A villa at Emirates Hills in Dubai has been sold for the highest price ever recorded for the locality.
The AED 100 million villa spans across 42,000 square feet and has eight bedrooms.
It came with a full-time team of property management professionals, who run the day to day functions of the house.
Gulf Sotheby’s International Realty and Bellevue recently closed the deal on the property, following 18 months of negotiations.
The agency said buyers are much harder to find due to the nature of such properties and the listed prices.
“We understand the real estate market is cyclical,” said Leigh Williamson, Associate at Gulf Sotheby’s International Realty. “There are buyers in the market who look for properties of this prominence and as luxury real estate experts, it is our responsibility to advise our clients on when to buy and sell, especially when it comes to properties of this significance to make it happen. We know exactly who to look for when a property like this comes onto the market.”