$19m for off-plan villa on Palm Jumeirah

Reports confirm that Dubai’s Palm Jumeirah’s villa has been sold for an eye-watering $19 million (AED70 million), marking a new high for luxury villa prices in the emirate. The custom designed off-plan villa, called M State, has been purchased by an unnamed British businessman of Indian origin, according to the real estate agent handling the sale. Once constructed, M State will be one of five exclusive villas located on the tip of Frond M on the Palm. It has 360-degree views of the sea and a view of Dubai’s skyline to the south.