European billionaire’s family office buys $50 million penthouse in Dubai’s One Canal

Dubai: A penthouse at One Canal in Dubai was sold for $50 million to the family office of a European billionaire. The sale came after a collaboration with Fendi Casa in November 2022, launching the One Canal project with a gross development value of $450 million. The 30,000-square-foot penthouse is the final piece of available inventory, and Everose Properties, represented by Karl Shehfe and Gregory Mathieu, managed the transaction.

The penthouse is a combination of four rooftop units and offers amenities such as a gym, steam room, sauna, rooftop garden, multiple pools, high ceilings, and dual parking spaces. It provides panoramic views of iconic landmarks including the Burj Khalifa, Burj Al Arab, and the Dubai Canal.

The project, designed by Hirsch Bedner Associates, offers luxury villa-like spaciousness and city views. The architecture was handled by renowned architect Shaun Killa, known for designing the Museum of the Future.