The 24,500-square-foot empty parcel is on the sought-after Jumeirah Bay Island, a seahorse-shaped piece of land accessible by bridge from the Dubai mainland.
| This isn’t a spectacular mansion. It’s not a luxury penthouse or a designer apartment.
Dubai’s real estate boom reflects high oil prices, a desire by the world’s rich to park wealth in property and a sense that low-tax, low-crime Dubai is a haven in times of pandemic and war., is planning to build a family vacation home on the property. His identity wasn’t disclosed. “Sellers are in quite a strong position at the moment to dictate where the prices are because there are such limited options available for people to choose from, especially beachfront,” says Knight Frank’s Lyndsey Redstone, one of the brokers on the deal.
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