Discovery Land Invests $1 Billion in Dubai's Desert Golf Course Project

Discovery Land Co., a US developer, is investing $1 billion in Dubai's upscale residential golf course, Discovery Dunes. The project, located in Dubai South, offers lots priced from $6 million to $25 million. The private club, Discovery Downtown, has recently opened at the Edition hotel, featuring a fully private golf course accessible only to homeowners in Discovery projects worldwide. While 10-15% of lots have been sold, half to American buyers, the project aligns with Dubai's demand for luxury real estate, aiming to set new standards in ultra-luxury homes and meeting pent-up demand through unique offerings.

The project is strategically positioned in the Dubai South neighborhood, with residents enjoying helicopter access to avoid traffic. Discovery Land's CEO, Michael S. Meldman, notes this as the company's first project in the Middle East after more than 15 years of searching for the ideal location. The development aims to generate approximately $6 billion in total sales from the 600-acre plot, offering buyers the choice of Discovery Land's designs or approved custom designs at $700 to $1,200 per square foot.

Despite historic low US investments in Gulf real estate, Discovery Dunes attracts American buyers to its desert golf course project in Dubai. The private club, Discovery Downtown, offers a unique golfing experience, and the corporation is initiating the construction of the golf course, clubhouse, health center, spa, and vegetable farm. The project caters to Dubai's ongoing demand for luxury real estate, with prices expected to increase by 5% in affluent communities in 2024, as per Knight Frank projections.

Discovery Land's innovative approach and commitment to ultra-luxury homes aim to transform Dubai's real estate market. The corporation plans to screen potential buyers through a membership application process for its private club, ensuring exclusivity and setting new standards in the region's real estate development.