Dubai Witnesses Record-Breaking Land Sale Surpassing Dh300 Million.

In the highly coveted Jumeirah Golf Estates of Dubai, real estate powerhouses AveNew by RH, Pride and Property, and Landsmith Real Estate have successfully concluded a substantial land sale, boasting a valuation exceeding Dh300 million.

This landmark transaction, one of the most significant of its kind in Dubai, underscores the growing demand for golf course communities. This trend is fueled by a scarcity of available properties, sustained interest from both local and international investors, and the UAE's reputation as a real estate market conducive to investment.

Ranked among the world's top ten lifestyle estates, Jumeirah Golf Estates is a transit-oriented community comprising over 1,500 villas, townhouses, and apartments seamlessly connected to the metro. Adding to its allure, the opulent golf course community hosts the prestigious DP World Tour Championship (European Tour) final tournament.

The appeal of golf course-facing luxury villas, coupled with limited availability in Dubai, has generated considerable interest among top developers. Nitin Chauhan, director of Landsmith Real Estate, remarked, "After the project attains its final form, it will epitomize luxury living in golf course communities." Chauhan, a long-time participant and investor in Dubai real estate since the advent of freehold properties, emphasized the unique view of two Fairways offered by the plot.

Kunal Singh Sandhu, owner of Pride and Property, expressed optimism about the luxury property segment in Dubai, citing a surge in luxury-property buyers as a promising sign. Sandhu highlighted the significant time and effort invested by Pride and Property and its partners in facilitating the record-breaking transaction, stating, "We believe the best is yet to come for the luxury property in Dubai." Pride and Property, under Kunal's guidance since its 2008 inception, has achieved remarkable success in launching and managing projects for reputable developers in Dubai, particularly in the luxury real estate sector.

Knight Frank's 2023 ranking of the world's leading luxury real estate markets positioned Dubai in the top spot, accounting for 17% of the segment's global sales. The Dh300 million-plus land deal at Jumeirah Golf Estates in Dubai further underscores the city's trajectory toward an expanded luxury market and overall price increases, as indicated by industry experts.