Villa sold on Dubai's Palm Jumeirah for over $30m
The most expensive villa to be sold on Dubai’s Palm Jumeirah, per square foot, has gone for the princely sum of over $30 million.
The buyers, a Swiss family living in Monaco, have snapped up the stunning property, which was placed on the market n August last year with a $32.7m price tag.
The 13,500 square foot property, named ONE100 Palm, which is situated at the top of frond N on the Palm, includes a wellness spa, start-of-the-art fitness centre, massive assorted candy wall, hydraulic pop-up cinema and three gourmet kitchens.
The stunning villa ONE100 The Palm, includes an oversized VIP suite with a total area of 1,300 sqft and four more oversized VIP suites, two maids and driver quarters with an option to extend, and eight luxury bathrooms.
Michael Adam Alibhai, who sold the magnificent property, told Arabian Business: “If you look at the villa you see it contains every piece of luxury you could ever want.”
The property even comes with a Ferrari 599 GTO and Rolls Royce Wraith in the luxury garage with a custom wall-to-wall LED screen as well as a fully customized Ultra Glide Harley Davidson from the USA installed inside the living space.
“I’m a perfectionist. I put my heart and soul into it. I spent all my own time, going there every morning and afternoon after being in my office, to check the status and to ensure that we achieved the quality. It’s spotless. No-one can come to the house and complain about one single thing,” he added.
Alibhai, who took his inspiration for the villa from studying design, architecture and innovation during trips to California, admitted that striving to sell a property during the middle of a global pandemic made the process “probably a little harder”, but revealed that the “market has just boomed” on the Palm since the beginning of the year, with strong interest from people from Israel and across Europe.
He said: “From January onwards, I came back after Christmas and new year in Sweden, I would say that 80 percent of views were genuine, with high profile clients.
“Lately we have seen a huge influx of people from Israel, we have seen a lot of Europeans and besides the people who just want to see the villa, which we have had such viewings, we have seen genuine buyer interest from people coming with valid bank statements, reference letters and proof of funds.”
The Swedish national, who owns fashion manufacturing company Connection Design Associates & Exports Ltd, has been in Dubai for more than 20 years. Back in 2017 he achieved the highest price ever paid for a signature villa on the Palm, when the property he had renovated was sold for $18.2m.
Alibhai said he had decided to sell the property to return home.
He explained: “It’s my piece of art. I am sad to see it go but on the other hand, I’m happy at the same time because I would want to go back. I think the Covid, it changed my mindset a bit. I had some people who passed away during Covid and it made me think a lot about my life and 20 years away from my family, although I visit them twice-a-year.
“My mother is 72 this year, my grandmother is turning 93, my brother moved back with my nephews so I’m just thinking, maybe life is too short and family is important to me.”