PH Real Estate, one of Dubai’s oldest and most trusted real estate agencies, has bucked recent property trends with a record-breaking AED1.4 million annual rental deal for a luxurious property on The Palm Jumeirah.
In a deal that will surely be noted in global record books, the tenant, A French citizen and UAE resident who wishes to remain anonymous, has taken on a unique, brand new six-bedroomed frond villa.
Already known for hosting some of the world’s most desirable real estate, The Palm Jumeirah frond villa wasn’t even completely constructed before it was rented out to the eager UAE resident tenant.
The villa, rented on a three-year fixed-term contract, is described as an ultra-contemporary, custom-built and designed property.
PH Real Estate Managing Director Nick Grassick says: “The property owner and the tenant are both delighted, as are we, to be involved in what was a smooth, efficient and pandemic-friendly deal. Our clients – owners, buyers, and tenants – are always happy to deal with us, given our longevity in the market and the market trust we have generated.
“This unique property has outstanding views – being situated at the end of a ‘frond’ on the Palm – and includes its own beach, splash pool and a host of other features you’d expect from one of the world’s most expensive rentals. The discerning tenant had some very clear desires – not least of which was the appeal of living on this globally-renowned man-made island – which is conveniently close to the client’s place of work.
“Although this year, the rental trend is downwards, certain areas of Dubai – the most prestigious locations – are now seeing rent and sale prices stabilise, and this record deal underlines that the shoots of recovery are not only there, but blossoming,” adds the MD.
While PH Real Estate’s experienced team specializes in upmarket and rare properties, this incredible rental deal was handled by Executive Sales Consultant Lyndsey Redstone.
“After a tough year for everyone, it’s gratifying to see such a phenomenal property achieve its rental worth so quickly. It’s moments like this that are not only career defining for me, but also unforgettable. My years of experience in understanding the market, the trends, and bringing together owners and tenants have really come to the fore in this market-changing agreement,” says Redstone.
PH Real Estate Brokers has built its sterling reputation on the back of offering unmatched investment opportunities and unrivaled family homes providing incredible lifestyle experiences.
