AN international buyer did not seem to mind spending 125 million dirhams for a plot of sand located in the artificial offshore islands of Palm Jumeirah.
It’s not even a house, nor a luxury apartment, but an international buyer did not bat an eyelash purchasing a plot of sand in Dubai’s most expensive neighborhood.
The parcel of land measures about 24,500 square feet or half the size of a football field situated in the popular Jumeirah Bay.
The international buyer plans to build a mansion on the plot.
The buyer’s identity was later revealed as Umar Kamani, founder of PrettyLittleThing, a fast-fashion retail business based in the UK.
The record-breaking deal turned heads since a $34 million real estate deal in Dubai would normally represent a spectacular penthouse or palatial mansion.
Often proclaimed as the Eight Wonder of the World, Palm Jumeirah is so popular among the super-rich.
The Jumeirah Bay Island, where the expensive plot of sand was located, has the shape of a seahorse.
High-end properties in Dubai are sold at very high prices due to a tight supply of real estate in the emirate.
In recent years, the super-rich flocked to Dubai and invested their wealth partly because of the low taxes being offered in the so-called City of Gold.
