Luxury Mansions: the Three Most Expensive Villas in Dubai’s History

Luxury Mansions: the Three Most Expensive Villas in Dubai’s History

The city of Dubai has the highest cost of living and the highest property prices in the United Arab Emirates. While you can find relatively cheap houses and flats in some districts, top floor penthouses and villas by the Persian Gulf cost a fortune. Dollar billionaires set several records on Dubai's property market in 2022, spending millions to buy the most expensive high-end properties on the artificial island of Palm Jumeirah.

The local real estate market, including the one for luxury properties, has clearly recovered from the pandemic. The local media of the biggest city in the UAE focused on sales of Dubai's most expensive houses in 2022. Interestingly, the previous record remains unbeaten since 2015 when a property was acquired for AED 185,000,000 (about USD 50,000,000 at the current exchange rate).

Villa with an Indoor Pool, a Hair Salon and Rooftop Jacuzzi

At the end of March 2022 the Belleview Real Estate agency proudly announced its biggest sale. One of their agents closed a deal for AED 280 million (USD 76,200,000) for a villa on Palm Jumeirah. The lucky broker is Conor McKay from Ireland. His success story brings to mind the tale of Cinderella: he borrowed money for a ticket to Dubai, only to become a millionaire here by the age of 25. Incidentally, here we will concentrate on the mansion.

Photo: Belleview Real Estate

The villa occupies an area of over 3,000 square metres. The new owners of the 10 bedroom house also obtained a cinema, gym and hair salon, as well as a wine cellar and a Jacuzzi on the roof. Moreover, the agent claims that it is the only villa on Palm Jumeirah with both indoor and outdoor pools. The latter is located by a 70 metre private beach in the "backyard".

Photo: Belleview Real Estate

Photo: Belleview Real Estate

At first, nobody knew who had bought the property. Subsequently, the media reported that the Indian businessman Mukesh Ambani had bought the house in Dubai for his youngest son. The time and acquisition price coincided with the deal closed by McKay. As of November 2022, Ambani was the second richest man in India and Asia and the eighth richest in the world.

Villa with Bowling Alley and Garage for 15 Vehicles

The record set by Belleview Real Estate only lasted six months. In early October someone bought the Casa Del Sole villa on Frond G, Palm Jumeirah for AED 302,000,000 (USD 82,200,000). Alpago Properties built the costliest house in Dubai and B1 Properties, the developer’s exclusive distributor, sold it. The head of Alpago Properties describes the philosophy underpinning their projects as follows: “High ceilings, less frames and columns.”

The four-level villa covers an area of 2,600 square metres, boasts eight bedrooms, an underground parking that can fit up to 15 vehicles and a range of facilities that you would  normally find in a town and not in a home: a cinema, bowling alley, a gym with sauna and hammam, a hot tub and an infinity pool. When it was purchased, the villa was still under construction with completion scheduled for Q1 2023. The name of the owner has not been disclosed.

Images: Alpago Properties

Mysterious Villa on Palm Jumeirah

Less than a month after the Casa Del Sole sensation, breaking news about another unbelievably expensive sale on Palm Jumeirah hit the media. Moreover, the final price of this deal exceeded the two previous records combined. However, we don't have any details about the villa other than its price – USD 163,000,000.

Photo: Google Maps

According to anonymous sources, once again Mukesh Ambani was the new owner of the most expensive house in Dubai. Reportedly, he bought it from the family of Kuwaiti tycoon Mohammed Alshaya of Alshaya Group. The mysterious record-breaking villa is located in close proximity to the first villa from our list which started this series of records in 2022. So it might be the case that Mukesh Ambani just wants to live close to his son. However, this information has not been confirmed officially.

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In a Nutshell

According to analysts, Dubai's luxury real estate market is booming and demand exceeds supply. That is why we keep hearing about the eye-watering prices of such palatial properties. Will someone break the last record set in 2022 any time soon?

Cover photo: Alpago Properties

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