Dubai, United Arab Emirates – The Dubai real estate market witnessed another exceptional deal, as the most expensive apartment in the emirate’s history was sold for 550 million dirhams.
This is a record number that reflects the continued strong growth in the luxury real estate market.
The deal took place within the “Bugatti Residences” project, which is being developed by Binghatti Real Estate in the Business Bay area.
It is one of the most prominent luxury residential projects that is witnessing increasing demand from investors.
The apartment is approximately 47,200 square feet in size.
That is equivalent to a price of approximately 11,650 dirhams per square foot.
Apartment breaks the record for the most expensive property in Dubai
This is to be one of the largest and most luxurious residential units offered in Dubai in recent years.
This deal is an extension of the strong demand for ultra-luxury real estate.
Which has begun to attract wealthy people from all over the world.
This deal surpasses the previous record set in November 2023.
This occurred when a penthouse apartment in Palm Jumeirah, within the COMO Residences project, was sold for 500 million dirhams.
This was considered the highest price for a residential apartment in Dubai at the time.
Continued momentum in Dubai
Real estate experts believe the new deal confirms the continued momentum in the luxury housing sector in the emirate.
This is supported by high-quality architectural projects and strategic locations that attract investors seeking privacy and luxury.
The deal also reflects investor confidence in the UAE real estate market.
Which continues to set record numbers driven by the growth of the local economy and the expansion of unique real estate projects.
