Wed, Jun 5, 2024

Real Estate & Property
Jumeira Bay residence sets record for costliest villa sale

Driven Properties, a leading real estate brokerage, has announced that it has once again demonstrated its market dominance with a new record-breaking transaction, this time for the most expensive villa ever sold on Jumeira Bay Island. 

Part of the prestigious Sea Mirror project, an exclusive seafront community of architectural masterpieces designed by celebrated firm Jacobsen Arquitetura, the villa was sold by Driven Properties' star agents Lina Allaoa and Kianoush Darban for AED175 million ($47 million).

Set on a 15,000 sq ft plot with a built-up area of 17,500 sq ft, it boasts five opulent bedrooms, a 25m lap pool in the basement, a state-of-the-art gym, a spa, sauna and steam room, a wine cellar, a cigar room, and a magnificent rooftop terrace.

Sea Mirror is Dubai-based Lamar Development’s signature project, a striking example of modernist architecture seamlessly blended with natural elements. 

Category-defining and internationally renowned architects Jacobsen Arquitetura and Studio MK27 collaborated with interior designer Patricia Urquiola to create the limited collection of timeless and iconic residences, said the brokerage.

Each offers an unparalleled balance between openness and privacy, blurring the lines between exterior, interior, land, and water. Taking inspiration from nature, the materials and textures used produce a contemporary aesthetic of refined finishes and understated elegance.

Speaking on the record deal, Allaoa said: "Selling the most expensive villa on Jumeirah Bay Island is a remarkable achievement and a testament to our expertise and dedication at Driven Properties. Sea Mirror villas are not just a home; they are a lifestyle experience that embodies the pinnacle of luxury."

Building on the success of Sea Mirror, Lamar Development is currently preparing to launch “Sea Mirror Residences” on Dubai Water Canal, adjacent to the Four Seasons Residences. 

The project will feature one apartment per floor and 18 luxurious penthouses, each equipped with a private lift. Prices are set to start at AED20 million ($5.4 million) onwards, with groundbreaking happening soon and handover set for Q3 2026.

On the key achievement, Darban said the overwhelming interest in and swift sale of Sea Mirror villas highlight the allure and investment potential of this exceptional development. 

"We are incredibly proud to represent such an extraordinary project and contribute to its success," he added. 

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