Stock - Marsa Al Arab - Luxhabitat
The record-setting penthouse occupies the highest floor of the Marsa Al Arab hotel. Image Credit: Supplied

Dubai: Just weeks after Dubai property market set a record on a penthouse sale, a new one has overtaken it.

A unit at the under-development Marsa Al Arab Hotel has sold for Dh420 million, with per square foot price coming to Dh17,000. This becomes the most expensive apartment sold in Dubai to date. 

The sale was done by Taieser Al Saati, Executive Partner at Luxhabitat Sotheby’s International Realty. The deal vaults over what a Bulgari Lighthouse apartment sold for Dh410 million achieved.

The penthouse on the highest floor spans 24,628 square feet. This living space has 17,000 square feet of outdoor area, featuring a private pool and 360-degree ocean vistas.

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“Dubai's thriving real estate landscape, particularly in the luxury sector, provides an exceptional platform for remarkable accomplishments," said George Azar, CEO of Sotheby’s International Realty in the UAE. "This sale is a testament to the vibrant and progressive luxury property market in Dubai."

The Marsa Al Arab Hotel will have 386 rooms and suites, 4 penthouses, apart from 83 hotel apartment suites set alongside private gardens.