The Palm Jumeirah area’s status as one of the most attractive real estate investment locations in Dubai has been reinforced. This follows the sale of the world’s third most expensive penthouse, valued at 500 million AED, on November 17 of last year. This status has been maintained until the end of the second week of October this year (approximately one year).
A survey by “Emarat Al Youm,” based on indicators from the “Dubai REST” platform of the Dubai Land Department, showed that Palm Jumeirah experienced a record-breaking period. It achieved sales amounting to 14.32 billion AED, representing 3.6% of the total sales in the emirate this year, which have reached 401.37 billion AED so far. The survey indicated that 1,179 properties were sold from that date until the end of the second week of October, covering an area of 238,610 square meters.
According to the survey, Palm Jumeirah ranked fourth among the most attractive areas for real estate purchases in Dubai during that period. Business Bay topped the list with sales worth 21.64 billion AED, followed by Jumeirah Village Circle with 15.53 billion AED, and then the Burj Khalifa area with 14.51 billion AED.
In a historic deal announced on November 17 last year, Provident Estate brokered the sale of the Como Residences penthouse from Nakheel for 500 million AED.
According to the records of the Dubai Land Department, the penthouse, located in the heart of Palm Jumeirah, officially earned the title of the most expensive penthouse ever built and sold in Dubai.
In September, Nakheel Properties awarded the construction contract for the Como Residences tower project on Palm Jumeirah to ALEC Engineering and Contracting. The contract is valued at 1.8 billion AED.
The residential tower is scheduled for completion in the second quarter of 2028. It will consist of 75 floors with a total height exceeding 300 meters and will feature 81 residential units.
It is worth noting that penthouses are distinctive residential units located on the top floors of a building, often featuring extensive outdoor spaces such as balconies or terraces.
