Dubai: The costliest penthouse in Dubai has just been sold — a 14,000 square feet full-floor unit at the upcoming Bvlgari Resorts and Residences has gone for Dh60 million. The property, part of a Meraas development, is due for completion later this year.
This is the most expensive penthouse transaction to date in the city, and ahead of one at the Fairmont on the Palm that went for Dh42 million in December 2012. The deal was brokered by the estate agent Luxhabitat.
But there are units at Al Habtoor City and Omniyat Properties’ Palm One where potential sales could fetch over Dh180 million plus.
According to the firm’s Luxury Sales Director, Alexander Von Sayn Wittgenstein, “This penthouse is very special because it has 270-degree views of Downtown Dubai and the sea. It’s the largest penthouse I’ve ever come across for a branded development in Dubai.”
Other branded developments that host penthouses include the Armani Residences, Kempinski Hotels & Resorts, The Fairmont Palm Residences and Palazzo Versace. Branded developments can demand up to a 46 per cent premium in terms of prices per square feet, according to a Luxhabitat analysis in 2015.
Another penthouse sold this year fetched Dh36 million — at the Volante and spread across 10,806 square feet.
