Majid Al Futtaim sets a new record for its flagship project, Tilal Al Ghaf, by selling Villa Mansion in Lanai Island for AED 90.1 million

United Arab Emirates, Dubai: Majid Al Futtaim Integrated Cities Projects, a subsidiary of Majid Al Futtaim Properties, has announced a new achievement in addition to its groundbreaking achievements, which is the sale of an ultra-luxury mansion villa for AED 90.1 million in Lanai Island in its luxury project, Tilal Al Ghaf, which is designed on products model. The deal, which involved leading independent property consultancy Knight Frank as real estate broker, is the largest transaction by value for a single home in this iconic Dubai destination.

The villa, which is one of four extra-large Edge villas on Lani Island, was designed by award-winning South African architecture firm, SAOTA, while the high-class interiors were designed by multi-awarded international interior design expert Kelly Hoppin… This villa , reflecting the ultimate luxury lifestyle, is set on a large plot of land, with extensive landscaped gardens extending to the waterfront, covering a grand total area of ​​over 30,000 square feet.

The ultra-luxurious eight-bedroom villa Edge features several unique elements, including a floating living room that overlooks the water, a deck that offers panoramic views of the lagoon, and a courtyard that brings in natural indoor lighting and a strong visual aesthetic with lush greenery. vegetation in the area The heart of the house.

Other attractive features of this villa are the double height living and dining rooms, fully equipped modern kitchen, home theatre, spa and home gym, swimming pool and hot tub. The villa also features an underground garage with full glass windows for 12 cars, a service area with separate entrance, two rear kitchens and separate staff quarters for up to 12 staff.

The villa also includes a suite overlooking the garden, which the owner can adapt to suit his lifestyle, such as turning it into an office, guest house, private lounge or fitness centre.

The villa is located on a secluded private island amidst the crystal waters of the Al Ghaf Lagoon, covering an area of ​​150,000 square meters in the heart of the prestigious Tilal Al Ghaf project. The recent announcement of the launch of the 13 villa mansion on Lanai Island has attracted great interest from investors and buyers, especially the ultra high net worth individuals (UHNWIs), who represent an exclusive global community that has grown by 9% in the past . year. With the availability of ultra-luxury homes in Dubai lagging behind the rate of increase in demand, the sector is facing a significant shortage, and Lanai Island will go a long way in bridging the gap between supply and demand in the market for to bridge such ultra. -luxury properties.

Dubai’s property market is now performing at its highest level in 12 years, on the back of an influx of foreign investors attracted by the emirate’s booming reputation as a safe haven. The latest data released by the Dubai Land Department indicates that 88,029 transactions have been carried out so far in 2022, with a total sales value of AED 239.64 billion, almost double the value of sales recorded in 2021, which was AED 151.07 billion.

In its latest report, Knight Frank forecasts, which named Dubai as one of the most important cities in the world, indicate that residential property prices in the emirate will show the strongest global growth in 2023. The report expects luxury property prices to increase overall by an average of 2% in 25 global cities, up from 5.2% in 2022. However, expectations for price growth in Dubai of more than 10% reflect a very positive outlook for this sector in the emirate .

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About Tilal Al Ghaf

Tilal Al Ghaf is the first integrated mixed-use destination developed by Majid Al Futtaim in Dubai, offering a unique and ideal residential experience. “Tilal Al Ghaf” is located in the heart of New Dubai, with a picturesque lake with a sandy beach in its center, to achieve an incredible balance between luxury and modern urban character, with what it contains of exceptional amenities and attention to the smallest. details Each home in “Tilal Al Ghaf” is built to achieve customer happiness.

As part of Majid Al Futtaim’s commitment to sustainable designs and residences, the residential complex features upscale, walkable neighborhoods connected by walking and cycling paths, landscaped open spaces and public parks. The project also includes a group of shops and restaurants selected by “Majid Al Futtaim” and an international school, all located a few steps from the homes of the residents of the complex.

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About Majid Al Futtaim

Established in 1992, Majid Al Futtaim is the leading developer and manager of shopping centres, integrated cities, retail and leisure facilities in the Middle East, Africa and Asia.

The success story of “Majid Al Futtaim” is full of many achievements, which came as a result of a vision established by Mr. Majid Al Futtaim, who dreamed of changing the concept of shopping and entertainment to “achieve the happiest moments for all people”, every day.” The characteristics of that vision began to be embodied by many modern and innovative malls, which first opened in the United Arab Emirates, then expanded to 17 markets around the world and employs more than 43 thousand employees.The group was awarded the highest investment grade (BBB) ​​for private institutions in the Middle East.

Today, Majid Al Futtaim owns and operates 28 shopping malls, 13 hotels, four integrated city projects, in addition to many projects under construction. Majid Al Futtaim’s shopping centers include Mall of the Emirates, Mall of Egypt, City Centers and My City Centers, in addition to five shopping complexes in partnership with the Government of Sharjah. The company also has the exclusive use of the “Carrefour” name in more than 30 markets in the Middle East, Africa and Asia. Majid Al Futtaim operates more than 400 stores, in addition to the online store.

Majid Al Futtaim also operates more than 600 cinema screens in its “VOX Cinemas” halls, in addition to world-class family entertainment centers including “Magic Planet”, “Ski Dubai”, “iFly Dubai”, “Dreamscape” and “Ski”. Egypt”, and others. Majid Al Futtaim is the parent company of fashion, retail, home furnishings and interiors and manages the most prominent names and brands in the world of fashion and home such as Abercrombie & Fitch, Hollister, All Saints, Lululemon Athletica and Crate & Barrel , LEGO, and that online fashion store and app Majid Al Futtaim also operates facilities management company Enova through a joint venture with Veolia, a global leader in environmental resource management.

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