DUBAI // If you have to ask how much this house on the Palm Jumeirah costs, you probably can't afford to inspect it.
The most expensive home on the market in the emirate has a price tag of Dh250 million, but only the elite will be able to lay their eyes on it.
For that price you get the 45,000-square-foot mansion with its 10 bedrooms, four majlis areas, two family rooms and two study areas, a basement cinema seating up to 70 people, indoor and outdoor swimming pools and a sauna. Add to that magnificent sea views from its vantage on the end of one of the Palm's fronds, private beach access, gardens and space to park 20 cars within its compound walls.
Only a select few from a list of sheikhs, celebrities and industrialists will be eligible to inspect the 60,000 sq ft property.
"We're looking for a high-profile buyer for the most exclusive, high-end luxury property to go on sale in Dubai," said Myles Bush, director of Power House Properties, which has been chosen to sell the villa. "What makes this special is that it is a one-off trophy property.
"It sits on land that is four times larger than a normal Signature Villa on the Palm. It has 180-degree sea views."
"It is meant for a person who wants complete privacy and security, and does not want to be disturbed," Mr Bush said.
The property has been on the market for a week, and the realtor requires a profile of interested buyers before opening it for viewing.
The contemporary mansion, owned by a businessman, has been crafted in glass and steel, with expansive glass-to-ceiling windows.
The next most-expensive villa on the Palm Jumeirah was listed last month at Dh175m. Sale prices for villas there went up by 7 per cent this quarter from the previous quarter, according to the Asteco property consultancy.
Villas in Dubai's high-end Emirates Hills neighbourhood sell for between Dh60m and Dh100m.
Experts said the property market in Dubai was on a positive track. They said prices had risen in prime locations such as Palm Jumeirah, Emirates Hills, Arabian Ranches and the Meadows this year after three years of dipping caused by the economic downturn.
"This [the Palm villa] will not be an investment but a luxury item, and the key concern for the super-rich is security and privacy," said Ian Albert, regional director at the property consultancy Colliers.
"These properties very rarely come up for sale. Yes, the villa market has moved up significantly in the last two quarters. But at the very top end in Dubai, London, Paris or New York, the movement of the property market has little impact.
"The super-rich will remain super-rich. They operate outside normal market conditions."
Mr Bush said: "It is an exciting time to be in the market. We already have had a varied response from people, who purely want a nice look to serious representatives of buyers."
