Dubai’s luxury real estate market has reached new heights with the sale of a penthouse in the Downtown area for a record-breaking AED 80 million (approximately $21.8 million). This surpasses the previous record set in 2022, solidifying Dubai’s position as a global leader in the super-prime property market.
The landmark deal was secured by Knight Frank MENA and involved the “Sky Collection Penthouse” located within the prestigious Kempinski The Boulevard development. This four-bedroom duplex boasts an expansive 7,466 square feet, offering unparalleled luxury and breathtaking views of the iconic Burj Khalifa.
The epitome of opulence, the penthouse features:
- Five luxurious bathrooms and a powder room
- Two fully-equipped kitchens
- Designer furnishings by Fendi
The staggering sale price translates to an astonishing AED 10,715 per square foot, significantly exceeding both the average price of Downtown Dubai apartments and branded residences in the area. This exemplifies the exclusivity and desirability of this one-of-a-kind property.
Younus Karim, the Knight Frank MENA agent who secured this record-breaking deal, commented on the significance of the sale. He highlighted Dubai’s enduring appeal for high-end property investors and the city’s position at the forefront of the global super-prime real estate market.
This record-breaking sale is a testament to Dubai’s enduring allure for luxury property buyers. With its world-class infrastructure, thriving business environment, and commitment to innovation, Dubai continues to attract affluent individuals seeking a luxurious and cosmopolitan lifestyle.
