‘The Dorchester Triplex’, a Downtown property is the latest super-prime deal that Dubai’s real estate market has witnessed. Three-floor penthouse just bought for Dh75 million, extending Dubai’s hot property market trend further. In addition to being a sign that wealthy buyers are focusing on luxury villas in Dubai, the deal for a unit at Omniyat Properties’ Dorchester Collection building also points to wealthy buyers making super-premium villas their top priority.
With an area of 17,712 square feet and “exceptional views” of Downtown Dubai and Burj Khalifa, the penthouse was purchased in shell and core form. Omniyat has been involved in several previous penthouse deals, including two of the most expensive deals in Dubai to date at the Palm One project. According to the developer, these high-rise projects on the Palm Jumeirah sold for Dh102 million and Dh73 million, respectively.
“Given the high price tags of the higher-end luxury properties, investors and buyers want to get the most value for their money,” said George Azar, Chairman of Luxhabitat Sotheby’s, which brokered the deal. “What makes a luxury property even more impressive? When it is like nobody else’s.
“In Dubai, there are far more opportunities for buyers to customize their homes to their personal preferences, adding in unique touches and exciting amenities.”
The Dorchester has only 39 units.