Dubai's Palm Jumeirah Villa Sold for USD 7.6 Mn

Dubai: A luxury villa on Dubai's Palm Jumeirah has been sold for nearly USD 7.6 million at an auction, bucking the trend that saw property prices on the island decline steeply in the recent months. The six-bedroom Signature villa, located on a 13,000 sq ft plot, attracted an opening bid of USD 5.9 million (22 million dirhams) at a private auction, developer Nakheel said in an emailed statement. "The highest bid fetched nearly USD 7.6 million (28 million dirhams)," the developer added, without specifying the sale price.