{"id":69975,"date":"2023-05-23T11:23:54","date_gmt":"2023-05-23T07:23:54","guid":{"rendered":"https:\/\/lovin.co\/dubai\/en\/?p=69975"},"modified":"2023-05-23T12:00:09","modified_gmt":"2023-05-23T08:00:09","slug":"umar-kamani-hits-new-record-dubai-land-sale","status":"publish","type":"post","link":"https:\/\/lovin.co\/dubai\/en\/news\/umar-kamani-hits-new-record-dubai-land-sale\/","title":{"rendered":"AED128 Million Sale! Fashion Mogul Umar Kamani Breaks Another Dubai Land Record"},"content":{"rendered":"

Former PrettyLittleThing CEO Umar Kamani has once again made headlines<\/a> by breaking the record for the largest land sale in Dubai. Kamani recently sold a portion of Jumeirah Bay Island for AED128 million (\u00a328.07 million), marking his second record-breaking sale in just a month. This follows his sale of a 30,000 square foot undeveloped plot on the island for over AED123.3 (\u00a327 million) in April.<\/p>\n

In a remarkable turn of events, Kamani purchased the same plot of land just two years ago for a modest AED73.4 million ($20 million), making a profit of approximately AED54.8 million with the recent sale. Combined with his previous land sale, Kamani has generated a total of nearly AED257.16 ($70 million) from these transactions.<\/p>\n

Jumeirah Bay Island, situated off the coast of Dubai, is renowned for its exclusive properties and breathtaking views of the city skyline. The fact that Kamani’s sales have set new records reflects the growing interest from global investors and buyers in this unique landscape.<\/p>\n

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Umar Kamani, who founded PrettyLittleThing in 2012 and sold his remaining stake in 2020, has established himself as a prominent fashion entrepreneur<\/h2>\n

At the age of 35, he acquired the plot of land on Jumeirah Bay Island in 2017 for $8 million (\u00a36.42 million) and recently sold it to an undisclosed buyer for $34 million (\u00a327.28 million).<\/p>\n

Jumeirah Bay Island is part of a man-made archipelago called the “World Islands” project, comprising approximately 300 islands designed in the shape of a world map.<\/p>\n

Dubai has become a popular destination for expats, with an estimated quarter of a million Britons now calling it home. Expats make up 90% of the city-state’s population. Over the past three decades, the region has experienced rapid development, attracting investments from around the world to capitalize on the city’s growth potential.<\/p>\n

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A post shared by Umar Kamani (@umarkamani)<\/a><\/p>\n<\/div>\n<\/blockquote>\n