Most Expensive Apartments in Dubai: Prices, Locations, and Characteristics

According to the Dubai Land department, the demand for real estate in the UAE skyrocketed after the COVID restrictions of 2021. The cost grows along with the demand: as of the beginning of 2023, the average price per sq. m grew by about 33%. This has to do with the fact that the authorities encourage the development of business and attract investments to their country.

Moreover, the demand for real estate in the United Arab Emirates among Russians remains strong. Bloomberg reported that Russians were the most prominent purchasers of residential properties in Dubai in 2022. They even acquired upscale apartments, both conventional and serviced. Here is a comprehensive guide to the elite real estate market in the UAE.

• An Overview of Elite Apartments in Dubai
• Downtown Dubai
• The Dubai Marina
• The Business Bay
• Palm Jumeirah

An Overview of Elite Apartments in Dubai

Property prices are significantly influenced by location. While Dubai is an esteemed city in its own right, certain neighborhoods stand out as particularly upscale. Let's delve into these neighborhoods and explore the apartments they offer.

Downtown Dubai

Downtown Dubai serves as the epicenter of Arabian tourism. Here, you can discover iconic attractions such as the world's tallest building, the 828-meter-high Burj Khalifa, the Dubai Mall shopping center, the Dubai Fountain, and a host of other remarkable architectural wonders.

Downtown's most expensive apartment was sold to an undisclosed buyer for 317,000,000 AED. We know only that it was located in the Burj Khalifa.

Adjacent to the Burj Khalifa, you'll find a two-story apartment spanning 1,100 sq. m, meticulously designed by one of the world's leading architects, Tom Wright. This opulent residence boasts five bedrooms and six bathrooms, while panoramic windows envelop the entire property, offering breathtaking views of the city and the coastline. The interior is adorned exclusively with natural materials, including wood and marble. This extraordinary abode is priced at 35,000,000 AED.

The Address Downtown building is currently undergoing reconstruction and is set to become the residence of one of the most expansive penthouses in the UAE. Spanning 650 sq. m, this penthouse features four bedrooms, six bathrooms, and two additional rooms for staff or assistance. Residents enjoy exclusive amenities including a private elevator, multiple pools, a hot tub, a sauna, and a barbecue zone. This extraordinary property is available for 35,000,000 AED.

The Dubai Marina

Dubai Marina is a rapidly developing waterfront neighborhood situated along an artificial gulf in the western part of the city. It is renowned for its exclusivity, boasting one of the world's largest marinas for yachts. Private investors have been actively involved in the area's development since 2002, leading to the introduction of tram lines and metro stations for improved connectivity. Plans are underway to erect an additional 200 skyscrapers within the Dubai Marina, with some of them soaring to heights exceeding 300 meters.

In the same neighborhood, within the La Rive residential complex, you'll discover an impressive five-story penthouse. Covering a vast area of 1,300 sq. m, its standout feature is the breathtaking 360° view of Palm Jumeirah. This penthouse offers four bedrooms, six bathrooms, accommodations for assistance, and a driver. The residence is equipped with a state-of-the-art smart home system, and the building itself boasts a gym and a pool for residents. The starting price for this remarkable property is 20,000,000 AED.

The Cayan Tower stands tall at 72 floors, offering generously sized apartments. Designed by the renowned American architecture firm, Skidmore, Owings & Merrill LLP (SOM), who are also responsible for iconic structures like the Burj Khalifa and other renowned buildings in the UAE. What sets the Cayan Tower apart is its unique feature: each floor is rotated 1.2 degrees compared to the one below. Additionally, the tower is outfitted with eight elevators and encompasses seven underground levels providing parking space for up to 600 cars. The average price for an apartment here is 42,000,000 AED.

You can acquire a penthouse in the Marinascape complex for 24,000,000 AED. As the owner, you will enjoy a property featuring three bedrooms, five bathrooms, an office, a storage room, and a fully equipped kitchen. The complex offers a temperature-controlled pool, concierge services, valet parking, and the convenience of a private elevator.

The Business Bay

Dubai's bustling business district lies to the south of the city center. Significant development in this area commenced in 2008, offering an extensive selection of premium-class real estate options that have been particularly appealing to local representatives of large and medium-sized enterprises. This expansive district spans 5,900,000 square meters.

The neighborhood's most expensive penthouses are in Habtoor City:

• A luxurious four-story penthouse of premium quality features a living room on the first floor, bedrooms, a sauna, a pool, and a hot tub on the upper floors, as well as a private terrace that leads to a landscaped garden. This exceptional penthouse is priced at 30,000,000 AED.
• This grand four-story penthouse spans 2,700 sq. m and boasts seven bedrooms, a lounge bar, a home theater, and a private pool. The kitchen is furnished with granite countertops and features top-of-the-line built-in appliances from leading companies. This opulent residence is priced at 42,000,000 AED.

The 35-floor Volante Tower offers spacious 900 sq. m apartments featuring five bedrooms and exquisite designer furniture. Prices for these residences start at 40,000,000 AED. For those seeking even more space, there are expansive six-bedroom apartments that occupy entire floors. These residences come equipped with storage rooms, home offices, terraces, laundry facilities, and accommodations for personnel. The panoramic windows offer breathtaking views of both the Burj Khalifa and the waterfront.

Palm Jumeirah

Palm Jumeirah, created by the Nakheel construction company, stands as the world's largest artificial island, designed in the shape of palm fronds. Its unique geography and prime location have made it a magnet for media personalities from across the globe.

The most expensive penthouse on Palm Jumeirah occupies the top floor of the Atlantis The Royal Resort & Residences, with a staggering price tag of nearly 180,000,000 AED. This luxurious penthouse spans three floors and features five bedrooms, six bathrooms, along with a private terrace offering mesmerizing views of the Arabian Sea. With a generous floor area of 2,300 sq. m, it is truly a remarkable residence.

Situated on the island, the Palme Couture residential complex offers a lavish two-story penthouse spanning 1,700 square meters with seven bedrooms, available for 65,000,000 AED. Additionally, the exclusive Muraba Residences complex presents apartments starting at 25,000,000 AED, providing 600 sq. m of space adorned with panoramic windows and elegant marble staircases. These apartments offer six bedrooms, four bathrooms, an open-plan kitchen, and accommodations for staff. 

In a Nutshell

The surge in demand for upscale real estate in Dubai is the primary driver behind the rising property prices. This can be attributed to the influx of prominent global business figures into the country. As per an analysis conducted by New World Wealth, nearly 2,000 millionaires relocated to the UAE in 2021 alone. With the number of affluent residents continuing to rise, one can anticipate further increases in luxury property prices in the Emirates.

Cover photo: palmecoutureresidences.ae