In a landmark deal that has sent ripples through Dubai’s real estate landscape, AveNew by RH, Pride and Property, and Landsmith Real Estate have successfully concluded a massive land sale transaction in the prestigious Jumeirah Golf Estates, exceeding a staggering Dh300 million.

This substantial transaction, one of the largest in Dubai’s recent history, underscores the surging demand for properties within golf course communities. The driving factors include a scarcity of available stock, sustained interest from both local and international investors, and the UAE’s status as a real estate market that welcomes and encourages investment.

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Jumeirah Golf Estates, renowned as one of the world’s top ten lifestyle estates, boasts over 1,500 interconnected villas, townhouses, and apartments linked to the metro. The community is not only a transit-oriented haven but also plays host to the prestigious DP World Tour Championship (European Tour) final tournament on its opulent golf course.

Nitin Chauhan, the Director of Landsmith Real Estate, shares insights into the project, stating, “Golf course-facing luxury villas are in high demand but limited in Dubai. The unique view of two Fairways on this plot generated significant interest among top developers. Once completed, the project is set to epitomize luxury living within golf course communities.”

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Kunal Singh Sandhu, the owner of Pride and Property, adds, “The luxury-property segment in Dubai is experiencing a notable uptick, indicating a promising future. Our dedicated effort in orchestrating this record-breaking transaction reflects our belief that the best is yet to come for luxury real estate in Dubai.”

Pride and Property, specializing in luxury real estate since its establishment in 2008 under Kunal Singh Sandhu’s guidance, has played a pivotal role in launching and managing projects for reputable developers in Dubai.

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Knight Frank’s 2023 ranking of the world’s leading luxury real estate markets positions Dubai at the forefront, constituting 17% of the global sales in this segment. The Dh300 million land deal at Jumeirah Golf Estates further supports projections of an expanding luxury market in Dubai, accompanied by overall price increases.

This historic transaction not only marks a significant milestone for the involved real estate companies but also reinforces Dubai’s position as a global leader in luxury real estate. As the city continues to attract discerning buyers, this venture sets the stage for an exciting future in Dubai’s upscale property market.