Dubai’s real estate market has reached a new high with the record sale of a villa in the Al Wasl District for AED61.5 million ($16.7 million), setting a new benchmark for luxury properties within the premium development.
The Al Wasl District community is non-gated, providing high security with regular patrols while charging low service fees – an exceptional feature given its prime location.
Homeowners have significant freedom to customize their properties within the reasonable guidelines established by the local authority, DDA, without requiring lengthy approvals or additional fees to the master developer, Dubai Holdings’ Meraas.
Developed by Nordic by fäm Real Estate Development, this sale not only marks the highest price ever fetched in the district but also highlights the unique appeal of the downtown villas of Dubai,” said fäm Group CEO Firas Al Msaddi.
“This remarkable community offers the closest freehold villas to iconic Dubai landmarks such as the Burj Khalifa, Dubai Mall, Jumeirah, Al Wasl Canal, Sheikh Zayed Road, and DIFC, available to buyers of all nationalities,” noted Al Msaddi.
Nordic by fäm’s latest offering, a villa priced at AED76 million, is part of a collection of ultra-luxurious, minimally designed residences aimed at discerning clients.
He said that these properties stand out in a market where comparable luxury homes cost around AED50 million, demonstrating Nordic by fäm’s commitment to providing exceptional value and design.
According to Al Msaddi, Nordic by fäm is capitalizing on a previously identified market gap for minimalist luxury properties through their innovative Nordic initiative.
“Our Scandinavian-inspired designs, which forgo traditional opulent styles, are proving popular, as evidenced by the initial villa’s record-breaking sale,” he added.
