This luxury villa nestled in the exclusive Emirates Hills gated community has sold for AED 100 million, perhaps signifying that the emirate’s luxury market is on the rise after a recent plateau.

“We understand the real estate market is cyclical,” said Leigh Williamson, an associate at Gulf Sotheby’s International Realty. “There are buyers in the market who look for properties of this prominence.” 

Designed by a French architect, the 8-bedroom family villa is located directly on the golf course with full golf course views. The villa features hand-picked Italian Marble, handcrafted European Maple ceilings, custom-made Murano glass chandeliers and a full Crestron operating system. With 2 working kitchens, the villa has a full team of managers to run the day-to-day maintenance on the property. It also features an 8-car underground garage, private office, cinema, spa, wine cellar, family entertainment area and a beautiful grand dining room, plus a full-wing master bedroom according to co-listers Gulf Sotheby’s International Realty and Belleview Real Estate Brokers.

With the home taking 18 months to sell, the brokerages attributed the significant sale amid slow market conditions to "patience and expertise".

“Sellers need to remain realistic in terms of pricing and timing,” Leigh Williamson said. “Properties like this villa rarely come on the market at the right time. When they do come on the market, sellers must be prepared to work with the agent to price the property at a level that the market will bear and invest the time to find the right buyer.”

In recent second-quarter reports, market analysts said the market has officially bottomed out and forecasted a turnaround, with prices picking up ever so slightly by the end of 2017.

For more information about the property or similar properties for sale contact Gulf Sotheby's International Realty below.

See also:

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