A joint land transaction was recently completed between real estate firms based in the UAE, which include Landsmith Real Estate, Pride and Property and AveNew by RH.
The transaction was for the coveted Jumeirah Golf Estates in Dubai and it is the biggest one of its kind, valued at a staggering AED 300 million.
One of the ten most lifestyle and luxury estates in the world, Jumeirah Golf Estates comprises of more than 1,500 townhouses, villas and apartments.
The transaction relates to the land that offers an expansive view of the Fairways. The luxury golf community landscapes surround it.
As a matter of fact, it is a prominent name in the annual golf calendar because 14 editions of the finals of the DP World Tour Championship have been hosted there.
AveNew was founded in 2021 and has managed to establish a strong presence in the real estate market in Dubai in a short period of time.
It specializes in assisting property buyers and investors in securing great deals all over the emirate. Meanwhile, Landsmith Real Estate is a homegrown real estate company that has become well-established.
As a matter of fact, it is one of the pioneers in Dubai’s luxury property sector and prime residential locations are its specialty, along with large commercial projects and deals.
Another prominent entity in the real estate sector is Pride and Property and its expertise lies in selling luxury ready-to-move-in and off-plan properties on the waterfront and other major Dubai locations.
The three companies put together their expertise to make the land deal happen. Landsmith Real Estate’s director, Nitin Chauhan, shared insights into unique attraction of luxury villas that face the golf course in Dubai.
He said that once the project takes its final form, it will become the standard of luxury living within the golf course community.
Chauhan added that even though they were quite popular, luxury villas facing golf courses are a rarity in Dubai.
He said that the dynamic demand had become quite obvious and the strategic location of the plot, since it offers views of two Fairways, was certainly going to attract interest of top developers.
Nitin specializes in luxury plots, villas and apartments in prominent locations. His presence in the real estate scene in Dubai has been major since freehold properties were introduced.
In addition, he has also invested in multiple properties and projects. He stated that the land sale was a clear sign that the real estate sector in Dubai is geared for sustained growth.
He went on to say that property prices would continue with the upward trend and the sales confirmed that Dubai was indeed one of the top luxury real estate markets globally in 2023.
Pride and Property’s owner, Kunal Singh Sandhu, said that they had put in considerable time and effort to make the record-breaking transaction happen.
He added that Dubai had seen a major rise in the number of luxury property buyers and they thought it was just the beginning for a promising segment, as the luxury property market would see more growth.