Just when you thought Dubai’s property market couldn’t get any more mind-boggling, along comes news that the world’s most expensive apartment has been sold for a record-breaking $112 million.
The venture capital fund will start in June 2022 and last for eight years, with a two-year extension option. More than 8,000 jobs for newcomers are expected to be created.
The Bulgari Resort and Residences transaction shows that the luxury segment of Dubai’s real estate market is outperforming all others, with prices continuing to rise.
Samana Waves in Jumeirah Village Circle will have over 200 apartments when it is completed in 2025.
The Dubai Land Department reported a total of 2,098 real estate transactions worth AED4.5 billion during the week ending February 18, 2022.
The Dubai real estate market recorded 5,797 sales transactions worth Dh16.69 billion last month, making it the best January on record, according to Property Finder’s monthly report released on Thursday.
Employees of international corporations can now apply for Dubai’s new five-year multi-entry visa.
The Expo 2020 Dubai event is intended to help tourism, hospitality, retail, transportation, and banking.
Potential buyers are lining up to get a piece of Dubai’s lucrative real estate, demonstrating how the sector is recovering from the Covid pandemic.
The most expensive transaction took place on Palm Jumeirah, where a villa was sold for Dh37 million.