Breaking Records: Dubai’s Dh122 Million Penthouse Sale

Penthouse Sale

A luxurious four-bedroom penthouse in the Bulgari Resort and Residences in Dubai has recently been sold for a staggering amount of Dh122 million, setting a new record as the most expensive ready penthouse sold in the city. Spanning an entire floor with a generous area of 12,113 square feet, this sale highlights the enduring demand for opulent properties, particularly penthouses, among affluent buyers. The transaction was successfully completed by Driven Properties. Jumeirah Bay Island, also known as “Billionaire’s Island,” has witnessed a remarkable surge in interest from the ultra-rich, especially in the aftermath of the Covid-19 pandemic, leading to soaring property prices on the artificial island.

Dubai Penthouse Sale

Another remarkable achievement took place in the renowned Bulgari Resort and Residences, where a three-bedroom apartment recently achieved a groundbreaking sale price of Dh13543 per square foot. This astonishing figure established a new record for the highest price per square foot ever recorded in Dubai, with the apartment being sold for Dh42.9 million. This transaction surpassed the previous record held by Bulgari Resort and Residences itself, where an apartment was sold for Dh12624 per square foot, totaling Dh40 million, last year.

The ongoing momentum in Dubai’s real estate market demonstrates its position as one of the most vibrant and desirable markets globally, showing no signs of slowing down. Bulgari Resort and Residences, in particular, have consistently outperformed other areas, attracting significant interest due to its unparalleled privacy, exceptional location, and impeccable quality. Abdullah Alajaji, the Founder and CEO of Driven Properties, commented, “Dubai once again proves its position as a thriving market, with Bulgari Resort and Residences standing out for all the right reasons.”

Leila Shugri, the agent responsible for the sale, confidently affirms, “This recent sale not only confirms the flourishing condition of Dubai’s property market but also leaves no room for doubt regarding its continuous growth. Each passing day showcases evident expansion, making this transaction just the beginning of a series of remarkable deals in this prime location.”

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