Downtown Dubai's Most Expensive Property Sold for AED 80m

The four-bedroom Sky Collection Penthouse, located within Kempinski The Boulevard, features a built-up area of 7,466 sq ft

Real estate consultancy Knight Frank MENA announced 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.

 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.

Will McKintosh, Regional Partner and Head of Residential, Knight Frank MENA

Younus Karim - Principal Client Advisor was the agent that secured this deal. This penthouse has achieved a price of AED 10,715 per sq ft, which is four times 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 said, “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”.

The sale of the Kempinski The Boulevard duplex penthouse surpasses the previous record set in 2022, when a five-bedroom apartment in the Burj Khalifa was sold for AED 73 million. This is further indication that Dubai continues to be one of the most sought-after cities for super-prime real estate globally.