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Fortune
Fortune
Eleanor Pringle

An empty plot of sand in Dubai just sold for $34 million

Umar Kamani Dubai Mahmud Kamani Knight Frank PrettyLittleThing
A relatively undeveloped artificial island off the coast of Dubai (Credit: MiklGusev—Getty Images)

A fashion entrepreneur has made a 242% profit on a lot of sand which he has simply held on to for two years.

British fashion boss Umar Kamani, former CEO of online retailer PrettyLittleThing, bought the empty 24,500-square-foot plot on Dubai’s artificial island of Jumeirah Bay two years ago.

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