Land-sale deal of over AED 300 million in Dubai’s Jumeirah Golf Estates reaffirms growing popularity of golf course communities

Land-sale deal of over AED 300 million in Dubai’s Jumeirah Golf Estates reaffirms growing popularity of golf course communities

Jumeirah Golf Estates, which has seen an influx of buyer interest lately, was the site of one of the biggest transactions in Dubai’s golf course communities – a land deal worth a record AED 300+ million – secured jointly by AveNew by RH, Landsmith Real Estate and Pride and Property

November 20th, Dubai: UAE-based real estate firms AveNew by RH, Pride and Property and Landsmith Real Estate have announced the completion of a joint land transaction worth over AED 300 million – one of the biggest transactions of its kind – in Dubai’s coveted Jumeirah Golf Estates.

Established in 2021, AveNew has created a strong presence in the Dubai Real Estate Market in a short span of time, specializing in helping investors and property buyers secure incredible deals across the Emirate owing to their extensive knowledge of the Dubai Real Estate market and a strong network of agents & consultants. Landsmith Real Estate, a well-established homegrown boutique real estate firm, and among the pioneers in the luxury property segment in Dubai, specializes in prime residential locations as well as structuring deals and large commercial projects. Pride and Property, another formidable entity in the real estate realm, has immense experience in selling luxury off-plan and ready-to-move-in properties on the beachfront and other prominent locations in Dubai. The trio combined their expertise to secure the land deal of over Aed 300 million.

Jumeirah Golf Estates is among the world’s ten foremost luxury and lifestyle estates and houses over 1,500 villas, townhouses, and apartments. The transacted land that is part of this deal overlooks an expansive view of the Fairways. It is surrounded by the landscapes of a luxury golf course community which is a renowned name in the annual golf calendar and has hosted 14 editions of the acclaimed DP World Tour Championship’s (European Tour) finals.

Nitin Chauhan, Director of Landsmith Real Estate, expressed his insights into the unique appeal of golf course-facing luxury villas in Dubai. “The final form of this project will be the epitome of luxury living in golf course communities. Golf course-facing luxury villas are popular but rare in this region. With that demand dynamic becoming apparent and the location of this plot, which overlooks unique views of two Fairways, there was bound to be interest from top developers”. Popular for his customer-first approach in the real estate market, Nitin is a specialist in luxury villas, plots and apartments in prime locations. He has had a presence in Dubai’s real estate scene since the inception of freehold properties and is an investor in multiple projects and properties.

This land sale serves as a clear indicator that Dubai’s luxury real estate sector is poised for sustained growth and an upward trend in property prices. The sale is also a testament to Knight Frank’s list of the world’s top luxury real estate markets in2023, which placed Dubai at the top – accounting for 17% of global sales in the segment.

Kunal Singh Sandhu, owner of Pride and Property, feels the landmark sale represents the growing allure of luxury real estate in Dubai. “Pride and Property and partners invested significant time and effort into this record-breaking transaction. There has been a significant increase in buyers for luxury properties in Dubai and we think this is just the start for a promising segment.  The best is yet to come for the luxury property market in Dubai.” Kunal has been in real estate since 2007 and has carved a successful path in the luxury real estate niche. Under Kunal’s leadership, they have made luxury real estate their forte and helped launch and manage projects for reputable developers in Dubai

The completion of this deal in Dubai is an indicator of the escalating demand for golf course communities due to several key factors. Foremost among these is the limited supply of such exclusive properties. The scarcity of available golf course real estate contributes significantly to the premium placed on these sought-after developments by discerning buyers. It also underscores the global recognition of Dubai’s real estate market as a lucrative and stable investment destination for local and global buyers, and is another hat-tip to the UAE’s exemplary track record as an investment-friendly real estate market.

About AveNew by RH 

Established in 2021, AveNew has created a strong presence in the Dubai Real Estate Market in a short span of time. Through a vast network of real estate agents & consultants and a wide range of result-oriented, consumer-centric services, AveNew has helped investors and property buyers secure incredible deals across the Emirate. AveNew holds extensive knowledge of the Dubai Real Estate industry and can locate the appropriate site to build the best possible product for consumers and assist them in marketing and selling their products.

About Pride and Property

Pride and Property stands as a formidable presence in the real estate realm, renowned as a distinguished industry brand. Operating across the United Arab Emirates market on a global scale, its foundation rests on unwavering integrity and transparency. Pride and Property fosters trust through a resolute commitment to turning promises into tangible results, solidifying its position as a revered leader and earning widespread respect in the real estate arena. It has immense experience in selling luxury off-plan and ready-to-move-in properties on the beachfront and other prominent locations in Dubai.

About Landsmith Real Estate

Landsmith Real Estate is a homegrown boutique real estate firm providing an unparalleled experience in real estate transactions for its most discerning clients from around the world. Landsmith prides itself for its team of highly knowledgeable and customer-centric industry leaders with vast experience through the growth of Dubai’s property market. The Landsmith team are among the pioneers of the luxury property segment in Dubai, specializing in prime residential locations as well as structuring deals and large commercial projects. The team’s commitment, success and integrity are extremely noteworthy in the interests of prospective clients.