_Knight Frank completes record sale of AED 90 million Lanai Islands mansion in Tilal al Ghaf

Developed by Majid Al Futtaim, this is a record sale for one of the Lanai Island’s mansions and re-affirms the fact that ultra-premium, luxury properties remain the most in demand commodity in the Dubai real estate market amongst local and global buyers, with this particular home being purchased by British buyers.

Commenting on this landmark sale, Andrew Cummings Partner – head of Prime Residential at Knight Frank Middle East said “Lanai Islands is undoubtedly going to be one of the most exclusive communities in Dubai and is the first development that has delivered a true turnkey luxury mansion product that benefits from world class architecture and interiors. It is also another reminder that the prime market in Dubai is now expanding beyond the traditional areas such as Emirates Hills and Palm Jumeirah, with Tilal al Ghaf set to be one of the most desirable communities in Dubai on completion.”

Once completed in 2026, Lanai Island will be the first of two private islands to be released in Tilal Al Ghaf by Majid Al Futtaim, and will include new 7 and  8-bedroom ultra-luxury mansions designed in collaboration with SAOTA, a world-known South African architecture studio, and Kelly Hoppen, an award-winning interior designer. The island consists of just 13 luxury mansions, made up of 9 Shore mansions and then 4 prestigious Edge Mansions - all of them sitting on a private island in the middle of a 1.2km crystal lagoon.

This remarkable AED 90 million mansion (USD $ 24 million) has an impressive plot size of 25,870 sq.ft and a BUA of 30,742 sq.ft. Cummings went on “the buyers took the opportunity to customise the mansion, creating a huge master suite that is over 2,000 sq ft and opting for the exterior guest house to be converted into an executive office”. All of this is on top of spacious en suite bedrooms, three swimming pools, including a triple height waterfall, home spa, gym and relaxing decking that sits out on the crystal lagoon.

Knight Frank recently reported that Prime residential prices in Dubai, which encompass the neighbourhoods of The Palm Jumeirah, Emirates Hills and Jumeirah Bay Island, are set to experience the strongest price growth globally, detailing how Dubai’s prime residential market has and continues to be a global outlier, with record price growth in 2022. Prime property values are being fuelled by Dubai’s safe-haven status, an exceptionally diverse range of international ultra-high-net-worth individuals in search of luxury second homes, combined of course with the government’s world-leading response to the pandemic, which has spurred business investor confidence.

For more information and details, please contact Andrew Cummings.