An empty plot of sand on an artificial island in Dubai has sold for $34m, in a record-breaking deal that has made its former owner a 242 per cent profit on the undeveloped property.
The land in question is located on Jumeirah Bay Island, a man-made island accessible by bridge from the Dubai mainland, according to Bloomberg, which reports that the 24,500-square-foot space sold for 125m dirhams on 19 April.
