A 59,500 square foot plot and villa in Dubai’s Palm Jumeirah purchased for Dh600 million

According to the most recent weekly data from Dubai Land Department, a plot and built-up elements of the Palm Jumeirah have sold for Dh600 million. Frond N’s plot measures just under 59,600 square feet, confirming the island’s reputation as Dubai’s go-to location for mega-sized transactions.
The next highest priced deal was land sold for Dh206.52 million, also on the Palm. It is believed that the Dh600 million deal includes a villa as well, and on per square foot terms, it comes to more than Dh10,000 a square foot, according to industry sources. “Nowadays, anything that’s transacted on the Palm reaches for the skies in value terms,” said the source. “Palm will keep breaking records for some time.”
Now, the latest deal follows on from the record Palm villa transactions this year of Dh280 million and Dh302.5 million, with the latter having been concluded just weeks ago. More info will be required as to why the latest one went up to Dh600 million, including the actual built-up area over the near 60,000 square feet land.
More so as available unbuilt land on the Palm is becoming scarcer – and these are going for eye-catching values.
Meanwhile, construction has started on the latest super-luxury structure on the Palm, this one across 11 storeys. The developer is Alpago Properties, which has been no stranger to picking up big ticket deals on the island. 
The “Palm Flower,” an 11-story building, was first revealed last year. Foster & Partners, the renowned UK-based firm managed by Norman Foster, is the architect behind the Palm Flower. The agency has worked on projects such as The Gherkin in London, Apple Tower Theatre in Los Angeles, Hong Kong International Airport, and Alif – The Mobility Pavilion at Expo 2020.