Dubai: Dubai’s property market is buzzing with excitement this week as yet another penthouse sale has set new records. After the record-breaking sale of a Marsa Al Arab penthouse in Jumeirah for Dh420 million, Luxhabitat Sotheby’s International Realty announced Tuesday that it has closed a deal for the most expensive penthouse ever sold on the Palm Jumeirah for Dh220 million.
The company’s Executive Partner, Honey Deylami, secured the sale of a shell-and-core four-floor mega sky palace in AVA at Palm Jumeirah, Dorchester Collection, an exclusive development in Palm Jumeirah with only 17 residences.
The penthouse sold was on the topmost floor of the development, spanning a built-up area of 33,406 sq ft. The property features a 360-degree infinity lap pool and offers views of Palm Jumeirah, Burj Al Arab, and Ain Dubai and has a four-floor 200m indoor garden and a roof terrace with 360-degree views.
Honey said, “Palm Jumeirah is proven to be one of the most sought-after locations for ultra HNW clientele. Although very limited stock is available on the island regarding existing or new developments, 611 transactions took place on the island in Q1 this year, worth Dh 5.8 billion in sales volume.”
According to her firm, Honey is the top-performing broker at Luxhabitat Sotheby’s International Realty, with over Dh3 billion in sales closed in 2022.
AVA at Palm Jumeirah, Dorchester Collection offers exclusive residences with private terraces, a pool, and 270-degree views, including a private elevator and lobby. The development includes simplexes, duplexes, and the sky palace mansion with the largest infinity pool.