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A $27.7 million flat that sits on the top floor of a posh residential tower on Palm Jumeirah in Dubai is officially one of the priciest homes on the planet.
A corner unit in the One at Palm Jumeirah, the apartment has just been featured on a list of the eight priciest penthouses in the world by luxury portal Prestige. It was featured alongside luxurious properties in Italy, Hong Kong, Singapore, United Kingdom, Australia and the United States.
The unit, which offers unparalleled views of Dubai Marina, Jumeirah and the Persian Gulf, was snapped up in 2017 for 102 million dirhams by a buyer from the GCC region.
The One at Palm Jumeirah terrace in Dubai.
The One at Palm Jumeirah is the first building that can be seen at the approach of the man-made island. It has been developed by Omniyat Properties and managed by hotel operator Dorchester Collection, which is renowned for its luxury properties worldwide.
The other units featured on the Prestige list include the Sky Penthouse in Monaco, which was listed for $335 million; the Boyd Residence in Sydney, which went on the market for $50 million in 2018; and a penthouse in One Hyde Park in London, which was mortgaged for £160 million ($219 million).
Dubai has been generating a lot of interest from property buyers in the country and abroad since the COVID-19 restrictions eased last year.
Properties worth a combined value of 11.11 billion dirhams were snapped up in May 2021, posting a 324 percent growth since May 2020, according to Property Finder.
(Writing by Cleofe Maceda; editing by Seban Scaria)
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© ZAWYA 2021
