A five-bedroom, 2,000-square-metre penthouse atop a 71-storey skyscraper has broken the record for the most expensive property in Dubaias it sold for $136 million, before it was even built.
The apartment will be located in the Como Residences tower on Palm Jumeirah, an archipelago of man-made islands famous for its luxury villas, expensive hotels and beach clubs with infinity pools.
The Como Residences are currently under construction and, according to Provident Estate, the estate agency that handled the record sale, are expected to be completed by the end of 2027. The previous record for penthouse sales in Dubai was set just a few months ago , when an apartment on the highest floor of the Marsa Al Arab Hotel sold for $114 million, CNN notes.
According to Provident Estate, the Como Residences penthouse is the third most expensive in the world, after Penthouse D at London’s One Hyde Park ($237 million) and Odeon Tower Penthouse in Monaco ($440 million). This penthouse has a swimming pool with 360 degree views of Burj Al Arab, Burj Khalifa (which is the tallest building in the world) and Dubai Marina.
The brokerage did not identify the buyer, but told CNN he was from Eastern Europe.
The Como Residences skyscraper, being built by Nakheel, will exceed 300 meters in height and have just 76 apartments, ranging from two to seven bedrooms each. It will also have an elevated private sandy beach. Each floor will have only one or two residences and will be served by a private elevator. The starting price for the apartments is $5.7 million.
Chris Boswell, a broker who has sold $55 million worth of properties in the region, tells CNN that recent years have seen a shift in the profile of buyers in Dubai. “We’re seeing more people now buying to live here. For many years, we dealt mainly with profit-oriented investors, but now Dubai does not have the same scene as before, it is not full of cranes and constructions and people are coming to live here. I see a lot more interest from the United States, from Italy, from France, from the United Kingdom.”
As he points out, one of the factors that attract foreigners to Dubai is security.
