25 Degrees, a property developer based in Dubai, has announced the sale of a villa on Palm Jumeirah for $17M (AED 62M), setting a new record for a renovated Garden Home on the artificial island.
The 5,800-square-foot private beach villa, which was completed in January 2024, was sold in collaboration with Sotheby’s International Realty.
This transaction underscores the increasing demand for high-end properties in Dubai’s luxury real estate sector.
“The Dubai residential property market continues to thrive – and at 25 Degrees, we are capitalising on this momentum. With markets as buoyant as Dubai’s super-prime property sector, there is fierce competition among developers, but this latest sale highlights that superior construction quality and craftsmanship set you apart,” commented David von Rosen, co-founder of 25 Degrees.
Specialising in European-style luxury villas, the company targets ultra-high-net-worth individuals (UHNWIs).
25 Degrees aims to sell 100 homes in the region by 2030 and is presently developing larger Signature villas on Palm Jumeirah, according to von Rosen.
“Dubai is increasingly the preferred location for UHNWIs worldwide. The city’s diverse lifestyle offerings mean it is no longer solely a business destination – international financiers and entrepreneurs now wish to establish long-term roots here with their families, drawn by the premium shopping, world-class art market, and vibrant dining and nightlife scene,” he added.
The emirate’s luxury property market has experienced substantial growth, with Knight Frank reporting 431 sales above $10M in 2023. Palm Jumeirah alone recorded 21 transactions exceeding $10M, amounting to $365M.
The influx of affluent individuals to Dubai, attracted by business prospects and lifestyle amenities, is propelling this market expansion.
