Luxury Penthouse in Dubai Sells for Record Price

A penthouse at the Bugatti Residences in Business Bay has sold for a record-breaking Dh550 million, marking the highest price ever for a property of its kind in Dubai and the Middle East. This sale, orchestrated by Binghatti's Chief Sales Officer Abdullah Binghatti, also established a new benchmark for price per square foot in Business Bay, reaching Dh11,650. The transaction highlights Dubai's growing influence in the global luxury real estate market.

Spanning 47,200 square feet, the penthouse is located in the inaugural Bugatti-branded residential development worldwide. The project has attracted prominent figures, including Neymar Jr., Andrea Bocelli, and Aymeric Laporte. Bugatti Residences by Binghatti combines French art de vivre with the dynamic atmosphere of Dubai's Business Bay, offering privacy, unique amenities, and close proximity to key attractions.

Chairman Muhammad Binghatti noted that Binghatti has become the fastest-growing real estate player in Dubai, achieving the top position in the market with over 14,000 units sold year-to-date. This success has propelled Binghatti into the top three developers in the city, reflecting the strength of their strategy and client trust. The record-setting penthouse sale underscores the increasing demand for ultra-premium homes in the region and the continued growth of Dubai's luxury housing market.