District One Mansion Secures Record AED 21 Million Lease in Dubai
An eight-bedroom waterfront mansion in District One, Mohammed Bin Rashid City, has been leased for a record **AED 21 million** over a three-year contract, brokered by B1 Properties.
Dubai's luxury rental market has witnessed a new benchmark with an eight-bedroom waterfront mansion in District One securing a three-year lease worth AED 21 million. This landmark transaction, facilitated by B1 Properties, highlights the surging demand for ready, high-end properties in prime Dubai locations.
The property, situated in Mohammed Bin Rashid City, features a basement and spans nearly 32,000 square feet directly alongside the Crystal Lagoon. This deal sets a new record for residential leases within District One.
Babak Jafari, CEO of B1 Properties, emphasised that high-net-worth individuals relocating to Dubai are increasingly seeking immediate occupancy in world-class residences, bypassing the longer timelines associated with off-plan developments. He noted a "severe shortage of ready, top-tier secondary properties in prime master communities," which drives such significant rental transactions.
District One maintains its market premium due to its low-density master plan and strategic connectivity. The community is located approximately 10 minutes from Downtown Dubai and Business Bay, offering residents private waterfront living combined with easy access to the city centre, enhanced by its seven-kilometer man-made Crystal Lagoon.
Questions, answered
- What is the value and duration of the record-breaking lease in District One?
- The lease for the eight-bedroom waterfront mansion is valued at **AED 21 million** and covers a **three-year** period.
- Which company brokered this record residential lease deal?
- The landmark residential lease in District One was brokered by **B1 Properties**.
- What are the key features of the leased mansion?
- The mansion is an **eight-bedroom waterfront property with a basement**, spanning nearly **32,000 square feet**, located directly along the Crystal Lagoon in Mohammed Bin Rashid City.
- Why is District One considered a prime location for luxury properties?
- District One is considered prime due to its **low-density master plan**, strategic location approximately **10 minutes from Downtown Dubai and Business Bay**, and its unique feature of a **seven-kilometer man-made Crystal Lagoon**.
This brief was summarised and rewritten by Gaia Living from public reporting. Figures and details reflect the original sources.