AED70m villa sold to mystery buyer

29.06.2015
The luxury three-storey M. State villa will have a panoramic view of the sea, Dubai Marina and the Palm’s crescent, once completed later this year. It is the biggest sale of the year so far.

A mystery British businessman has paid AED70 million for an off-plan villa on The Palm Jumeirah, according to The National.

The luxury three-storey M. State villa will have a panoramic view of the sea, Dubai Marina and the Palm’s crescent, once completed later this year.

It is the biggest sale of the year so far and is believed to be one of the highest in the emirate.

“The buyer wants to remain anonymous but is obviously a wealthy individual,” said Zishan Khan, director of Terra Casa Real Estate Brokers.

It is one of five limited villas on the Palm and has five bedrooms, seven ensuite bathrooms, plus a private beach, 17-metre infinity pool and a cinema room. The original list price for the 13,058-square-foot villa was AED80 million and the handover date is December this year.

The project is being developed by AA Real Estate Development and features a 51-metre private beachfront, making it one of the largest in the emirate.

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