Is the Dubai Water Canal going to be the next “billionaires’ row” in the city?

Are billionaire investors searching for pricey properties going to the Dubai Water Canal as their next stop? It would seem so given the purchase of two duplex penthouses by a private family office acting on behalf of a “European billionaire.” These apartments are a part of Mr.C Residences Jumeirah, where a single deal may fetch over Dh120 million (about a million). This shows how in-demand luxury investment properties will remain in Dubai until 2023. The deal was handled by Everose Properties, which was represented by Karl Shehfe and Gregory Mathieu. The buyer’s identity was kept a secret. The deal is still pending, but market opinion indicates that in the coming weeks, more than 100 million dirhams would be more interesting.

The super-premium market had record sales last year, with the most costly property acquisitions reaching AED 300 million. Additionally, there were real estate deals worth more than Dh600 million. Project managers Maggio and Ignazio Cipriani of Mr.C, a premium hotel and home brand, worked with Alta Real Estate to create the 27 unique units that makeup Mr.C Residences. Abdullah Al Tayer is the leader of the latter. According to the statement, “Dubai Water Canal becomes a new conflict of billionaires with Mr. C Residences Jumeirah bringing in a wave of European investors for the first time.” “As the project gets closer to being sold, we are grateful for the support we have received from the local and worldwide communities. Ignatius says.

Disclaimer: The views expressed above are for informational purposes only based on industry reports and related news stories. PropertyPistol does not guarantee the accuracy, completeness, or reliability of the information and shall not be held responsible for any action taken based on the published information.