Dubai: The most expensive property in Dubai is nearing the mark of Dh200 million. A penthouse with all the trappings of luxury is available on the Palm for Dh180 million (about $49 million).
The five-bedroom penthouse triplex at Atlantis The Royal Resort & Residences is selling, which is spread over 25,000 square feet and comes with an outdoor deck with its own infinity pool. Additionally, there is a private lounge and beach, as well as access to five-star amenities.
Atlantis The Royal Dubai is built and operated by Kerzner and features 231 apartments, 693 hotel rooms, and 102 suites on the crescent of The Palm. “We are continuing to see strong demand for luxury properties from overseas investors,” said Nikita Kuznetsov, Partner at Metropolitan Group and CEO of Metropolitan Premium Properties, which is one of the brokers handling the deal.
“Sales of properties over Dh5 million accounted for 15 percent of the total sales in the first six months with the average sales price of high-end property increasing from Dh5 million to Dh10 million.”
There have been a number of sales of property worth Dh100 million in Dubai in recent months, most of them on The Palm. A property valued at Dh180 million raises the bar on luxury to an entirely new level. In terms of price, the most expensive penthouse sold in Dubai to date was in Omniyat’s One Palm development about four years ago. This penthouse sold for more than Dh100 million.