A five-bedroom penthouse measuring nearly 22,000 square feet has sold in Dubai for 500 million UAE dirhams – more than $136 million – setting a new record for one of the world’s most luxurious real estate markets.
Perched atop a 71-story tower called Como Residences, the unfinished apartment sits on the Palm Jumeirah — an archipelago of man-made islands known for its designer villas, luxury hotels and beach clubs with infinity pools.
The building is not completed yet.
Built more than 20 years ago, the island covers 560 hectares and is home to around 80,000 people. Its newest attraction is the Palm Tower, a 52-storey (232m) skyscraper and private hotel with a 360-degree public observation deck at the top, offering stunning views of the Dubai coastline.
Como Residences is currently under construction and Dubai real estate agency Provident Estate says it is expected to be completed by the end of 2027 – meaning penthouse buyers will have to wait at least three more years before they can enjoy their home.
Record-priced apartment in 71-story building
The previous record for a Dubai penthouse was set just a few months ago, when a penthouse on the top floor of the Marsa Al Arab hotel sold for 420 million UAE dirhams (about $114 million). According to Provident Estate, the penthouse at Como Residences is the third most expensive in the world, after Penthouse D at One Hyde Park in London, which cost $237 million, and the Odeon Tower Penthouse in Monaco, which cost $440 million.
The Como Residences penthouse features a 360-degree rooftop pool and is located in a "strategic" location in Dubai with views of the Burj Al Arab, the Burj Khalifa - the world's tallest building - and Dubai Marina, according to CNN. The buyer of the apartment has not been identified but is "from Eastern Europe".
World famous artificial island
According to developer Nakheel, the Como Residences tower will be over 300m tall, meeting the definition of a supertall skyscraper. Limited to just 76 apartments, ranging from two to seven bedrooms, it will include a private elevated sandy beach, a 25m lap pool and a rooftop infinity pool. Each floor will have just a few occupants, with its own elevator. Starting prices for the apartments are set at 21 million dirhams, about $5.7 million.
Interior of the apartment
“It’s an exclusive property, it’s very much a trophy property,” said Chris Boswell, a luxury real estate agent based in Dubai who was not involved in the sale. Given the limited number of properties like this, he was not surprised that someone would wait years to get one. “There aren’t any large-scale penthouses like this, unless you’re looking for something off-plan, which means under construction.”
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