Dubai sets another record in property sales: a plot worth USD 16 million was sold on Jumeirah Bay Island
Originally the plot costed USD 9.2 million.
Luxhabitat Sotheby's International Realty announced a few days ago that it has sold a plot of land on Jumeirah Bay Island for nearly double its original price at USD 16 million to a buyer from Russia.
This sale is the second most expensive transaction in Dubai after a transaction of another property in Jumeirah Bay (a new community nestled off the coast between the iconic Downtown Dubai and the famous World Islands) valued at USD 32 million.
According to the company, the waterfront plot LV11 is one of only a few left remaining on Jumeirah Bay Island. Originally it costed USD 9.2 million but its price rose to USD 16 million in six months, 'making it the most expensive plot ever sold of its type'.
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