penthouse at jumeirah bay

The wonderful and splendid penthouse at Bulgari Resorts & Residences in Jumeirah Bay has been sold for a whooping and jaw-dropping price of 40 million AED or 10.9 million USD. The property was sold by Luxhabitat Sotheby’s International Realty.

This state-of-the-art penthouse at Jumeirah Bay is a half-floor property covering about 6,550 sq ft in the area (BUA). The penthouse offers a scenic view of the Dubai skyline and marina. Its location is a key factor in its exorbitant price tag.

Honey Deylami Alludes to a Growing Real Estate Market

According to Honey Deylami, the agent representing both the buyer and seller, the demand for exclusive and luxurious penthouses in Dubai is on the rise for the past several months. She pinpointed the area of Bulgari Resorts & Residences as the site of high demand with very less to no penthouses to meet the growing demand. She also revealed that it took less than 30 days for the deal to be finalized for the recently-sold penthouse at Jumeirah Bay.

She said, “Since 2018, YOY, the average price per square foot for a unit in Bulgari Resorts & Residences has increased by 20 per cent, based on the data by the Dubai Land Department (DLD), indicating increased buyer interest.”

Luxhabitat Sotheby’s is in the Lead

Currently, in Dubai, Luxhibitat Sotheby is leading the race in the real estate market for dealing in the most expensive properties. On top of that, they sold a mansion at Jumeirah Bay Island for 121 million AED. Next to that, they sold a dual plot for 120 million AED a couple of months ago.

Jumeirah Bay Islands is one of the key real estate areas in Dubai In this year alone, the area has recorded a sale volume of 2.03 billion AED.

Take a look at the new luxury developments that are on the way.