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Dubai-based super-prime luxury property developer 25 Degrees has announced details of a $100mn land deal, securing the firm an exclusive plot of land on Dubai’s Palm Jumeirah.
The 90,000 square foot plot sits on a coveted spot at the tip of a frond and is currently undeveloped – a rarity on the Palm, where the majority of plots have already been built on, and where freehold land is tightly held. The plot went for a total of 365 million dirhams, equivalent to nearly US$100mn.
Co-founded by international investor, entrepreneur and billionaire David von Rosen, 25 Degrees develops best-in-class, super-prime homes marketed to ultra-high-net-worth individuals (UHNWIs). Operating at the top-end of luxury living, 25 Degrees made headlines last year with a $17mn villa sale – the record for a renovated Garden Home on the Palm.
The super-prime developer plans to construct four luxury beach villas on the newly-secured plot, as well as an additional double-sized villa, which is set to be located in an exclusive position at the tip of the frond. This ultra-luxury property will enjoy 120 meters of private beach along with undisturbed, panoramic sea views.
News of this land deal comes shortly after 25 Degrees announced its collaboration with award-winning architectural firm Killa Design, best known for designing Dubai’s Museum of the Future, as the developer strives to meet the demand for luxury properties being driven by the influx of UHNWIs to Dubai.
David von Rosen, co-founder of 25 Degrees, said: “This is an exciting moment for 25 Degrees, and a major strategic milestone as we continue to expand our footprint across the prestigious Palm Jumeirah.
“Securing an undeveloped plot of land on the Palm is already a genuine rarity – let alone a spot at the tip of the frond, surrounded by sea views and open air. This is the height of exclusivity.
“Spanning 90,00-sq-ft, we’re planning to build five new villas on this exclusive plot of land, one of which will be a double-sized beachfront villa. With 120 meters of its own private beach, we’ll be eyeing up the possibility of another record-breaking sale.
“Above all, this plot is a blank canvas. It’s an opportunity for us to carve out our vision for luxury living in Dubai, setting new standards and expectations for UHNWIs settling in the region.”
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