A penthouse in the Burj Khalifa district sold for Dh139 million ($37.8 million), according to private luxury property developer Omniyat, making it the most expensive property in the neighbourhood.
Over 16,594 square feet, this four-bedroom penthouse at The Lana Residences, Dorchester Collection, overlooks the Marasi Marina, which lies between the Dubai Design District and the Burj Khalifa District. It was recently opened.
Due to the influx of wealthy people into the city over the past three years, Dubai’s luxury and branded market has experienced tremendous growth.
Knight Frank’s most recent report states that 12 properties valued at $25 million were sold in the first quarter of this year, compared to 56 properties sold in Dubai last year that were valued at over $25 million.
Dubai continues to lead the world in sales of luxury real estate, with sales of properties valued at $10 million or more reaching 431 last year. London (240), New York (211), Hong Kong (163), and Los Angeles (161) follow.]
Prior to that, in 2017, Omniyat’s penthouse at One at Palm Jumeirah, Dorchester Collection, Dubai, sold for Dh102 million, making it one of the most costly homes ever sold in the United Arab Emirates. The sale of the Sky Palace at AVA at Palm Jumeirah, which set a record, for Dh220 million in 2023, came next.
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