Allsopp & Allsopp’s Private Office has set a new record in the off-plan property segment of Dubai Real Estate through the sale of a seven bedroom mansion in Tilal Al Ghaf for AED 105 million. From the same sale, it can be determined that the price per square meter is AED3,416, which is 15 percent higher than the average price for similar units. It breaks the record of the most expensive villa sale in Tilal Al Ghaf, which is the first residential project in Dubai by Majid Al Futtaim.
Luxury Market Competition
Tilal Al Ghaf has moved to the level of pricing similar to that of other luxury districts in Dubai including Emirates Hills, Palm Jumeriah, and Mohammed Bin Rashid City. It is gradually establishing itself as one of the luxurious brands integrated with superior products costlier than most consumers can afford. “Tilal Al Ghaf is one of the largest and sought after new luxury projects in Dubai” commented Lewis Allsopp, Chairman of Allsopp & Allsopp. He specifically pointed to the record-setting selling price and then increasing confidence for more large transactions.
Record-Setting Achievements
The sale of the mansion in Lanai Island proves the achievement of company focuses on luxury property business such as Allsopp & Allsopp. The team from the Private Office has also found record of selling the property at a rate of AED4,485 per sq ft within Al Barari and the record of the highest sale, which is AED 32. 5m within the Jumeirah Islands.
Exclusive Design
The Hawaii property of Lanai Island is focused on developing the select number of luxury villas created by South African Saota architects and Kell Hoppen interiors. This uniqueness of design coupled with the prime location in Dubai have given it record sales and the right fit for the luxury market.
