Dubai: This is the season for luxury penthouse sales in Dubai. There was just another sale at the Bulgari development in Jumeira Bay for Dh40 million, another indication of the strong performance of Dubai’s top-end market.
With a price tag of Dh61,06 per square foot, this penthouse offers dual views of both the Dubai skyline and sprawling marina. The Bulgari Resorts and Residences has had a busy year, with 23 units changing hands for a combined Dh649 million. Luxhabitat Sotheby’s International realty says the address has consistently ranked among the most expensive transactions in Dubai in recent years.
Another major penthouse sale in Dubai has recently occurred from Omniyat as well as Signature Development, which sold a Dh50 million penthouse at the 118 in Downtown.
“The unit was listed exclusively with me to sell it on an off-market basis – and I’m happy to have facilitated this sale in less than 30 days,” said Honey Deylami, Associate Director of Luxhabitat Sotheby’s.
“Of late, the Dubai real estate market is booming, with a high demand for these exclusive penthouses at Bulgari Resorts & Residences, with none currently available on the market to meet the demand. Since 2018 year-on-year, the average price per square foot for a unit in Bulgari Resorts & Residences has increased by 20 percent.”