CNN’s series on luxury real estate in Dubai is sponsored by the destination it highlights. The network retains full editorial control over subject matter, reporting, and frequency of articles and videos within the sponsorship.
A record-breaking sale has been made in Dubai’s luxury real estate market with a five-bedroom penthouse covering almost 22,000 square feet selling for 500 million UAE dirhams (over $136 million). Located atop the exclusive Palm Jumeirah archipelago, this yet-to-be-built apartment offers stunning views of the coastline and is part of the Como Residences currently under construction.
The Palm Jumeirah spans an area of 560 hectares and is home to about 80,000 people. Its newest attraction is the Palm Tower, a hotel and private residence skyscraper with a public observation deck offering panoramic views of Dubai. The penthouse at Como Residences features a sky pool and strategically located spot with views of iconic landmarks such as Burj Al Arab, Burj Khalifa – the world’s tallest building – and Dubai Marina.
The buyer remains anonymous but hails from Eastern Europe according to Provident Estate agency which brokered the sale. With completion anticipated by late 2027, they will have to wait three more years before enjoying their purchase.
Luxury real estate agent Chris Boswell notes that there has been a shift in buyers’ motivations in recent years with more people buying properties to live rather than for speculative investment purposes. He also emphasizes that safety concerns are motivating factors for individuals moving to Dubai.
With limited availability of properties like this penthouse at Como Residences tower being one factor driving demand despite long waiting periods due to construction timelines. Boswell adds that inquiries are coming from various countries including United States, Italy, France, UK indicating growing interest in living in Dubai among international buyers seeking unparalleled views offered by luxurious properties like this penthouse.
