Metropolitan Premium Closes Highest Apartment Lease in Dubai History

Company closes AED 4.4 million penthouse lease in The Royal Atlantis on Palm Jumeirah

Metropolitan Premium Properties (MPP) – a full-service real estate agency and the Metropolitan Group’s flagship property company, recently closed the biggest single-unit annual rental deal in Dubai history, a AED 4.4m penthouse in The Royal Atlantis Resort & Residences on Palm Jumeirah, one of the most sought after and exclusive residential projects in Dubai.

The 10,000 square foot, four-bedroom penthouse includes a living/dining area, a library, an exercise room and comes fully furnished. The 2,717 square foot terrace boasts a transparent infinity pool with panoramic views of the city and the Burj Al Arab. The tenants, a HNW European family who are returning to live and work in Dubai after a stay abroad, selected the unique penthouse for its high-end amenities, the hotel concierge service it provides and the fact that it was turnkey and ready to move in. Residents of The Royal Atlantis Resort & Residences can additionally benefit from a private beach, 17 celebrity-led restaurants, a 295 foot sky-high infinity pool, entertainment venues, various high-end boutiques and a state-of-the-art fitness centre.

This penthouse is the pinnacle of residential sophistication and one of the most coveted homes in the city, as it sets new standards of excellence in design, amenities and living space with spectacular views of the ocean and Dubai skyline.

Vladimir Minaev, Luxury Property Specialist at Metropolitan Premium Properties

Vladimir Minaev, Luxury Property Specialist at Metropolitan Premium Properties, said: “This penthouse is the pinnacle of residential sophistication and one of the most coveted homes in the city, as it sets new standards of excellence in design, amenities and living space with spectacular views of the ocean and Dubai skyline. The client was looking at other units on the Palm, however, they didn’t find anything to their liking so decided to increase their initial budget and settle on the penthouse, which has the hotel amenities they were looking for and is also brand new. It is undoubtedly the most unique penthouse in Dubai as there is nothing that compares. I really believed in the project from day one and advised my clients, such as the owner of the penthouse, to invest at an early stage. He now has multiple units in the development and has seen his investments significantly increase in value.”

In March this year, Vladimir Minaev sold a four-bedroom apartment for AED 61m which, to date, represents the highest resale transaction in The Royal Atlantis Resort & Residences. This resulted in a three-fold profit for the owner who purchased the unit during the pandemic. Minaev has sold over AED 600M in real estate this year including AED 135m in re-sale transactions at The Royal Atlantis Resort & Residences.

In addition to MPP in Dubai the Metropolitan Group also includes Metropolitan Homes,  Metropolitan Capital Real Estate in Abu Dhabi, Luxury Immobilien GmbH, a real estate agency in Vienna and Metropolitan Consulting FZE, providing personal and business legal services in the UAE.

For more Dubai real estate news, subscribe to the REM TIMES newsletter