A penthouse at the Bugatti Residences in Business Bay sold for Dh550 million, the highest price ever achieved for a property in Dubai and the Middle East, setting a new record and signaling significant shifts in the city’s upscale real estate market.
The deal, which was carried out under the supervision of Abdullah Binghatti, Chief Sales Officer at Binghatti, also established a new price per square foot cap in Business Bay of Dh11,650. The deal highlights the city’s prominence in the world of upscale real estate.
This penthouse, which is 47,200 square feet in size, atop an exclusive address that is already linked to extreme grandeur. The first Bugatti-branded residential property in the world is Bugatti Residences by Binghatti. Football player Aymeric Laporte, tenor Andrea Bocelli, and football player Neymar Jr. have all been drawn to the development. The project offers a blend of privacy, unique amenities, and close access to key attractions by fusing elements of French art de vivre with the vitality of Dubai’s Business Bay.
Chairman Muhammad Binghatti said, “Year to date, we have achieved the number-one position in Dubai’s real estate market, with more than 14,000 units sold, surpassing both public and private peers. As Dubai’s fastest-growing real estate player, Binghatti has now risen into the top three developers in the city, commanding a significant share of the market according to the latest Dubai Land Department figures. These results reflect the strength of our strategy and the trust our clients place in our vision.”
The record-breaking number for this Bugatti penthouse shows the region’s growing demand for ultra-premium houses and the continued expansion of Dubai’s upper housing market. Bugatti Residences is raising the bar for exclusivity and architecture with its distinctive Sky Mansion penthouses and cutting-edge architectural features. The agreement enhances Dubai’s standing as a top choice for people looking for upscale and modern living options.
