A luxury apartment in Dubai has been sold off-plan for AED422 million ($114.91 million), and the deal has been hailed as powerful sign of confidence in the city’s real estate market, and security in the UAE.
The sale yesterday of the 31,201-sq-ft apartment at Aman Residences Dubai on the Jumeirah Peninsula, has been confirmed by fäm Properties.
Data from DXBinteract, the data platform developed by the company in partnership with Dubai Land Department, said the transaction put the value at AED13,525 per sq ft.
Firas Al Msaddi, CEO of fäm Properties, said: “The sale of an ultra-luxury villa at this level is particularly relevant in the current circumstances. It underlines the fact that the Dubai real estate market is structurally stronger than it has ever been.
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