Dubai’s prime property sector has boomed in the past year, with prices rising more than 41 percent in the past 12 months.
A luxury villa in Dubai’s Emirates Hills has sold for 102.8 million dirhams ($27.9 million), marking it the highest sale so far this year.
The villa was sold by Myles Bush of Phoenix Homes, which said it is the second most expensive sale recorded in Emirates Hills.
The deal follows the recent record set for the most expensive sale of residential property in Dubai.
A villa on Palm Jumeirah was sold by Belleview Real Estate’s Conor McKay for 280 million dirhams ($76 million), eclipsing the previous record held for more than seven years by real estate broker Chris Boswell, who sold a Palm Jumeirah beachfront palace for 185 million dirhams in 2015.