Led by the Palm Jumeirah, unprecedented demand for luxury property continues to set records in Dubai as a new three-bedroom duplex apartment has been sold for Dh12,387 per square foot on the Palm Jumeirah, becoming the most expensive property to be sold per square foot on the man-made island and the second most expensive in the emirate.
The previous record was held by a three-bedroom apartment at Bulgari Resorts and Residences, which was sold for Dh13,543 per square foot in February 2023 and with a total price tag of Dh42.9 million.
The three-bedroom duplex apartment at the Royal Atlantis was sold for Dh44 million by Olga Mannila, sales manager at Penthouse.ae, a luxury division of Metropolitan. Equipped with a private swimming pool and an array of lavish features and amenities, the duplex apartment was acquired by a first-time Russian investor.
Petri Mannila, head of luxury at Penthouse.ae, said global investors continue to exhibit a keen interest in Dubai’s exclusive real estate offerings.