The Penthouse Market in Dubai Business
As we all know, the market for Real Estate in Dubai is diverse. From middle class to the upper, there is a property that one can afford. It is common for us to hear about people renting or buying a property in affordable communities like Silicon Oasis, Emirates Living, and DIP. But did it ever cross your mind where the premium market of Dubai owns their properties? When it comes to luxury living, Dubai offers a world-class lifestyle like no other.
Dubai has a special market for the ultra-premium. Yes! You read that right! The premium classes of Dubai live in ultra-premium penthouses. And just last year, two of the most expensive units were sold! One of the units cost Dh102 million, with an area of 29,800 sq. ft. while the other unit with 14,000 sq. ft. area was sold at around Dh60 million.
Believe it or not, the demands for these ultra-premium properties are growing. Thus, developers are urged to keep up with the above average kind of penthouses. You can easily say that living in this kind of property is a status of luxury. As Dubai continues to progress, more entrepreneurs and young professionals are able to reach the state of luxury. This opens up a continually growing market for the ultra-premium penthouse.
The way penthouses are designed nowadays has changed as well. In the past, it was already understood that whatever is left at the top of the building is the penthouse. Because of it, the design and layout of the traditional penthouse were inefficient. But since the emergence of the premium market for penthouse, developers are spending more to keep up with its growing demand.
Among the top picks for premium penthouses are Burj Khalifa, with a price of Dh102 million, One Palm in Palm Jumeirah which costs Dh93.33 million, and the Dh45 million worth Cayan Tower in Dubai Marina.
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