Dubai: The second most expensive deal for a penthouse apartment in Dubai has been sealed for Dh73 million. And it is in the same building - the One Palm - as the most expensive, which went for Dh102 million in late 2017.

That leaves only a third penthouse at the project being built by Omniyat on Palm island, for which the developer expects to beat the Dh73 million tag. “We pay incredible attention to detail and source only the finest materials that attract the most discerning clients to the region,” said Mahdi Amjad, Omniyat’s Executive Chairman and CEO.

Before the latest deal was announced, market sources were expecting the unit to fetch around Dh80 million and then some. But the top-end of the luxury market in Dubai is awash with new projects and competing for the same buyers. A sales tag of Dh73 million represents a big win for the developer whatever be the market condition, sources add. The name of the buyer has not been revealed, but the unit covers more than 20,000 square feet.

As for the Dh102 million home, it encompasses 29,800 square feet across three floors and includes 11,500 square feet of exterior space with a 25m lap pool on one of the floors.

“Dubai continues to cement itself as the most sought-after residential location of choice, with multi-millionaires shifting their home base to the country,” said Amjad.