Leading global real estate consultancy, Knight Frank is pleased to announce the successful sale of Villa R8, a distinctive property located within Al Barari community. The custom-built villa, spanning 11,646 sq ft on a 12,905 sq ft plot, has been sold for AED 42 million.
Villa R8 showcases meticulous craftsmanship and modern design features. With finishes including Calacutta marble flooring, a Poggenpohl kitchen, Gaggenau appliances, and comprehensive home automation, the property offers a harmonious blend of luxury and functionality. The villa’s furnishings, provided by Fendi and Minotti, along with specially commissioned artwork, contribute to its distinct ambiance. Noteworthy architectural elements include a floating primary suite that provides serene views of the surrounding green gardens.
Al Barari’s reputation as a prime luxury destination remains persistent, experiencing a notable 14% year-on-year increase in property prices. Villa R8 joins the roster of ultra-prime $10 million-plus sales in Dubai. According to Knight Frank’s Dubai Residential Market Review, 2023 report, Dubai is positioned as the global leader for $10 million-plus homes, with over 188 such properties sold during the first half of the year. Al Barari represents one of Dubai’s most eco-friendly communities, attracting new residents while continually introducing new retail outlets, dining options, and amenities, including upcoming communities like Chorisia.
Representing the seller, Andrew Cummings, Partner – Head of Prime Residential at Knight Frank says: “The record-breaking success of Al Barari comes as no surprise. Developers in the region have stepped up their game and are producing custom built villas that are perfectly encapsulating buyer demand. Through a strategic marketing approach and our trusted partnership with the seller, we witnessed over 100 top brokers visiting the villa to enable maximum exposure. This was a triumph in collaboration demonstrating how brokers can work best for all parties when they work together.”
Elaborating on the future prospects, Cummings added, “We’re also excited to announce the upcoming launch of Villa R9 by the same developer, located right next door. This new release will feature an upgraded version of R8, offering over 15,000 sq ft of built-up area and a generous land plot of nearly 20,000 sq ft.”
Dubai is experiencing a widespread positive impact. With 368 units due in the city’s prime neighbourhood of the Palm Jumeirah, Emirates Hills, and Jumeirah Bay Island, combined with the global trend of affluent individuals seeking green sanctuaries, it’s leading to the rapid rise of inland communities towards prime status. One noteworthy example is Al Barari, which is poised to join the exclusive list of Dubai’s prime neighbourhoods.
With a 111% price increase since January 2022, Al Barari is now on par with Dubai’s established prime areas that have seen capital values grow by 125% during the same period.
The sale of Villa R8 stands as a significant milestone, reflecting Al Barari’s position as a prominent luxury destination. This accomplishment reiterates Dubai’s status as a hub for luxury real estate while reaffirming Knight Frank’s commitment to facilitating exceptional prime residential transactions.
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