(MENAFN- me.knightfrank) Dubai, UAE – April xxx, 2024 - Knight Frank MENA announces the sale of the most expensive apartment ever in the Downtown Dubai area. Kempinski The Boulevard duplex penthouse, listed by Knight Frank MENA, has been sold for the record price of AED 80 million.
The four-bedroom Sky Collection Penthouse, located within Kempinski The Boulevard, features a built-up area of 7,466 sq. ft. with stunning Burj Khalifa views. Boasting five bathrooms, a powder room, two fully equipped kitchens, and furnished by Fendi, this residence offers the epitome of luxury living in one of Dubai's most sought-after addresses.
Alfie Tabrez - Sales Director, Prime Residential, Dubai and Younus Karim - Principal Client Advisor were the agents that secured the deal.
This penthouse has achieved a price of AED 10,715 per sq. ft, which is 4x the average for Downtown apartments sold in Q1 of this year, at AED 2,670 psf. It is also 60% higher than the average price for branded residences in Downtown, which stands at AED 6,600 per sq. ft.
Will McKintosh – Regional Partner and Head of Residential, MENA says: “As the name suggests, ‘Downtown’ is always a prime central hub of any city, as is the case with many US cities such as New York and LA - Dubai is no different. Downtown Dubai is a popular and one of the city’s favoured locations, both for domestic and international ‘city types’ who like the lively ‘hustle and bustle’ vibe, that comes with being on the doorstep of the world’s largest shopping mall.”
Views of the iconic Burj Khalifa remain highly sought after and it comes as no surprise that we have sold this unique Kempinski-branded penthouse, which offers stunning views of the world’s tallest building. Even at AED 80 million, the property still represents very fair value particularly when compared with what you are getting in other global cities”.
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