Billion-dirham baby

Al Habtoor Group is bringing what are probably the most luxurious and largest penthouses with a value to match to the market. The two “quadruplex” or four-storey penthouses will be part of the Al Habtoor City development being built along the existing banks of the Dubai Canal along Shaikh Zayed Road.

“We don’t have plans to sell the VIP penthouses, but if we did put them on the market, we would not sell any of them for less than $250 million [Dh918 million],” Khalaf Al Habtoor, Chairman of Al Habtoor Group, has stated.

The two quadruplex penthouses are among 11 luxury penthouses in the Al Habtoor City project. Both offer a sumptuous VIP lifestyle at a lofty height of around 300 metres, one each at the top of two 74-storey, 304-m residential towers in the development.

With 3,000 sq m of living space to play with, each of the penthouses features seven bedrooms, garden terraces, a pool and Jacuzzi, and a 360-degree sky lounge with sweeping views of the city and the gulf.

The smaller penthouses, meanwhile, include three simplex and six duplex units. There are also around 1,450 luxury apartments ranging from two- to seven-bedrooms units, distributed among the two high-rise towers and a smaller 220-m building with 40 floors.

According to Al Habtoor, they also have no plans to sell any of the other apartments. All residential units will be leased out to tenants. Asteco Real Estate Services will be in charge of marketing and managing the residential complex, which is designed by WS Atkins.

The residences sit alongside the three Starwood-managed hotels and Franco Dragone water show theatre, which are among the core components of Al Habtoor City.

Residents can expect a luxurious lifestyle with access to a temperature-controlled shopping and food and beverage boulevard, multiple pools, gyms, spas and a tennis academy with air-conditioned courts and a clubhouse. There is also a crèche, according to Al Habtoor, who said there wouldn’t be any need for residents to leave the 10-million-sq-ft city.

“Al Habtoor City is the biggest residential and hospitality development in the world under construction today,” he said.