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One Palm penthouse sold for $20m is Dubai's second most expensive

Developer Omniyat says Palm Jumeirah unit's sale sets the tone for One Palm's third penthouse to be sold at a record price

One Palm's second penthouse has been sold.
One Palm's second penthouse has been sold.

The second most expensive penthouse in Dubai – part of real estate developer Omniyat’s One Palm project on Palm Jumeirah – has been sold for $19.8m (AED73m) to a private buyer.

Omniyat said the sale followed its 2017 record of selling Dubai's most expensive penthouse for $27.8m (AED102m), which was also a part of One Palm.

Omniyat developed One Palm [image: supplied].

The latest home to be sold is One Palm’s second penthouse, and in a statement, Omniyat said enquiries were being received for its third penthouse within the Palm Jumeirah project, which is expected to be priced between the values of its two predecessors. 

EXCLUSIVE: How One Palm was designed and constructed

Spanning 1,858m2, One Palm’s penthouses feature landscaped rooftop terraces, and pools designed by Vladimir Djurovic.

Landscaped terraces are part of the penthouse [image: supplied].

Commenting on the development, Omniyat’s executive chairman and chief executive officer, Mahdi Amjad, said: “Considering the modern lifestyle and high standards of living that the emirate offers, Dubai continues to cement itself as the most sought-after residential location of choice, with multi-millionaires shifting their home base to the country.”

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Latest Issue

Construction Week - Issue 746
Jul 20, 2019