Dubai: 'Serious talks' underway with buyers for Dh750 million-most-expensive penthouse sale

Private developer Binghatti Properties is talking to potential buyers for the sale of the most expensive penthouse in Dubai, its chief executive said.

Priced at Dh750 million, Bugatti Residences by Binghatti's Sky Mansion Penthouse went on sale for a record price in mid-2023, becoming the costliest penthouse to hit Dubai's market.

"We've had very serious talks, and there is a lot of interest. We are very keen for this to remain the most exclusive and high-priced penthouse in the market," Muhammad Binghatti, CEO of Binghatti Properties, told Khaleej Times in an interview recently.

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The 46-story ultra-luxury development, Bugatti Residences by Binghatti, features Sky Mansion Penthouses spanning the top 11 floors. These penthouses allow owners to drive their super-luxury vehicles directly to their apartments, as each penthouse occupies an entire floor.

In November 2023, a Dh500 million worth of penthouse was snapped up in Palm Jumeirah, setting the record for the costliest unit in this category to be sold in the emirate. Spread over 21,949 square feet, the five-bedroom Como Residences penthouse is equipped with a home automation system and exclusive access via a private elevator.

In January, Dubai's largest penthouse was listed for sale at Dh600 million. The Super Penthouse R1 comprises the top three levels and the rooftop of the Raffles The Palm Dubai Residences and spans a total built-up area of 77,707 square feet.

Recently, Binghatti Properties launched another branded residence Mercedes-Benz Places, becoming its third branded project after Bugatti Residences by Binghatti’s and Burj Binghatti Jacob & Co.

The project also houses a duplex and a triplex. Muhammad refused to disclose the price of the three-floor triplex in the newly-launched Mercedes-Benz Place.

“The prices for the triplex are upon request. These are off-market units. We haven’t placed a price tag on it, but we are receiving interest as it is a very exclusive unit,” Muhammad said.

Real estate industry executives said that the triplex will be one of the most expensive penthouses – if not the costliest – in the market.

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