A luxury penthouse apartment with a pool and 360-degree sea views has become Dubai’s most expensive property by size as it sells for £88.5 million.
Flats cost more than £3,250 per square foot, more than 25x the UK average
A penthouse apartment overlooking a Dubai beach has sold for a whopping £88.5 million – the most expensive property by size ever sold in the millionaires’ playground city.
The deal for the flagship apartment at the Jumeirah Marsa Al Arab Beachfront development has gone ahead of construction.
And at more than £3,250 per square foot, the apartment – which has its own private swimming pool – broke the record as the most expensive apartment ever sold in Dubai.
The penthouse spans 27,000 square feet, with just over 13,000 square feet of outdoor living space — including that pool — and 360-degree views of the city and ocean.
The £90m penthouse at the Marsa Al Arab Hotel, pictured centre, is currently under construction
The photo shows a view of the Burj Al Arab, a famous Dubai landmark, from the window
The nearly £90m penthouse is the largest and tallest of the four in the development, which includes a further 17 luxury flats.
Katerina Zianuka, Chief Executive Officer of Jumeirah Group, said: ‘Our residences at Jumeirah Marsa Al Arab are clearly an attractive proposition for our investment audience and we are delighted to bring such a unique residential concept that redefines the art of luxury living in the Dubai landscape. ‘
The nautical-inspired hotel will open later this year alongside the wave-shaped Jumeirah Beach Hotel and the sailing-inspired Burj Al Arab.
It takes its design inspiration from an avant-garde super yacht, completing the trilogy of superbuildings on the coast of Jumeirah.
Marsa Al Arab Hotel will have 386 rooms and suites, 4 penthouses, 83 hotel apartment suites and private gardens.
Dubai’s booming property market, which has a high proportion of luxury homes, is projected to grow by 73 percent by the end of the decade, according to figures cited by Jumeirah.
Details of the buyer have not been disclosed.
The apartment is the largest and tallest of four in the upcoming development in Dubai
Marsa Al Arab Hotel will have 386 rooms and suites for residents to choose from
Promotional shots show some of the wonderful views that residents can enjoy… just £88.5m
The penthouse, sold by Luxhabitat Sotheby’s International Realty, is located on the top floor of the hotel.
Marsa Al Arab is expected to open later this year.
The hotel is part of a larger development effort in the area, which includes plans to build a luxury 82-berth marina and boardwalk.