Abu Dhabi Sultan sends luxury Jewel pad to auction
WHILE the majority of the Gold Coast’s long-awaited Jewel project sits empty and effectively off-market, two apartments have popped up for sale, including one owned by a Sultan.
A two-bedroom, two-bathroom, 165sqm apartment with a study is on the 30th floor of tower one and is set for auction on May 12 after hitting the market last week.
A compact one-bedroom, one-bathroom, 87sq m apartment on the 11th floor is also being advertised for offers over $1.15m.
More than 220 luxury units in the $1.4bn project are empty and have been effectively off the market for more than 18 months.
The Gold Coast property market is heaving with record high prices, but as few as 12 apartments – totalling $20m – have settled in the tower. which sits on the beach at southern Surfers Paradise.
The last apartment sold in October 2020, with Jewel owners AW Holdings not planning any marketing until after the launch of the site’s Langham Hotel later this year.
The apartment set for auction, number 13003, is owned by Adnan Sultan Saif Al Nuaimi, director-general of Abu Dhabi’s lucrative Equestrian Federation, who bought it for $2.67m in 2016.
It’s being marketed by Travis Brown of Amir Prestige, who had fielded 27 inquiries within the first week of listing.
“People have been very curious about what’s happening there,” Mr Brown said.
“We had an offer, from an internet celebrity, at the first open for inspection. I submitted it to the Sultan, and he’s instructed that he will sell the property at 5.30pm on May 12.”
The one-bedroom apartment, 11105, has been on the market with Remax since March 15.
It’s owned by Fatma EISH Bahzad and Aref EHY Alyousifi, who purchased two neighbouring units for $1.23m each in 2016.
Their other one-bedroom apartment was advertised for rent at $695/ week in February.