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Dubai: Bluewaters Island's most expensive penthouse sold for Dh80 million

Emirate's luxury property market has seen unprecedented demand, pushing high-end property prices to an all-time high this year

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by

Waheed Abbas

Published: Thu 22 Jun 2023, 12:40 PM

Last updated: Thu 22 Jun 2023, 7:04 PM

A penthouse has been sold for Dh80 million on Bluewaters Island, becoming the most expensive penthouse to be snapped up on the Island.

Sold by B1 Properties, the four-bedroom penthouse spans an area of 9,252 square feet. The emirate’s luxury property market has seen unprecedented demand, pushing high-end property prices to an all-time high this year.

An apartment at Bvlgari Lighthouse, Jumeirah Bay Island was sold for a whopping Dh410 million ($112 million) earlier this year, becoming the most expensive apartment to be sold ever in the emirate. The nine-bedroom apartment is spread over 38,970 sqft, of which 13,066 sqft consists of a balcony/terrace.

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While the most expensive villa was sold in Palm Jumeirah for Dh600 million. Recently, Bugatti Residences by Binghatti launched the most expensive penthouse at Dh750 million.

Deniz Zeybek , Vice President of Sales, B1 Properties, said they have sold properties worth Dh1 billion since their inception a year ago, contributing to Dubai’s growing reputation as a hub for luxury real estate and the continuous interest in the Emirate.

"We are thrilled to have achieved such extraordinary sales in a time when there is a slow-down in the market,” said Babak Jafari, CEO of B1 Properties.

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Waheed Abbas

Published: Thu 22 Jun 2023, 12:40 PM

Last updated: Thu 22 Jun 2023, 7:04 PM

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