The real estate market in Dubai has recorded a landmark sale of an under-construction villa for a remarkable 220 million dirhams.
Data from the Dubai Land Department indicates that the villa, situated in the World Islands’ project “Amali Island,” features seven bedrooms and a spacious living area, covering an area of 58,082 square feet, which means the price per square foot amounts to 3,788 dirhams.
This unprecedented transaction highlights the allure of one of Dubai’s premier luxury waterfront destinations, occurring amidst regional tensions in the Gulf, reflecting the sustained confidence of global investors in the emirate’s luxury real estate market, especially in unique waterfront projects with limited availability.
Amali Real Estate is developing the Amali Island project at a cost of 2 billion dirhams, which will comprise only 24 villas, with completion targeted for the first quarter of 2027.
Real estate sales on Thursday opened with a total of 738 million dirhams, resulting from 198 transactions.