Al Habtoor Group will hand-pick the buyer of one of Dubai's most expensive penthouses later this year.
Bids have started to come in for the four-floor penthouse in Al Habtoor City, which has a list price of $54.4 million (AED200 million), according to a Dubai-based brokerage firm exclusively handling the sale.
In April 2016, Al Habtoor Group sold the first of 12 penthouses in the ultimate collection in the $3 billion (AED11.01bn) development that overlooks Dubai Water Canal. The price of the unit was not given.
“We have received bids for the penthouse – one of the costliest penthouses in the emirate – and have forwarded the proposals to the developer,” Yash Shah, sales director, One Broker Group, told Arabian Business.
“The developer will be cherry picking the buyer,” he added.
The 30,000-square feet penthouse in Noora Tower covers the entire 70th to 73rd floor.
According to unit’s floor plan, the 70th floor occupies 10,002 square feet of space, the 71st floor covers over 5,719 square feet, the 72nd floor is spread across 7,036 square feet, while the 73rd floor has 7,231 square feet of area.
“The tower is expected to be ready by year-end and we are hoping to close the deal before the completion date,” Shah said.
However, he declined to give the number of bids or the nationalities of the bidders.
Offering a 360-degree view of Dubai’s skyline, the penthouse will have garden terraces, lap pool, open-air Jacuzzi, a gym and a sky lounge.
“Though the unit layout isn’t finalised, the buyer will be able to make changes in the layout,” Shah said.
Dubai has another $54.4m penthouse up for sale in The One at Palm by Omniyat, with the project scheduled for completion in 2018.For all the latest real estate news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.
Subscribe to Arabian Business' newsletter to receive the latest breaking news and business stories in Dubai,the UAE and the GCC straight to your inbox.