Palm & Peak proposes to acquire, rebuild, extend and resell a 7-bedroom A Type villa in Jasmine Leaf, Al Barari, Dubai's most exclusive low-density eco-community. The defining feature is the land: a 37,717 sqft plot, among the largest in the whole of Al Barari and roughly 2.3 times a standard A Type, backing directly onto the community waterway with mature planting on all sides. The villa is acquired at AED 65.0M against an AED 80.0M asking price, taken through an AED 30.0M full rebuild to ultra-prime specification, extended from 16,902 sqft to 25,000 sqft of built-up area at AED 2,000/sqft, and resold at a target of AED 170.0M within an 18-month programme.
The exit is priced on land and scale, not on the standard renovated-villa band. The only comparable-scale plot to trade, The Reserve at 33,159 sqft, sold for AED 121.2M in April 2025, or AED 3,655 per sqft of plot and AED 7,364 per sqft of BUA. Applying The Reserve's plot rate to 37,717 sqft gives AED 137.9M before any credit for the larger house; applying its BUA rate to 25,000 sqft gives AED 184.1M. The AED 170.0M target sits inside that bracket at AED 6,800 per sqft of BUA and AED 4,507 per sqft of plot, for a finished 25,000 sqft waterway estate with no equivalent on the market.
| Community | Jasmine Leaf, Al Barari |
| Type | A Type Villa (oversized plot) |
| Configuration | 7 Bed, maid's and driver's block |
| Levels | B + G + 1 + R, roof terrace 1,986 sqft |
| Condition | Finished, dated (full rebuild) |
| Outlook | Waterway and stream frontage to rear |
| Plot area | 37,717 sqft (3,504 sqm) |
| BUA - existing | 16,902 sqft |
| Extension | +8,098 sqft |
| BUA - post-extension | 25,000 sqft |
| Large-plot benchmark | 3,655 AED/sqft plot (The Reserve) |
Purchase at AED 65.0M against the AED 80.0M ask, inside the 60M to 75M closing range Savills models. Plot 37,717 sqft, BUA 16,902 sqft, 7-bedroom finished villa. Transfer registered through the Dubai Land Department; funded all-equity or with a 75% senior facility on property cost, per the selected financing scenario.
AED 30.0M full rebuild to ultra-prime specification, including the basement conversion to cinema and spa, plus an 8,098 sqft extension to 25,000 sqft BUA at AED 2,000/sqft (AED 16.2M). Circa 14 to 16 months of works. The plot depth allows the rear elevation to be opened fully to the lawn, pool and waterway.
List at a target AED 170.0M, or AED 6,800/sqft on post-extension BUA and AED 4,507/sqft on plot, priced between The Reserve's plot rate (AED 137.9M on this land) and its BUA rate (AED 184.1M on 25,000 sqft). A finished 25,000 sqft waterway estate on one of the largest plots in Al Barari has no direct competitor.
Move any slider to test the deal live. The all-equity base case reproduces the underwriting model exactly. In the debt scenario the senior facility funds the chosen share of property cost (purchase + DLD + buyer agent); construction, holding and fees are funded by equity. Interest accrues simple, is rolled up and repaid with principal at exit.
The LP funds 100% of the capital. Profit is split on the project's annualised IRR under a standard LP / GP waterfall, stepping the GP's promote up as returns rise.
Standard renovated Al Barari villas trade at AED 4,200 to 4,900 per sqft of BUA on 11,000 to 22,000 sqft plots. This villa is not that product. The one registered sale on a comparable-scale plot, The Reserve (33,159 sqft plot, 16,458 sqft BUA), printed AED 121.2M in April 2025: AED 3,655 per sqft of plot and AED 7,364 per sqft of BUA. Our AED 170.0M target sits between those two yardsticks applied to this asset, with a 25,000 sqft house on 14% more land, waterway frontage and a full ultra-prime rebuild.
The Reserve (33,159 sqft plot, AED 121.2M, Apr-2025) and the Jasmine Leaf 5 6-bed (AED 80.0M, Jul-2025) are highlighted in the table below. Savills' own listing pack models exits of AED 110M to 130M on a AED 20M to 23M renovation without the extension to 25,000 sqft.
| Date | Sub location | Beds | Plot sqft | BUA sqft | Price (AED) | AED/sqft BUA | AED/sqft plot |
|---|
Source: Property Monitor / Savills, registered Al Barari transactions. AED/sqft computed on BUA and on plot. Highlighted rows: The Reserve (33,159 sqft plot, AED 121.2M) and Jasmine Leaf 5 6-bed (AED 80.0M). The 22-Jan Jasmine Leaf 5 BUA is corrected to 15,000 sqft.
| Risk | Mitigant |
|---|---|
| Exit price above any registered Al Barari print | Priced between The Reserve's plot rate (AED 137.9M on this land) and BUA rate (AED 184.1M on 25,000 sqft), the only large-plot evidence. Sensitivity shows the deal stays profitable down to an AED 130M exit, and Savills' own modelling puts the unextended villa at AED 110M to 130M. |
| Construction and extension cost overrun | Fixed-scope AED 30.0M rebuild plus AED 16.2M extension budgeted separately at AED 2,000/sqft, with staged contractor draws and a held contingency; scope specified before acquisition. Extension line can be flexed independently in the model. |
| Time to sell extends at this price point | Buyer pool for a AED 170M estate is narrow but well-defined (UHNW end users seeking land in Al Barari). IRR remains positive across the full 12 to 30 month grid; holding cost is under AED 30K a month against deal size. |
| Extension / GFA approval to 25,000 sqft | Existing 16,902 sqft on a 37,717 sqft plot leaves ample coverage headroom; basement, roof and staff block already in the footprint. The exit is tested at lower BUA in the model by editing the BUA and extension inputs. |
| Broader market softening | Entry at AED 65.0M, or AED 1,723/sqft of plot, is 19% below ask and half The Reserve's plot rate; land scarcity in Al Barari and an end-user buyer base cushion liquidity. |
Month 0: acquire and register transfer. Months 1 to 3: design, permits and extension approval. Months 3 to 15: rebuild, extension and landscaping. Months 15 to 18: list, market and secure buyer. Full round-trip targeted within 18 months, with the sensitivity grid covering 15 to 21 months.