Jumeira Bay 6-bedroom Dubai home sold for Dh240.5m Set new Record
A six-bedroom mansion on Jumeira Bay island sold for Dh240.5 million, setting a new price record for the 'Billionaire's Island'.Jumeira Bay is known for its luxury properties and prime location, making this sale a significant milestone in the real estate market there.
Janiffer Fernandez 
This 'not only sets a new record for the most expensive sale on Jumeirah Bay Island to date but also shatters previous records by a significant margin', according to a statement issued by Dubai Sotheby's International Realty, which managed the transaction.
This is just weeks after another Jumeira Bay home sold for Dh175 million. In the last three years, the destination has been very active in rewriting the record books and becoming an attractive option for high-net-worth investors. This Dh240.5 million deal was realized through the collaboration between Dubai and Saudi Arabia Sotheby's International Realty.
Erick Knaider, Managing Partner at Saudi Arabia Sotheby's International Realty, oversaw the sale of the 18,800-square-foot home. He went on: "The island's unique seahorse-shaped shoreline, coupled with its exclusive amenities, make it an irresistible location for ultra-high-net-worth individuals."
The deal is a fitting end to the first six months of 2024, with the Dubai property market continuing to be dominated by what is happening in the luxury and ultra-luxury sectors. "What these deals also do is set up the market nicely for the second-half of this year too," according to an estate agent. "Offplan or ready, there are more Dh100 million deals happening in Dubai real estate."
