Real Estate
By Hannah Frishberg
Published Dec. 5, 2023, 5:50 p.m. ET
The most expensive penthouse in Dubai has just been sold for over $136 million, setting a new record for the city’s real estate market. The previous record was set earlier this year when a floor-through unit at the Marsa Al Arab Hotel was sold for approximately $114 million.
What makes this sale even more remarkable is that the penthouse doesn’t even exist yet – it’s still in the planning stages. Once completed, it will cover an impressive 22,000 square feet atop the soon-to-be-built Como Residences and is expected to be finished by late 2027.
Located on the Palm Jumeirah, a luxurious archipelago of man-made islands shaped like a palm tree known for its upscale properties, this penthouse offers exclusive amenities including its own pool as well as access to the building’s infinity pool and lap pool.
With breathtaking views from such great heights and unparalleled luxury features, it’s no wonder that high-end buyers are willing to wait several years for these trophy assets. Despite Dubai’s reputation for opulent real estate offerings, large-scale penthouses like this one are rare in today’s market.
This unprecedented sale sets a new standard in Dubai’s competitive real estate landscape and demonstrates that there is strong demand among wealthy individuals seeking unique and prestigious properties in prime locations around the world.
