At Dh690m for three Marina plots, Dubai sets new record for residential land sale

Three plots bought by a developer on Dubai Marina for ‘ultra-luxury’ project

Dubai: Into the final stretch of 2022, Dubai’s residential property market is still clocking in record deals, with a 100,000 square feet sea-facing land – spread over 3 plots – in Dubai Marina sold for a whopping Dh690 million ($187.6 million).In the residential space, this is the biggest deal Dubai has seen this year, overtaking the Dh600 million one where Indian billionaire Mukesh Ambani bought a second property on the Palm.

Beachfront plots and properties have been among the most coveted in Dubai this year, fuelling record prices on the Palm Jumeirah and at Jumeira Bay islands. The extension of this buying interest to Dubai Marina shows buyers are extending their search – and finding what they want.