The most expensive penthouse in Dubai sells for £95 million

A luxurious property that has earned the title of the most expensive penthouse in Dubai has been sold for a staggering $120 million (£95 million).

The five-bedroom penthouse, covering almost 22,000 square feet, was sold for 500 million UAE dirhams, setting a new record in one of the world's busiest luxury real estate markets.

Situated atop a 71-story tower known as Como Residences, the yet-to-be-built apartment is located on the exclusive Palm Jumeirah, an archipelago of artificial islands renowned for its designer villas, upscale hotels, and beach clubs with infinity pools.

The Como Residences are currently under construction, and Provident Estate, the Dubai agency that facilitated the sale, anticipates completion by late 2027. This means the penthouse buyer will have to wait at least three more years before enjoying their purchase.

The previous record for a penthouse sale in Dubai dates back just a few months when an apartment on the top floor of the Marsa Al Arab Hotel sold for 420 million UAE dirhams (approximately $114 million).

According to Provident Estate, the Como Residences penthouse ranks as the third most expensive in the world, following Penthouse D at One Hyde Park in London, priced at $237 million, and the Odeon Tower Penthouse in Monaco, priced at $440 million.

The Como Residences penthouse features a 360-degree sky pool and is strategically located in Dubai with views of the Burj Al Arab, Burj Khalifa (the world's tallest building), and Dubai Marina, as explained by Sam Horani, an associate partner at Provident Estate.

Horani stated that the agency would not disclose the identity of the buyer but added that "they are from Eastern Europe."