Dubai real estate: 25 Degrees secures $100mn Palm Jumeirah land deal for villa development
The undeveloped plot represents a rare opportunity on Palm Jumeirah, where most land has been built upon and freehold plots are tightly held.
The transaction totalled 365 million dirhams, equivalent to nearly $100 million.
$100mn Palm Jumeirah land deal
25 Degrees, co-founded by international investor and billionaire David von Rosen, specialises in developing properties for ultra-high-net-worth individuals (UHNWIs).
The company achieved recognition last year with a $17 million villa sale, setting a record for a renovated Garden Home on the Palm.
The developer plans to construct four beach villas on the newly acquired plot, alongside a double-sized villa positioned at the tip of the frond. This property will feature 120 metres of private beach and panoramic sea views.
The land acquisition follows 25 Degrees' announcement of its collaboration with Killa Design, the architectural firm behind Dubai's Museum of the Future. The partnership aims to meet demand for properties driven by the influx of UHNWIs to Dubai.
'This is an exciting moment for 25 Degrees, and a major strategic milestone as we continue to expand our footprint across the prestigious Palm Jumeirah. Securing an undeveloped plot of land on the Palm is already a genuine rarity – let alone a spot at the tip of the frond, surrounded by sea views and open air. This is the height of exclusivity. Spanning 90,000-sq-ft, we're planning to build five new villas on this exclusive plot of land, one of which will be a double-sized beachfront villa. With 120 meters of its own private beach, we'll be eyeing up the possibility of another record-breaking sale. Above all, this plot is a blank canvas. It's an opportunity for us to carve out our vision for luxury living in Dubai, setting new standards and expectations for UHNWIs settling in the region,' David von Rosen, co-founder of 25 Degrees said.
The development will comprise five villas in total, with the beachfront property positioned to potentially achieve another record-breaking sale, according to the company.
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