Dubai: However, Atlantis The Royal resort & Residences on the Palm is still doing quite well – considering that there is an apartment to be sold there for Dh180 million. One of Dubai’s most expensive property deals this year was the purchase of a penthouse there for Dh64 million.
This 8,300 square feet unit was bought by a European national, further confirming Dubai’s appeal to wealthy overseas investors looking to invest in real estate. This four-bed penthouse is the second most expensive property in the development after the top-floor five-bedroom penthouse triplex, which is listed for Dh180 million.
“It is a good example of how HNWI (high networth individuals) still consider Dubai the number one destination for property investment,” said Nikita Kuznetsov, Partner at Metropolitan Group and CEO of Metropolitan Premium Properties, which brokered it. “The deal was concluded in just four days further highlighting the confidence in Dubai’s economy and real estate market.
“We have seen strong demand for luxury properties especially from international buyers primarily from the CIS, the UK and other parts of Europe including France, Germany and Austria.”
Among Metropolitan’s biggest transactions were two penthouses at the W Residence, Palm Jumeirah, which sold for Dh102 million to the same buyer, in addition to a Royal Atlantis Garden Villa for Dh44 million, and one in IL Primo Downtown for Dh42 million to a European buyer.
Destination Atlantis
Kerzner built and operates Atlantis The Royal Dubai on the crescent of the Palm with 231 apartments, 693 hotel rooms, and 102 suites.