Dubai Real Estate Milestone: Penthouse Rental Breaks Records at $1.19 Million

Friday, 13 December 2024

Metropolitan Premium Properties (MPP) has achieved a landmark transaction in Dubai’s real estate market, leasing a stunning penthouse at The Royal Atlantis Resort & Residences for AED4.4 million annually. Here’s a closer look at this record-breaking deal and the extraordinary property behind it:

Key Highlights

• Record-Breaking Rental:
  • AED4.4 million ($1.19 million) annual lease, the largest single-unit rental transaction in Dubai’s history.
  • Leased by a high-net-worth European family drawn by its exclusivity and premium offerings.
• Penthouse Features:
  • Spacious Living: 10,000 square feet of luxury with four bedrooms, a living/dining area, library, and exercise room.
  • Fully Furnished: Move-in ready with modern interiors and opulent furnishings.
  • Expansive Terrace: 2,717 square feet with a transparent infinity pool overlooking the city and iconic Burj Al Arab.
• World-Class Amenities:
  • Residents enjoy access to a private beach, 17 celebrity-led restaurants, a 295-foot sky-high infinity pool, entertainment venues, and boutiques.
  • A state-of-the-art fitness center and personalized hotel concierge services enhance the living experience.
• Exclusive Appeal:
  • “This penthouse is the pinnacle of residential sophistication,” said Vladimir Minaev, Luxury Property Specialist at MPP.
  • The unit offers breathtaking views of the ocean and Dubai skyline, redefining luxury living standards.

The Client Journey

• Initially considered other Palm Jumeirah units before deciding on this premium property.
• Increased their budget to secure the unparalleled lifestyle offered by The Royal Atlantis.

MPP’s Real Estate Success

• In March, Minaev closed a AED61 million resale for a four-bedroom apartment in the same development, delivering a three-fold profit for the seller.
• This year, Minaev has transacted over AED600 million, with AED135 million from resales at The Royal Atlantis.
• MPP, part of The Metropolitan Group, operates in Dubai, Abu Dhabi, and Vienna, offering top-tier real estate and consulting services.