May 17, 2024 - Real Estate

UAE dropped $55 million on McLean land for a future compound

Map showing the locations of three lots purchased by the UAE in McLean, Virginia. The lots are at 1019, 1049 and 1079 Crest Lane.
Map: Axios Visuals

The United Arab Emirates (UAE) government dropped $55 million for 18 acres stretching along the Potomac River in McLean, where it plans to build a diplomatic compound, reports the Washington Business Journal (WBJ).

The big picture: The 2022 sale — which happened off-market in a single transaction, but is listed in Fairfax County public records — consisted of three adjacent undeveloped lots: 1019, 1049, and 1079 Crest Lane in McLean.

  • Proposed plans include building a diplomatic residence on each lot, with an arrival court connecting all three and a cart path encircling the entire compound, according to paperwork filed with the county by a development company.

Zoom in: One residence would span 23,947 square feet and have between 13 and 17 bedrooms, reports the WBJ. Another would have two wings.

  • Also included in the compound plans: A 2,000-square-foot paddle tennis court and an almost 11,500-square-foot exercise building with a cryo chamber, yoga and boxing studios, saunas, a juice bar, a massage room, and a Japanese spa with a cold plunge.

The UAE bought the properties from a trust connected to UUNet Technologies founder Richard L. Adams, Jr., reports the WBJ.

The intrigue: The UAE already owns a property nearby at 1005 Crest Lane, which it purchased in 2006 for $11 million, according to property records.

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