Luxury penthouse apartment with pool and 360 degree ocean views becomes Dubai’s most expensive property by size ever as it sells for £88.5million

• The flat’s price per square foot is over £3,250, as much as 25x the UK average

A penthouse apartment overlooking Dubai beach has sold for a massive £88.5 million – the most expensive property by size ever sold in the millionaires’ playground city.

The deal has gone through for the flagship apartment at the Jumeirah Marsa Al Arab beachfront development before building work has even been completed.

And with a price per square foot of over £3,250, the apartment – which has its own private swimming pool – has broken records as the most expensive apartment sold in Dubai to date.

The penthouse spans over 27,000 square feet, with just over 13,000 square feet of outdoor living space – including that pool – and has 360 degree views of the city and ocean.

The £90m penthouse in the Marsa Al Arab hotel, pictured centre, currently under construction

Image shows the view of the Burj Al Arab from the window, a famous Dubai landmark

The nearly-£90m penthouse is the biggest and tallest of four in the development, which also includes a further 17 luxury flats.

Katerina Giannouka, Chief Executive Officer of Jumeirah Group, said: ‘Our residences at Jumeirah Marsa Al Arab are clearly an attractive proposition for our investor audience and we are delighted to bring such unique residential concepts that redefine the art of luxury living to Dubai’s landscape.’

The nautical-inspired hotel is set to open later this year next to the wave-shaped Jumeirah Beach Hotel and sailboat-inspired Burj Al Arab. 

It takes its design inspiration from an avant-garde super yacht completing trilogy of super buildings on the Jumeirah shorefront.

The Marsa Al Arab Hotel will have 386 rooms and suites, 4 penthouses, apart from 83 hotel apartment suites set alongside private gardens.

Dubai’s soaring property market, which has a high proportion of luxury homes, is projected to grow by 73 percent by the end at the decade, according to figures cited by Jumeirah.

Details of the buyer have not been revealed.

The apartment is the biggest and tallest of four in the upcoming development in Dubai

Residents at the Marsa Al Arab Hotel will have 386 rooms and suites to choose from

Promotional shot shows some of the fantastic views residents can enjoy… for just £88.5m

The penthouse, sold by Luxhabitat Sotheby’s International Reality, is located on the highest 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, with plans to build a luxury 82-berth marina and boardwalk. 

Source: Read Full Article