Renting a luxury villa in “Al Barari” for 14 million dirhams for two years

FAM Real Estate Company announced a deal it described as historic to rent a luxury villa in the Al Barari area of ​​Dubai, at a record price of 14 million dirhams for two years, marking the highest rental deal ever in one of the most prestigious residential complexes in the emirate.

The company stated in a statement that it had concluded this historic deal for a villa with an area of ​​14,500 square feet, including five bedrooms, within the “The Collection” project in Al Barari, noting that the villa was originally purchased for 54 million dirhams, and is currently generating a rental return of 12.8%.

FAM Real Estate explained that, at a value of 7 million dirhams annually, this rental value exceeds the previous record for rents in Al Barari, amounting to 4.8 million dirhams annually, by 46%, as confirmed by data from the “DXB Interact” platform.

Firas Al-Masadi, CEO of FAM Real Estate, said: “This deal reflects the continued strong demand for luxury real estate in Dubai, especially for residences designed with great care and that meet the needs of an upscale lifestyle, where quality and privacy exceed traditional market standards.”

He added: “This deal confirms the strength and flexibility of the market, and Dubai’s position as one of the leading global destinations for wealthy individuals who wish to make it their home.”

According to FAM Properties, the villa is located on a plot of land of 16,000 square feet, and is characterized by a design that focuses on privacy, comfort and luxury, while providing a luxurious, resort-like lifestyle.

The villa also includes formal and informal open plan living spaces, a private office with a direct elevator, a landscaped garden with a pond, a fully equipped gym overlooking the pool, and a suite dedicated to rest and wellness.

According to FAM Properties, the tenant, a wealthy Brazilian businessman, was looking for a unique living environment.

She stated that at the time of the research, the properties available for rent in Al Barari, including properties whose value exceeds three million dirhams annually, did not meet the tenant’s requirements in terms of architectural design, privacy, and design that takes into account health and well-being. As a result, the search shifted from traditional rental listings to luxury villas that were for sale in the range of 100 million dirhams, as the required specifications were more easily available.

FAM Real Estate confirmed that unannounced negotiations were held over a period of two months with a number of owners, to explore long-term rental options for homes that were not originally intended for rent.