Property of the week: modern Dh100 million-plus Dubai Hills mansion boasting billiards room, gym, cinema and spa


Farah Andrews
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There is no doubt that the UAE is home to some spectacular properties. From penthouse apartments to plush villas with sprawling gardens and incredible pools, it’s a real estate haven.

Each week, The National showcases some of the finest homes on offer in its Property of the Week. Here, we take a look at a palatial property in Dubai Hills.

The key details 

This nine-bedroom, 10-bathroom property is spread across a sprawling 30,649 square feet, on a 34,961-square-foot plot. It boasts a private pool, cinema room, home office, a bar and golf course views.

The property is price on application, in the ballpark of Dh100 million ($27.2m) to Dh110m; it is being sold furnished and has been on the market for six months.

A resort-worthy swimming pool in the back garden. Courtesy Luxhabitat Sotheby's International Realty
A resort-worthy swimming pool in the back garden. Courtesy Luxhabitat Sotheby's International Realty

What's the story? 

Contemporary, chic and minimalist are just three words to describe this turnkey Dubai Hills home.

Boasting seven bedrooms and two guest rooms, all of which come with ensuite facilities, the property offers ample space for the whole family.

Set overlooking the greens and fairways of the Dubai Hills Golf Club, the house has been built for entertaining, with several formal lounges, a billiards room and a bar inside, as well as a garden complete with a spacious patio and terrace, al fresco dining areas and a large multi-level swimming pool.

Floor-to-ceiling windows ensure generous light throughout the home. And bringing the outside in, the back of the property features bi-fold doors, which open out to effortlessly merge the indoor and outdoor living areas.

Inside, there is a spa room, gym and a plush home cinema room, as well as a home office, for those who need to work remotely.

The property's plush home cinema. Courtesy Luxhabitat Sotheby's International Realty
The property's plush home cinema. Courtesy Luxhabitat Sotheby's International Realty

The kitchen is finished in high-quality marble, a modern aesthetic that continues throughout the bathrooms in the property.

Homeowners will be able to take their pick of formal and informal dining areas, with a lengthy dining table, stool and bar dining and al fresco patio areas all available to be enjoyed.

What the brokers say ... 

What makes this property worth its Dh100 million-plus price tag?

As a completely bespoke ready-to-move-in villa, it's a very in-demand property for ultra-high-end buyers. The property was conceptualised and designed by its British owner to the very best of material finishes and it shows in every detail of the villa.

What makes Dubai Hills such a desirable neighbourhood?

It's a brand-new, well-thought-out and well-planned community built around the golf course, which offers a [high-end] lifestyle with a whole array of amenities and facilities.

What makes this property stand out?

It is a luxury turnkey solution for anyone looking to move into a designer mansion that makes a statement.

Clean lines can be seen throughout the design-focused property. Courtesy Luxhabitat Sotheby's International Realty
Clean lines can be seen throughout the design-focused property. Courtesy Luxhabitat Sotheby's International Realty

What kind of buyer does a property like this attract?

European and GCC high-net-worth individuals, looking for a private family sanctuary.

What inspired the decor in the property?

The interior was inspired by nature and minimalism. The soft colours and dramatic lines bring the indoors a bit closer to the well landscaped outdoor surroundings.

What attracts high-end buyers to Dubai Hills?

Designer high-end homes created with bespoke materials. Years of design and planning are already done so that they can just buy and enjoy.

How long has the property been on the market?

The property has been ready and on the market for six months

– David Kodama, associate director at Luxhabitat Sotheby's International Realty, www.luxhabitat.ae

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New Zealand 57-0 South Africa

Tries: Rieko Ioane, Nehe Milner-Skudder (2), Scott Barrett, Brodie Retallick, Ofa Tu'ungfasi, Lima Sopoaga, Codie Taylor. Conversions: Beauden Barrett (7). Penalty: Beauden Barrett

MATCH INFO

Uefa Champions League final:

Who: Real Madrid v Liverpool
Where: NSC Olimpiyskiy Stadium, Kiev, Ukraine
When: Saturday, May 26, 10.45pm (UAE)
TV: Match on BeIN Sports

A Prayer Before Dawn

Director: Jean-Stephane Sauvaire

Starring: Joe Cole, Somluck Kamsing, Panya Yimmumphai

Three stars

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Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.

Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.

Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.

Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.

“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.

Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.

From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.

Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.

BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.

Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.

Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.

“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.

Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.

“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.

“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”

The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”

MATCH INFO

Austria 2
Hinteregger (53'), Schopf (69')

Germany 1
Ozil (11')

Who's who in Yemen conflict

Houthis: Iran-backed rebels who occupy Sanaa and run unrecognised government

Yemeni government: Exiled government in Aden led by eight-member Presidential Leadership Council

Southern Transitional Council: Faction in Yemeni government that seeks autonomy for the south

Habrish 'rebels': Tribal-backed forces feuding with STC over control of oil in government territory

Warlight,
Michael Ondaatje, Knopf