In a city renowned for its opulence, Dubai continues to make headlines with the recent sale of a penthouse that is yet to see the first brick laid. This sprawling penthouse, spanning 2,500 square meters, has been acquired for an astonishing $115 million, solidifying its place as the most expensive apartment ever sold in Dubai.
Famed for hosting the world's loftiest skyscraper, the swiftest roller coasters, and the grandest fountain, Dubai consistently outshines records. Real estate is no exception, with grand properties like the $204 million Versailles-inspired palace currently claiming the title of the most expensive dwelling on the market in the UAE metropolis. Now, a fresh record is etched in stone with the sale of this luxurious penthouse.
The Jumeirah Group, a posh hotel chain owned by the Emirati government, has verified the sale of a penthouse within its forthcoming Jumeirah Marsa Al Arab hotel residence. Valued at $115 million, this unit stands tall as the most expensive apartment ever transacted in Dubai. Katerina Giannouka, CEO of the Jumeirah Group, conveyed in an official statement, "Jumeirah is committed to broadening its assortment of hotel residences to accommodate the surging demand for our distinctive concepts and extraordinary services. Our Jumeirah Marsa Al Arab complex possesses the allure to captivate potential investors, and we're delighted to present these unique residential concepts that redefine living and luxury in Dubai."
Crafted by architect Shaun Killa, the Jumeirah Marsa Al Arab is slated to unveil in the final quarter of 2023. Coined as "inspired by the opulence of mega yachts," the complex will encompass 387 rooms and suites, 82 deluxe residences, and an 82-berth marina for mega yachts. The largest penthouse sprawls over 2,500 square meters, featuring 1,200 square meters of outdoor space and a secluded pool. The private transaction also encompasses three other high-end flats and an additional 17 residences.
This sale marks the zenith of Dubai's ceaselessly expanding luxury real estate market. As per Hotelier magazine, Dubai presently boasts the highest density of hotel residences, and prognostications suggest a 72% growth in the market by 2030.