Record-Breaking $34 Million Sale of Empty Sand Plot on Dubai's Jumeirah Bay Island

UK entrepreneur Umar Kamani sold a 24,500-square-foot empty sand plot for $34 million, making a 242% profit in two years.
The plot is on a man-made, seahorse-shaped island in Dubai full of luxury resorts and retail.
Kamani bought the plot for just under $10 million and sold it for $34 million, earning a $24 million profit before fees.
The buyer plans to build a family vacation home on the empty sand plot.
Kamani owns an identical neighboring plot he plans to sell for $36.7 million.