Metropolitan Premium Properties closed a whopping AED 1.7M (USD 463K) rental deal in One at Palm Jumeirah

The luxury real estate sector in Dubai has been thriving lately, and the latest rental transaction for a residence on Palm Jumeirah clearly illustrates its strong performance. Metropolitan Premium Properties secured a thumping AED 1.7M (USD 463K) yearly lease deal for in One at Palm Jumeirah by OMNIYAT. This is one of Dubai’s largest single-unit rental deals in 2023 so far.

According to Aleksandr Mylnikov, who is a sales manager at Metropolitan Premium Properties, the luxury 4,790 sq. ft penthouse is a one-of-its-kind opportunity, offering unparalleled views of the iconic palm-shaped island. The transaction was closed in the most efficient and swift way, as Aleksandr Mylnikov represented both the landlord and the tenant.

The ultra-luxury 22-storey complex of One at Palm Jumeirah, managed by Dorchester Collection, offers just 94 super-luxury 3 and 4-bedroom residences, which combine the utmost privacy and exceptional hotel services. Residents of the exclusive development by OMNIYAT can enjoy an in-house spa and cinema, a fully-equipped gym, outdoor infinity pools, a private jetty and much more. One at Palm Jumeirah was designed by the world-renowned company SOMA Architects, headquartered in New York.

As stated by Mylnikov, Metropolitan Premium Properties is witnessing an increased interest in upscale properties, which overlook the Arabian Gulf and the Dubai skyline. The high demand for luxury real estate in Dubai is attributed to an inflow of HNWIs and millionaires, who are buying and renting units at record prices. In addition, there is currently a lack of high-end properties supply on the market, which affects the competitive environment.

As reported by Penthouse.ae; the ultra-luxury real estate division of Metropolitan Group, Palm Jumeirah is the top-performing neighbourhood in terms of the elite property market. In 2022, this area accounted for 30% of local transactions in the AED 20M+ (USD 5,4M+) segment.

Another major achievement by Metropolitan Premium Properties in 2023 is the sale of an uber-luxe villa designed by SAOTA and Kelly Hoppen for AED 90.5M (USD 25M) in Tilal Al Ghaf. This is the most expensive deal in the upcoming community so far and the biggest single-unit transaction in the history of Metropolitan Premium Properties.