Jumeirah Marsa Al Arab sets Dubai record with $115 million penthouse sale

The Jumeirah Group, a luxury hotel chain owned by the Emirati state, has confirmed the sale of its penthouse in the Jumeirah Marsa Al Arab for a staggering $115 million. This sale has set a new record, making it the most expensive apartment ever sold in Dubai.

The Jumeirah Marsa Al Arab, designed by architect Shaun Killa, is a highly anticipated addition to Dubai's landscape, and it is set to open in the fourth quarter of 2023. The hotel is known for its unique "superyacht-inspired luxury" concept and offers 387 rooms and suites, 82 lavish residences, and an 82-berth superyacht marina.

The penthouse that was sold occupies an impressive 27,000 square feet, including 13,000 square feet of outdoor space and a private pool. Along with this exceptional penthouse, the private sale also included three other penthouse apartments and 17 additional residences, further adding to the luxury appeal of the project.

This record-breaking sale reflects the ever-expanding luxury real estate market in Dubai. The city currently leads with the highest concentration of branded residences, and experts project a 72% growth in this market segment until 2030.

The Jumeirah Group's CEO, Katerina Giannouka, expressed excitement about the new residential concepts being introduced through the Jumeirah Marsa Al Arab project. With its opulent offerings and high-end amenities, the hotel is poised to attract affluent buyers seeking exclusive and luxurious living experiences in Dubai.

As Dubai continues to establish itself as a global hub for luxury real estate and hospitality, developments like Jumeirah Marsa Al Arab are expected to fuel the city's growth and allure to high net worth individuals and investors from around the world.

Next (The Leela Group of Hotels launches The Leela Ashtamudi, A Raviz Hotel, in Kerela)

Jumeirah Marsa Al Arab sets Dubai record with $115 million penthouse sale

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