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Dubai: Ultra-luxury penthouse sold for record-breaking Dh420 million

Previous record for the costliest penthouse was Dh410 million, which was sold in Bvlgari Lighthouse, Jumeirah Bay Island

Published: Tue 23 May 2023, 10:55 AM

Updated: Tue 23 May 2023, 8:05 PM

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Demand for Dubai’s ultra-luxury properties continues to grow unabated and there are no signs of slowing it down as record-breaking deals in the prime segment continue one after the other.

On Tuesday, luxury real estate company Luxhabitat Sotheby’s International announced the sale of the most expensive penthouse in Marsa Al Arab for a record Dh420 million.

The luxury real estate was sold by Taieser Al Saati, an executive partner at Luxhabitat Sotheby’s International Realty, for Dh17,000 per square foot. However, the name and nationality of the buyer were not disclosed.

The previous record for the costliest penthouse was Dh410 million which was sold in Bvlgari Lighthouse, Jumeirah Bay Island, in February 2023.

“Dubai's thriving real estate landscape, particularly in the luxury sector, provides an exceptional platform for remarkable accomplishments. This sale is a testament to the vibrant and progressive luxury property market in Dubai,” said George Azar, CEO of Sotheby’s International Realty.

Situated at the Marsa Al Arab Hotel, the Marsa Al Arab penthouse commands the highest floor, spanning an impressive 24,628 square feet and features a private pool, and 360-degree ocean vistas of Dubai.

Additionally, the residence benefits from proximity to the newly constructed superyacht marina, further enhancing its unparalleled luxury experience.

Marsa Al Arab Hotel will feature 386 rooms and suites, 4 penthouses, as well as 83 luxury hotel apartment suites set amidst abundant private gardens.

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