Penthouse.ae’s astonishing sales

Dubai’s luxury real estate sector is booming as Penthouse.ae reveals its record-breaking sales in March, signalling a strong start to the year. Specialising in serving Ultra High Net Worth Individuals (UHNWIs), Penthouse.ae saw a 100% surge in Q1 sales compared to the same period last year, nearly matching its total sales from the first half of 2023. To meet this increasing demand, Penthouse.ae has expanded its team to include 40 agents.

Dubai has witnessed a surge in transactions exceeding AED 36.7M (USD 10M), from just a few in 2020 to 419 last year. This trend underscores Dubai’s appeal as a top destination for luxury property investments. Buyers are attracted to the city’s exceptional lifestyle, safety, security, and investor-friendly regulations, as well as some of the world’s highest real estate returns.

Palm Jumeirah, Jumeirah Beach Residence (JBR), Downtown Dubai, World Islands, Palm Jebel Ali and DIFC are among the most desirable areas for luxury properties. For example, prices of luxury villas in Jumeirah Islands rose significantly by 65% last year. There has been a noticeable uptick in interest from European, American, and Central and South American buyers. Waterfront properties and designer residences continue to be highly sought after.

Penthouse.ae’s success is not limited to just Dubai. The agency has also realised notable sales in Ras Al Khaimah and Abu Dhabi’s Ramhan Island, further solidifying its dominance in the regional luxury real estate market. The agency’s excellence is further recognised through its prestigious awards, including ‘Best International Real Estate Agency – Single Office – International’ and ‘Best Real Estate Agency – Marketing – Arabia’ at the 2023-24 International Property Awards.