Dubai Villa Sets New Record with $4.2M Annual Rent on Jumeira Bay

A luxurious villa on the shore of Jumeira Bay Island in Dubai has become the most expensive object of rent in the city: for one year, the owners demand 15.5 million dirhams (4.2 million dollars). The highly anticipated Prime by Betterhomes landmark transaction was sealed, with Sales and Leasing Manager Toni Abou Jaoude. This record indicates increased market for luxury real estate in Dubai.

Being a modern architectural marvel, this property is fully equipped to provide the best of luxurious amenities with an unobstructable view of the ocean and the Bvlgari Resort and Residences. Largely, high-wealth executives or business people shall be prospective clients for a mansion due to its characteristics of who, what, when, where, why, and how.

“This new record is a sign of the entry of a new benchmark to luxury renting prices in the country,” Jaoude said. “With Dubai as a popular destination for attracting wealthy international investors it is the high-end living spaces which are in much demand.”

New statistics from PRIME by Betterhomes suggest a 65% rise in sales over AED 15 million in the third quarter only supporting this view of Dubai as a global hub of luxury living. Many spots such as Jumeira Bay are located at the heart of this phenomenon, providing privacy, security, and superior living for residents.

Over time Dubai has continued to break new records as it continues to attract people in search of the best lifestyle.

Victoria Dickinson

Victoria Dickinson is a seasoned journalist at Dubai.News, specializing in real estate and business news. With over a decade of experience in the industry, Victoria has a keen eye for market trends and an in-depth understanding of the economic factors influencing the real estate sector. Based in Dubai, she provides insightful analysis and comprehensive coverage of the region's dynamic property market, from luxury developments to emerging business hubs. Victoria's background in economics and finance, coupled with her passion for storytelling, allows her to deliver news that is both informative and engaging. Her articles not only inform but also help readers make well-informed decisions in the competitive real estate landscape. Outside of her professional work, Victoria enjoys exploring Dubai’s diverse neighborhoods and attending industry events to stay ahead of the latest developments.