Dubai, home to the highest number of billionaires in the region, continues to attract A-list celebrities. The latest to join is rumoured to be football sensation Cristiano Ronaldo.
The Al Nassr club superstar has reportedly bought a property on the Jumeirah Bay Island, also known as ‘Billionaires Island’.
However, there is no official confirmation from Ronaldo’s representatives regarding the purchase, with one publication saying they denied that it was made at all.
If the rumour of Ronaldo moving to Jumeirah Bay turns out to be true, this will definitely give a major impetus to the ultra-luxury property market in the emirate, especially on the Island.
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Developed by Meraas, the 6-million sqft of mixed-use land has attracted high-net-worth individuals seeking a lavish lifestyle. It, along with Palm Jumeirah’s popular ‘Billionaire Row’, is emerging as a high-profile place for the who’s who of the billionaire community.
‘Highly exclusive’
“Jumeirah Bay Island is highly exclusive. On each frond of Palm Jumeirah, there are, on average, 120 villas, and there are around 16 fronds. But in Jumeirah Bay Island, there are only 124 sea-facing villas on the entire Island. [It] is 60 times more exclusive,” says Farooq Syed, CEO of Springfield Properties. “The whole idea about the Island is to have infinite views of the sea.”
Due to its exclusivity, Jumeirah Bay Island prices are quite high when compared to other island developments.
“Villas there on the Island are priced at Dh200-300 million and above,” Syed told Khaleej Times in an interview on Wednesday, adding that this justifies the ‘Billionaire Island’ title.
Property industry executives say that the island is “only accessible by the ultra-wealthy”. The price of a single plot on Jumeirah Bay Island can fetch you a modern and luxury penthouse in other high-end neighbourhoods in Dubai.
Ultra-luxury projects
In addition to housing super-premium The Bulgari Resort, construction is underway on the 27-storey Bulgari Lighthouse, an ultra-luxury project which has four and five-bedroom penthouses. The seven-bedroom Sky Villa crowns the top three levels of Bulgari Lighthouse, and is surrounded by expansive private rooftop gardens, outdoor living spaces, two private pools, and stylish lounge areas on either side of the building.
Syed said amenities in the villas on Jumeirah Bay are “crazy”, and features such as saunas, spas, and gyms are basics there. “Most of the villas have a basement and I heard [that someone is building] a bowling alley in the basement in one of the properties,” he added.
In February 2023, a penthouse in the Lighthouse was sold for Dh410 million, becoming the most expensive apartment to be sold ever in Dubai at that time.
In April 2023, the British multimillionaire Umar Kamani sold an undeveloped plot on the Island for a whopping Dh124 million to a royal family.