The real estate market in Dubai witnessed the sale of a plot of land in Al Sufouh Gardens for approximately US $192mn.
The Dubai Land Department recorded that the plot spanning 85,080sqft sold at a price of US $3,305 per sqft.
Despite regional tensions, Dubai’s real estate market continues to draw significant investment demand for land, villas, residential and commercial units. Sales such as this highlight the confidence investors and end users place in the emirate’s property market, said a report.
The recent sale of a villa on the World Islands, which sold for approximately US $60mn further drives the message of resilience and confidence. The villa is part of the Amali Island project and covers 58,801sqft, and commanded a rate of US $1,031 per sqft.
