This $33 Million Dubai mansion comes with a Ferrari and a Rolls-Royce
July 29, 2020 - Palm Jumeirah
An amenity-laden mansion on the Palm Jumeirah, a palm tree-shaped archipelago in Dubai, is slated to come on the market for $32.67 million.
With three kitchens and three home cinemas, the mansion spans roughly 14,000-square-feet.
Filled with custom Italian furniture from designers like Fendi, Bentley and Minotti, the house also has a spa, a fitness center, a glass tile infinity pool and a rooftop Jacuzzi.
Its amenities include a Champagne vault, a vodka bar and a giant candy wall, according to listing agent Leigh Borg of Gulf Sotheby’s International Realty.
The buyer of the 5-bedroom house will also get a Rolls Royce, a Ferrari and a custom-made Harley-Davidson motorcycle, as well as an unusual art collection that includes a life-size figure from the movie "Transformers" and a chrome crocodile by the sculptor Richard Orlinksi.
"I wanted to blow people’s minds when they visit me," said the owner, Michael Alibhai, who runs a company that designs and manufactures clothes for European fashion brands.
The Palm Jumeirah was built in the Persian Gulf in the 2000s using reclaimed land. Developer Nakheel built high-rise condos and hotels there, but also sold plots of land that could be developed for custom homes.
Mr. Alibhai bought this beach front property in 2011, he said, but wouldn’t disclose how much he paid for it. He spent roughly six years on design, permitting and construction of the house.
He is selling into an uncertain market. Sellers on the Palm have faced headwinds in recent years due to low oil prices, weaker currencies in nearby countries and political turmoil in the Middle East. A glut of high-end housing has also put downward pressure on prices.
A report by local real-estate firm Asteco showed that prices for Dubai villas were down by about 11% year-over-year in the second quarter of 2020.
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