A Megamansion in Dubai’s Swanky Emirates Hills Community Sells for $40.2 Million
The 19-bedroom villa is the latest big-ticket deal amid the city’s luxury real estate boom
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In the latest example of Dubai’s thriving luxury real estate market, a 19-bedroom megamansion in the city’s prestigious gated golf community of Emirates Hills has sold for US$40.2 million.
The villa, which sits on the largest lot in the posh enclave, changed hands last week, and the sale was handled by Leigh Borg and Timothy Ogunniyi of Dubai Sotheby’s International Realty.
“To own the largest land plot in Emirates Hills along with one of the biggest homes in the community makes this property stand out,” Ogunniyi said. “To find a property that gives you 80,000 square feet of land and 55,700 square feet of living space is rare in Dubai.”
Other large plots in the community are “not quite as massive,” he added. It’s “very seldom these plots come into the market in Emirates Hills. No doubt, this presented a great appeal to the buyer and an opportunity to capitalise on its value.”
The home has a classic feel, with an exterior that “combines timeless architectural elements with the use of natural materials, all of which are reflected in the roof shape, window style and classic columns,” Ogunniyi said.
It also has far-reaching views of the Dubai skyline and the surrounding golf course.
“With the market in Dubai appreciating, it is fair to say that this was a very good deal to come by, both for buyer and seller,” Ogunniyi said, without disclosing the identities of the parties. The seller had owned the villa for the past 15 years and lived in the property when in town, he added. Mansion Global couldn’t identify either party.
Dubai’s luxury home market has been on a tear, complete with sky-high prices that grew 17.4% last year , and record-breaking transactions.
“This year, we have witnessed a significant evolution in the luxury real estate landscape, characterised by the introduction of new iconic developments and a sustained influx of wealthy investors, many of whom boast billionaire status,” said George Azar, CEO and chairman of Dubai Sotheby’s International Realty.
“While there exists a substantial demand for super prime homes, it’s crucial to note that the market currently lacks a sufficient number of uber-luxury projects and finishes that resonate with the discerning tastes of global billionaires,” he added. That gap “underscores the resilience and strength of this segment within our market.”
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$30 Million Nashville-Area Estate Quietly Looks for a Buyer.
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A 120-acre property 35 miles outside of Nashville, Tennessee, is selling off market for $30 million, making it the second-most-expensive home for sale in the state.
Located in Franklin, about 20 minutes from downtown, Cortina Farms is both a private residence and an event venue, which charges up to $56,000 to rent for the day, according to Compass, which is marketing the pocket listing. Erin Krueger holds the listing.
The only residence on the open market with a higher price in Tennessee is another Franklin property, which spans 749 acres and is asking $37.5 million.
Cortina Farms takes design inspiration from the Italian countryside, with stonework heavily featured around the verdant grounds.
The main house, with a stone exterior and a shingled roof, has approximately 2,500 square feet of living space, with three bedrooms and two bathrooms. Outside, there’s a covered back porch, an outdoor grill, a pool and a hot tub. There are also two guest apartments off the main house, each with a bedroom and a full bathroom.
In addition to its event business opportunities, the property is also designed for an equestrian, with two barns featuring a total of 12 stalls. Near the stables are four large fenced pastures that equal about 10 acres.
Other amenities include a wellness center, a party barn with a catering kitchen, an amphitheater, two lakes stocked with bass and catfish, and a helipad. Scenic trails for walking, running or ATV riding meander throughout the property past creeks, mature trees and waterfalls, according to information provided by Compass.
The property last traded hands in 2021 for $9 million, records on PropertyShark show. The owners weren’t available for comment.
The Nashville metro area has become a luxury real estate hot spot over the past few years, largely attracting people from Los Angeles as well as other out-of-state buyers looking for properties with a large amount of acreage.
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