A four-bedroom house in Dubai’s Jumeirah Bay Island has sold for Dh55 million at Dh7,775 per sq. ft. The Bvlgari Mansion sale comes as Jumeirah Bay Island records a 44.3 per cent increase in price per sq. ft – from Dh4,502 in Q1 to Dh6,500 in Q2.

“These types of transactions shows us what the real market inclination is for rare properties. It’s not speculation or hype but true form of end-user appetite for ready, turn-key branded residences,” said George Azar, chairman of Luxhabitat Sotheby’s International Realty. “These exquisite mansions at Bvlgari Resorts & Residences are extremely coveted, but none are currently on the market to satisfy the demand.”

Jumeirah Bay Island, located just offshore between famed World Islands and iconic Downtown Dubai, is home to a number of eye-catching mansions. The island, which is shaped like a seahorse, is one of the most coveted properties in all of Dubai for the rich and famous due to its breathtaking vistas. The connected Bvlgari Resorts & Residences are among the most trendy properties in Dubai right now, with demand considerably outstripping supply. As a result, the properties provide both privacy and exclusivity with views of the Dubai skyline directly from the apartments or villas and close access to the private beach. The Bvlgari Marina has more than 50 spaces and can accommodate boats that are 30 feet to 120 feet in length, making it ideal for boating enthusiasts.