With the record sale of a villa in the Al Wasl District for AED61.5 million ($16.7 million), Dubai’s real estate market has hit a new peak and established a new standard for luxury residences inside the upscale development.

Given its ideal position, the Al Wasl District neighborhood offers inexpensive service fees, high security, and frequent patrols without requiring gates. This is a remarkable characteristic.

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Within the acceptable restrictions set by the local government, the DDA, homeowners enjoy a great deal of latitude to modify their residences without having to wait for lengthy permissions or pay extra to the master developer, Dubai Holdings’ Meraas.

This sale, which was facilitated by Nordic by fäm Real Estate Development, “highlights the distinctive appeal of the downtown villas in Dubai and marks the highest price ever fetched in the district,” stated Firas Al Msaddi, CEO of fäm Group.

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“This exceptional community provides buyers of all nationalities with the closest freehold villas to famous Dubai landmarks like the Burj Khalifa, Dubai Mall, Jumeirah, Al Wasl Canal, Sheikh Zayed Road, and DIFC,” stated Al Msaddi.

The newest property from Nordic by fäm is a villa that is priced at AED 76 million. It is a part of a line of opulent, tastefully constructed homes intended for affluent customers.

According to him, these homes stand out in a market where similar luxury residences fetch about AED 50 million, proving Nordic by fäm’s dedication to offering great value and style.

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Al Msaddi claims that with their creative Nordic project, Nordic by fäm is leveraging a previously recognized market need for minimalist luxury apartments.

“The initial villa’s record-breaking sale is proof that our Scandinavian-inspired designs, which eschew traditional opulent styles, are proving popular,” he continued.