iPhone | iPad
Android
Huawei
During the call with the Head of the UAE Pilgrims' Affairs Office, the President praised efforts by the Kingdom of Saudi Arabia and the facilities it provides
KT APPDOWNLOAD
Dubai: Most expensive property in Burj Khalifa district sold for Dh139 million
The four-bedroom penthouse at The Lana Residences, Dorchester Collection, spans over 16,594 sqft
Private luxury property developer Omniyat Thursday said it sold a penthouse for Dh139 million ($37.8 million) in Burj Khalifa district, making it the most expensive property in the area.
The four-bedroom penthouse at the newly opened The Lana Residences, Dorchester Collection, spans over 16,594 sqft, overlooking the Marasi Marina between the Burj Khalifa District and the Dubai Design District.
Dubai’s luxury and branded market has seen massive growth over the last three years, driven by high-net-worth individuals flocking to the city.
Stay up to date with the latest news. Follow KT on WhatsApp Channels.
According to Knight Frank’s latest report, 56 properties with a value of over $25 million were sold in Dubai last year while 12 properties worth $25 million were sold in the first quarter of this year.
Dubai has been consistently ranked as the top city in terms of luxury property sales, reaching 431 last year with a value of $10 million-plus, followed by London (240), New York (211), Hong Kong (163) and Los Angeles (161).
Earlier, Omniyat’s penthouse atop One at Palm Jumeirah, Dorchester Collection, Dubai was sold for Dh102 million in 2017, becoming at the time one of the most expensive properties ever sold in the UAE. This was followed by the record-breaking sale of the Sky Palace at AVA at Palm Jumeirah, for Dh220 million in 2023.
“This is more than just a property; it’s a sanctuary in which every detail has been thoughtfully curated to evoke a sense of harmonious balance,” said Mahdi Amjad, founder and executive chairman at Omniyat.
Omniyat recently acquired Marasi Bay Marina from Business Bay LLC, the first of its kind for the company.
"The acquisition of Marasi Bay Marina represents a once-in-a-generation transformation of the area, with its prime location close to Downtown. The unique characteristics of the location will allow us to craft an exclusive, conceptual lifestyle destination unseen in Dubai," said Amjad.
ALSO READ:
More news from UAE
The full procurement cost of the two satellites is expected to reach Dh3.9 billion
Nihaan Mohammed and Omar Al Khatib excelled in studies after taking up a physical activity
The temple spokesperson highlighted the requirement for pre-registration through its booking platform
The initiative aims to address the growing concerns regarding the well-being of delivery riders, who rigorously work outside under challenging conditions
Sheikh Hamdan also took to the platform to wish residents and pilgrims on of the holiest days of the year in Islam
Those who purchase the Modesh Shopping Card will be in the running to win the huge sum in cash in the grand prize raffle
Among the difficulties Abdulla AlShehhi faces in the UAE is the lack of popularity of running as compared to other sports.