Dubai-based super-prime property developer 25 Degrees has announced details of a $100 m land deal, securing the firm an exclusive plot on Dubai’s Palm Jumeirah.
The 90,000 square foot plot sits at the tip of a frond and is currently undeveloped – a rarity on the Palm, where freehold land is tightly held. The plot went for a total of 365 million dirhams, equivalent to nearly US$100m.
Co-founded by international investor David von Rosen, 25 Degrees describes itself as developing “best-in-class, super-prime homes marketed to ultra-high-net-worth individuals (UHNWIs).”
25 Degrees made headlines last year with a $17m villa sale – the record for a renovated Garden Home on the Palm.
The developer plans to construct four luxury beach villas on the newly-secured plot, as well as an additional double-sized villa at the tip of the frond. This ultra-luxury property will enjoy 120 meters of private beach along with undisturbed, panoramic sea views.
25 Degrees recently announced ia collaboration with architectural firm Killa Design, best known for designing Dubai’s Museum of the Future.
von Rosen says: “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.
“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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