A landmark phase of development is transforming one of Dubai’s prime residential neighbourhoods, attracting investors with an extraordinary AED7 billion collection of ultra-luxury villas and mansions.
Gaining recognition as the ‘Downtown Villas of Dubai’, this new community taking shape in the Al Wasl District offers both investors and end users the rare commodity of luxurious freehold homes in the heart of the city.
Its focal point is the AED 1 billion Nordic by fam development, a sumptuous assortment of 17 villas and mansions within touching distance of Dubai’s Central Business District, and prime lifestyle landmarks.
“The supply of freehold villas with immediate proximity to downtown, the CBD and Jumeirah Beach is essentially exclusive to the Al Wasl district,” said Firas Al Msaddi, CEO of fam Properties.
“While Dubai boasts over 10,000 waterfront luxury villas, there are only 140 new luxury villas available in Al Wasl, offering unmatched accessibility to the heart of the city within minutes. Nowhere else in the area currently allows foreign ownership of villas.”
“The new phase of development has already attracted significant investment interest, particularly from wealthy Dubai expatriates who know the value of owning land, or a standalone villa, in one of the city’s prime locations.”
The new Wasl District properties feature modern luxury villas and mansions, highlighting designs that emphasize elegance and simplicity. Prices range from AED 40 million to AED 150 million, depending on plot size, built-up area, design, and finishes.
Nordic by fam exemplifies minimalist design with fully furnished villas and mansions embodying a Scandinavian spirit, with prices averaging AED 76 million. The most recent villa was sold for AED 61.5 million.
Villas averaging AED 75 million provide exceptional value, offering a spacious 20,000 square feet of built-up area-double the space of the latest 8,000 square foot penthouses in City Walk, which sold for AED 35 million.
The fact that villa owners also gain ownership of the land, unlike penthouse buyers, makes these villas an even more attractive investment.
Villas boast private cinemas, spas, gym, indoor and outdoor gardens for optimal entertainment and relaxation. High-end finishes include frameless motorized sliding doors, expansive glass panels, and soaring ceilings.
Bespoke design options by Nordic by fam are available for each villa or mansion, with choices for move-in ready, fully furnished homes or under-construction villas, with flexible payment plans.