An apartment in Dubai’s Bulgari Resort and Residences in Jumeirah Bay Island has sold for a city record AED13,543 ($3,687m) per square foot.
The three-bedroom apartment sold for AED42,920,862 ($11.7m), making it the most expensive property by area in the city.
Dubai property record
The sale was overseen by Dubai real estate firm, Driven Properties.
The same firm was behind the previous price per square foot record. That was a AED12,624 apartment, also in Jumeirah Bay.
Abdullah Alajaji, founder and CEO of Driven Properties, said: “Dubai is currently the hottest market in the world, with the residential property segment projected to see tremendous growth this year.
“This sale is only the beginning; we expect Dubai to remain hugely attractive to both residents and those abroad looking for the right investment in a geopolitically safe and secure city”.
The deal was brokered by Driven Properties partners Lina Allaoa and Kianoush Darban.
Allaoa said: “We never intend to break records when helping our clients find their home on Jumeirah Bay Island, but supply is limited, and the community is absolutely unique in the one-of-a-kind lifestyle it offers.
“From impeccable design and finishing to the perfectly secluded location only minutes away from all major landmarks, Bulgari Resort and Residences offers the best in waterfront living, with five-star amenities, world-class restaurants, and the stunning marina on its doorstep”.
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