A Megamansion in Dubai’s Swanky Emirates Hills Community Sells for $40.2 Million - Kanebridge News
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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

By LIZ LUCKING
Tue, Apr 9, 2024 8:49amGrey Clock 2 min

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.”

DUBAI SIR

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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The four-storey, lemon-hued villa boasts more than 16,000 square feet of living space and historic character and charm by the bucket load

By LIZ LUCKING
Wed, May 29, 2024 2 min

A 14th-century villa in the hills overlooking Florence, Italy, has hit the market for €12 million (US$13 million).

Surrounded by cypress trees, vineyards and olive groves, the quintessential Tuscan home was built for the Davanzati family—who were powerful bankers, merchants and patrons during the Italian Renaissance who have a museum named after them in the heart of the city. The villa was one of the family’s multiple country retreats, according to Lionard Luxury Real Estate, which brought the home to the market earlier this month.

Courtesy of Lionard

The four-storey, lemon-hued villa boasts more than 16,000 square feet of living space and historic character and charm by the bucket load.

The ballroom has a giant skylight.
Courtesy of Lionard

On the ground floor there are ​​a number of reception rooms and open-air living areas, with many of them boasting antique paintings, tapestries and stately fireplaces made of marble or carved stone.

The most “magnificent” room, according to Lionard, is the winter garden hall, a ballroom with stuccos, loggias and towering vaulted ceilings, illuminated by an Art Nouveau skylight.

On the first floor are multiple double bedrooms and an antique library, and the second floor, while in need of renovation, offers the possibility of creating up to 12 en-suite bedrooms. The villa’s tower has a “delightful sitting room and a rooftop terrace offering a breathtaking view of the city of Florence,” the listing said.

The villa has ivy-covered loggias.
Courtesy of Lionard

The basement, meanwhile, has a cellar with brick vaults that are perfect for wine lovers. An elevator runs between the levels.

Outside, the grounds have well-kept gardens, rolling lawns, a fountain, ancient wells and ivy-covered loggias.

Mansion Global couldn’t determine who is selling the villa, or when they acquired it.

The property is “an oasis of peace,” the listing said, and “one of the most exclusive historical estates on the hills that surround the city of Florence.”