Unprecedented Record Set As Jumeirah Bay Island Four-Bedroom Apartment Achieves New Heights

A lavish penthouse with four bedrooms in the Bulgari Resort and Residences in Dubai just sold for an incredible Dh122 million. That Sets a new benchmark for the priciest ready penthouse sold in the city. The penthouse spans an entire floor, covering an area of 12,113 square feet. Indicating that the demand for opulent properties, especially penthouses, remains strong among wealthy buyers. Driven Properties completed the property transaction. Jumeirah Bay Island, also dubbed “Billionaire’s Island,” has observed a tremendous upsurge in interest from the ultra-rich, particularly in the aftermath of the Covid-19 pandemic, with property rates on the artificial island skyrocketing.

In a remarkable feat, a three-bedroom apartment situated in the prestigious Bulgari Resort and Residences. That recently achieved a groundbreaking sale price of Dh13543 per square foot, setting a new record for the highest price per square foot ever recorded in Dubai. With a staggering price tag of Dh42.9 million, this exceptional transaction surpassed the previous record held by Bulgari Resort and Residences itself. Where an apartment sold for Dh12624 per square foot, totaling Dh40 million, last year.

The continued momentum in Dubai’s real estate market displays its status as one of the most vibrant and sought-after markets globally, exhibiting no signs of deceleration. Bulgari Resort and Residences, in particular, has consistently outperformed other areas. Drawing substantial interest for its unmatched privacy, exceptional location, and impeccable quality. Abdullah Alajaji, the Founder and CEO of Driven Properties, expressed, “Dubai once again proves its position as a thriving market, with Bulgari Resort and Residences standing out for all the right reasons.”

Leila Shugri, the agent responsible for the sale, confidently asserts, “The recent sale not only reaffirms the flourishing condition of Dubai’s property market. But also leaves no room for doubt regarding its ongoing growth. Every passing day highlights the evident expansion. Making this transaction just the beginning of a series of remarkable deals in this prime location.”