Leading UAE developer Arada has achieved a key milestone with the sale of a five-bedroom residence at Armani Beach Residences at Palm Jumeirah for AED92.5 million ($25 million) to Francis Ngannou, the Cameroonian former UFC heavyweight champion and professional boxer.
The property, which spans 11,521 sq ft and features a private pool, underscores continued investor appetite for branded luxury residences in Dubai, particularly in prime waterfront locations such as Palm Jumeirah, said Arada in a statement.
With a select collection of 57 individually designed homes, Armani Beach Residences at Palm Jumeirah is designed by Japanese Pritzker Prize-winning architect Tadao Ando and in partnership with Armani Group and Casa Interior Design Studio, it stated.
It offers panoramic views of the Arabian Gulf and Dubai's skyline, alongside 90,000 square feet of premium amenities, with construction underway and completion targeted for 2027, it added.
Ahmed Alkhoshaibi, Group CEO of Arada, said: "This transaction speaks to the depth of conviction that global buyers have in Dubai's property market — and specifically in what Armani Beach Residences at Palm Jumeirah represents. There is no comparable project anywhere in the world: Tadao Ando's architectural vision, Armani's design legacy, and Palm Jumeirah's unmatched position combine to create something that serious buyers recognise immediately.
"Construction is progressing well and we remain on track for our 2027 completion."
Francis Ngannou said: “When I visited the project and understood the vision behind Armani Beach Residences at Palm Jumeirah, I immediately saw how special it is. Dubai continues to attract people from all over the world because it combines ambition, stability and opportunity. Investing here felt like the right decision, and I believe strongly in the city’s future.”
The buyer was represented by Majida Housni, CEO of the global luxury concierge platform The Ledger Concierge and a luxury real estate advisor operating under eXp Realty, whose international client network includes entrepreneurs, athletes and high-net-worth individuals seeking exceptional properties in key global markets.-TradeArabia News Service