the emirate’s official sales price index issued by the Dubai Land Department in partnership with Property Finder.

The emirate's property market has made a strong recovery from the pandemic-driven slowdown as the UAE's economy improves, helped by fiscal and monetary measures.

Consultancy Knight Frank reported a record-breaking 93 ultra-prime home sales last year and another 32 ultra-prime deals in the first quarter of 2022, exceeding the second best annual total set in 2015.

Prime areas include Palm Jumeirah, Emirates Hills and Jumeirah Bay Island, among others.

EA Sports FC 25
JOKE'S%20ON%20YOU
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Sole survivors
  • Cecelia Crocker was on board Northwest Airlines Flight 255 in 1987 when it crashed in Detroit, killing 154 people, including her parents and brother. The plane had hit a light pole on take off
  • George Lamson Jr, from Minnesota, was on a Galaxy Airlines flight that crashed in Reno in 1985, killing 68 people. His entire seat was launched out of the plane
  • Bahia Bakari, then 12, survived when a Yemenia Airways flight crashed near the Comoros in 2009, killing 152. She was found clinging to wreckage after floating in the ocean for 13 hours.
  • Jim Polehinke was the co-pilot and sole survivor of a 2006 Comair flight that crashed in Lexington, Kentucky, killing 49.
David Haye record

Total fights: 32
Wins: 28
Wins by KO: 26
Losses: 4

RACECARD
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The specs

AT4 Ultimate, as tested

Engine: 6.2-litre V8

Power: 420hp

Torque: 623Nm

Transmission: 10-speed automatic

Price: From Dh330,800 (Elevation: Dh236,400; AT4: Dh286,800; Denali: Dh345,800)

On sale: Now

Specs
Engine: Electric motor generating 54.2kWh (Cooper SE and Aceman SE), 64.6kW (Countryman All4 SE)
Power: 218hp (Cooper and Aceman), 313hp (Countryman)
Torque: 330Nm (Cooper and Aceman), 494Nm (Countryman)
On sale: Now
Price: From Dh158,000 (Cooper), Dh168,000 (Aceman), Dh190,000 (Countryman)
Bullet%20Train
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'Ghostbusters: From Beyond'

Director: Jason Reitman

Starring: Paul Rudd, Carrie Coon, Finn Wolfhard, Mckenna Grace

Rating: 2/5

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Infiniti QX80 specs

Engine: twin-turbocharged 3.5-liter V6

Power: 450hp

Torque: 700Nm

Price: From Dh450,000, Autograph model from Dh510,000

Available: Now

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RESULT

Esperance de Tunis 1 Guadalajara 1 
(Esperance won 6-5 on penalties)
Esperance: Belaili 38’
Guadalajara: Sandoval 5’

SM Town Live is on Friday, April 6 at Autism Rocks Arena, Dubai. Tickets are Dh375 at www.platinumlist.net

Schedule
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If you go
Where to stay: Courtyard by Marriott Titusville Kennedy Space Centre has unparalleled views of the Indian River. Alligators can be spotted from hotel room balconies, as can several rocket launch sites. The hotel also boasts cool space-themed decor.

When to go: Florida is best experienced during the winter months, from November to May, before the humidity kicks in.

How to get there: Emirates currently flies from Dubai to Orlando five times a week.
Sustainable Development Goals

1. End poverty in all its forms everywhere

2. End hunger, achieve food security and improved nutrition and promote sustainable agriculture

3. Ensure healthy lives and promote well-being for all at all ages

4. Ensure inclusive and equitable quality education and promote lifelong learning opportunities for all

5. Achieve gender equality and empower all women and girls

6. Ensure availability and sustainable management of water and sanitation for all

7. Ensure access to affordable, reliable, sustainable and modern energy for all

8. Promote sustained, inclusive and sustainable economic growth, full and productive employment and decent work for all

9. Build resilient infrastructure, promote inclusive and sustainable industrialisation and foster innovation

10. Reduce inequality  within and among countries

11. Make cities and human settlements inclusive, safe, resilient and sustainable

12. Ensure sustainable consumption and production patterns

13. Take urgent action to combat climate change and its effects

14. Conserve and sustainably use the oceans, seas and marine resources for sustainable development

15. Protect, restore and promote sustainable use of terrestrial ecosystems, sustainably manage forests, combat desertification, and halt and reverse land degradation and halt biodiversity loss

16. Promote peaceful and inclusive societies for sustainable development, provide access to justice for all and build effective, accountable and inclusive institutions at all levels

17. Strengthen the means of implementation and revitalise the global partnership for sustainable development

RESULTS

5pm Maiden (PA) Dh70,000 (Dirt) 1,400m

Winner AF Nashrah, Tadhg O’Shea (jockey), Ernst Oertel (trainer)

5.30pm Maiden (PA) Dh70,000 (D) 1,400m

Winner Mutaqadim, Riccardo Iacopini, Ibrahim Al Hadhrami.

6pm Maiden (PA) Dh70,000 (D) 1,600m

Winner Hameem, Jose Santiago, Abdallah Al Hammadi.

6.30pm Maiden (PA) Dh70,000 (D) 1,600m

Winner AF Almomayaz, Sandro Paiva, Ali Rashid Al Raihe.

7pm Handicap (PA) Dh70,000 (D) 1,800m

Winner Dalil Al Carrere, Fernando Jara, Mohamed Daggash.

7.30pm Handicap (TB) Dh70,000 (D) 1,000m

Winner Lahmoom, Royston Ffrench, Salem bin Ghadayer.

8pm Handicap (PA) Dh70,000 (D) 1,000m

Winner Jayide Al Boraq, Bernardo Pinheiro, Khalifa Al Neyadi.

Full Party in the Park line-up

2pm – Andreah

3pm – Supernovas

4.30pm – The Boxtones

5.30pm – Lighthouse Family

7pm – Step On DJs

8pm – Richard Ashcroft

9.30pm – Chris Wright

10pm – Fatboy Slim

11pm – Hollaphonic

 

Top 5 concerns globally:

1. Unemployment

2. Spread of infectious diseases

3. Fiscal crises

4. Cyber attacks

5. Profound social instability

Top 5 concerns in the Mena region

1. Energy price shock

2. Fiscal crises

3. Spread of infectious diseases

4. Unmanageable inflation

5. Cyber attacks

Source: World Economic Foundation

Analysis

Maros Sefcovic is juggling multiple international trade agreement files, but his message was clear when he spoke to The National on Wednesday.

The EU-UAE bilateral trade deal will be finalised soon, he said. It is in everyone’s interests to do so. Both sides want to move quickly and are in alignment. He said the UAE is a very important partner for the EU. It’s full speed ahead - and with some lofty ambitions - on the road to a free trade agreement. 

We also talked about US-EU tariffs. He answered that both sides need to talk more and more often, but he is prepared to defend Europe's position and said diplomacy should be a guiding principle through the current moment. 

 

How to avoid crypto fraud
  • Use unique usernames and passwords while enabling multi-factor authentication.
  • Use an offline private key, a physical device that requires manual activation, whenever you access your wallet.
  • Avoid suspicious social media ads promoting fraudulent schemes.
  • Only invest in crypto projects that you fully understand.
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Review: Tomb Raider
Dir: Roar Uthaug
Starring: Alicia Vikander, Dominic West, Daniel Wu, Walter Goggins
​​​​​​​two stars

SPECS
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Updated: May 12, 2023, 1:41 PM`