Who’s up for a Dh180 million Dubai penthouse? And it’s all part of a high-profile project that’ll be completed soon.
According to estate brokers, the 25,000 square foot penthouse at The Royal Atlantis Resort and Residences, which is said to be the most expensive in the market, has gotten a lot of interest. “Closer to the completion date of the project is when we expect to see a deal happening,” said one agent who has been involved with the project on the Palm since its inception.
This will be the most expensive penthouse transaction in Dubai once the acquisition is completed. The twin-structure building’s residential portion will be completed in late summer, with the hotel set to open in the fourth quarter.
Timothy Kelly, Executive Vice-President and Managing Director of Atlantis Dubai refer to it as the “super-penthouse.” “Except for the super-penthouse, all 230 residences have been sold,” said Kelly. “The current price is Dh180 million and it will be the most stunning penthouse in entire Dubai, featuring three floors, 25,000 square feet, and two outdoor terraces with pools.
“The Residences have high-profile owners from all continents – they are the ‘world citizens of high-end luxury.”
On investors’ radar
In fact, a flat in the complex sold for Dh41 million last month, making it the second most expensive apartment transaction in Dubai in April. (According to DXBInteract.com, the most expensive deal was for Dh45 million at the Il Primo, a super-luxury skyscraper Downtown.)
The Palm recently completed One at Palm, Dorchester Collection, where two of the most expensive penthouse sales in recent memory occurred. There have also been other eye-popping sales going around the island stretch, including a Dh280 million villa deal, which is easily the most expensive deal in the city to date.