Luxury penthouse highlights strong demand for ultra-premium homes.
Dubai: Dubai’s property market recorded a landmark deal on Monday with the sale of an off-plan residential apartment for more than Dh500 million, highlighting continued strong demand for luxury real estate in the emirate.
Data from the Dubai Land Department’s Dubai REST app showed the unit was sold for Dh501.1 million, making it the second most expensive apartment transaction in Dubai’s history.
The apartment, located in the Business Bay area within the “Maybach 6 – Tower A” project by Binghatti Properties, spans 1,325.16 square feet and was sold at Dh378,144 per square foot.
The transaction highlights continued demand for luxury properties, reinforcing Dubai’s position as a preferred destination for global investors.
Mohammed Binghatti, chairman of Binghatti Properties, said the developer is seeing rising interest from high-profile international buyers. He added that negotiations are currently under way with a prominent global artist for the purchase of a luxury penthouse in Downtown Dubai.
He said the unit could rank among the highest-priced properties in the area, with the deal expected to be finalised within days.
The transaction follows a record Dh550 million apartment sale in late 2025 at Bugatti Residences by Binghatti, surpassing a Dh500 million deal recorded in 2023 at Como Residences.
Dubai’s property market has continued to show strong momentum, with total transactions exceeding Dh4.94 billion on the day, including more than Dh3.55 billion in sales, reflecting sustained investor confidence in the emirate’s economic outlook.
