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Terra Casa sells the most expensive prop. of 2015 (Dubai)

Terra Casa Real Estate sells the current most expensive property of Protected content

A villa on Dubai’s Palm Jumeirah has sold for an eye-watering $19 million (AED70 million), marking a new high for luxury villa prices in the emirate.

The custom designed off-plan villa, called M State, has been purchased by an unnamed British businessman of Indian origin, according to the real estate agent handling the sale.

Once constructed, M State will be one of five exclusive villas located on the tip of Frond M on the Palm. It has Protected content views of the sea and a view of Dubai’s skyline to the south.

There are six bedrooms, seven bathrooms (one of which is en suite), a 17-metre-long infinity swimming pool, 51-metre private beach and dedicated cinema room.

The villa comprises 13,058 square ft occupying a 11,862 sq ft plot, and is scheduled for handover by December, as ‘shell and core’ as requested by the buyer.

The architects on the project are LW Design Group on behalf of developer AA Real Estate & Development, and the finishing and interior design is being delivered by UAE-based furniture design practice Finasi.

The property was sold below its market price of $21 million (AED80 million).