Majid Al Futtaim Development, part of Majid Al Futtaim Properties, said it has set a new benchmark for luxury real estate in Dubai, with the recent sale of a Lanai Island luxury mansion for AED200 million ($54.4 million), the highest recorded sale to date at Tilal Al Ghaf.
Designed in collaboration with award-winning South African architects SAOTA and with stylish interior finishes by world-renowned interior designer Kelly Hoppen, the Lanai Islands offers a limited collection of 13 ultra-luxury villas on a secluded private island rising from the crystal waters of a 150,000 sq m recreational lagoon, stated the developer.
These villas have become a favourite among the ultra-high-net-worth-individuals (UHNWIs) segment, an exclusive global community that increased by nine per cent last year, it added.
The recent sale of a Lanai Island property for AED200 million was closed by Orange City Properties and underscores the strong demand for premium properties in Dubai, where the real estate market is currently at a 12-year record high.
Located on a large corner plot with extensive landscaped gardens that extend to its private water frontage, the record-breaking Lanai Island product offers expansive living with over 30,000 sq ft of gross floor area (GSA), stated the developer.
The villa features eight bedrooms, several unique features, including a floating lounge deck directly on the water, a sunken rooftop terrace with unrivalled 360 views across the lagoon, and a triple-height courtyard that brings light and lush greenery into the very heart of the home, it added.-TradeArabia News Service
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