As record-breaking deals in the prime category occur one after another, demand for Dubai’s ultra-luxury residences is still on the rise and showing no signs of slowing down.
The most expensive penthouse in Marsa Al Arab was sold for a record-breaking Dh420 million on Tuesday, according to luxury real estate firm Luxhabitat Sotheby’s International.
Taieser Al Saati, an executive partner at Luxhabitat Sotheby’s International Realty, sold the opulent property for Dh17,000 per square foot. The buyer’s name and country of citizenship were not made public, though.
The previous most expensive penthouse was sold for Dh410 million at the Bvlgari Lighthouse on Jumeirah Bay Island in February 2023.
“Dubai’s thriving real estate landscape, particularly in the luxury sector, provides an exceptional platform for remarkable accomplishments. This sale is a testament to the vibrant and progressive luxury property market in Dubai,” said George Azar, CEO of Sotheby’s International Realty.
The Marsa Al Arab penthouse, which is located in the Marsa Al Arab Hotel, is on the highest floor and is a whopping 24,628 square feet. It also has a private pool and 360-degree views of Dubai’s ocean.
The property also benefits from being next to the recently built superyacht marina, further boosting its unmatched level of luxury.
Amidst a plethora of private gardens, the Marsa Al Arab Hotel will offer 386 rooms and suites, 4 penthouses, and 83 luxurious hotel apartment apartments.