Dh52 Million Villla in Raffles, The Palm, Dubai Home to a New Owner

The Palm Jumeirah tops the news headlines once again as one more high-value villa is sold for a whopping Dh52 Million.

Luxhabitat Sotheby’s International Realty says, "An European buyer acquired a four-bed Raffles Royal Villa at the Palm." Said property spans a BUA of 12,404sqft forms a part of the Raffles, The Palm Hotel, Dubai situated on the Palm Jumeirah Crescent.

Under the amazing design of Francesco Molon, this superb Villa has a Baroque-styled interior and is 1 of 5 for sale. A few of the prime highlights include Swarovski Chandeliers made with 24-Carat Gold Leaves, Private Spa, Massage Room, Scrub Room, Hammam, Rooftop Pool and Jacuzzi.

"The home is spread over four floors with its very own private elevator. On purchase of the home, the new owner will also have complete access to the Raffles hotel facilities, pool, gym, and a private beach, which has sand flown in from the Maldives," says Luxhabitat Sotheby’s International Realty.

The Villa's buyer is from Europe and was planning on getting a residence in Dubai for him and his family.

“Among the requirements stated were a ready villa that was fully furnished and serviced,” says Stephan Hirzel, the senior global property consultant at Luxhabitat Sotheby’s International Realty who was in charge of transacting the property.

The Luxury Real Estate Market of Dubai has seen an immense increase in demand this year as investors have regained trust in the ever growing property sectorf the emirate. Alpago Properties also offered a high-priced penthouse on Wednesday at the Palm Jumeirah for Dh250 Million.

Media recently reported that the Indian Business Tycoon, Mukesh Ambani bought a Palm Jumeirah Villa as well for his son, Anant for an approximate of Dh293 Million.

“The Raffles Royal Villa was a perfect fit for the buyer as he wants to live the pampered lifestyle with Raffles service and enjoys the prestige of living at a luxurious beach club," said Hirzel.

"We have been observing a trend of several UHNWIs arriving to Dubai looking for this level of five-star service with a world-renowned brand and looking to move into a serviced, fully furnished home immediately. The Raffles Residences & Penthouses is one of the few developments in Dubai that fulfill this exact need and ticks all the boxes,” he concluded.