The Emerald Palace Group, the owners of Raffles The Palm Dubai, has announced that the Super Penthouse R1 at Raffles The Palm Dubai Residences, which extends to almost 80,000 sq. ft, is now up for sale at AED 600 million, or USD 163 million.
With a built-up area of 77,707 sq. ft, The Emerald Palace Group’s Super Penthouse R1 has claimed the title of the largest private residence put up for sale in Dubai real estate history.
Extending over three levels atop Raffles The Palm Dubai Residences, the record-setting property was created in conjunction with the renowned design company Yodezeen and houses eight meticulously designed bedrooms, a dining table which is so large it can hold twenty people, an extraordinary cinema area, a bar as well as many other extraordinary amenities.
The design team has given the penthouse a contemporary and elegant design, and it has a private elevator, which opens at the Grand Saloon on the first level.
The Grand Saloon is the heart of the property. It has a vast sitting area with direct access to the central terrace, making it an ideal area to entertain many guests, who will no doubt be captivated by the incredible views. In addition, the space includes a grandiose dining room, where the vast dining table is located, along with a Teppanyaki kitchen.
Standout features of Super Penthouse R1 include:
- A top-notch gym
- Spa and wellness area, which includes a Cryogenic room
- A Hay relaxation room
- An outdoor swimming pool, bar and barbecue area
- Minigolf, which is set in a meditation garden
- Indoor/outdoor cinema lounge
- A basketball court
- Ten parking lots
- A unique cigar lounge and a bar offering a 360-degree view of the Arabian Gulf
The Outlook for Property in Dubai
Some reports have stated that luxury residential properties in Dubai could be set for a significant rise in price over the next few years, making the Emirate one of the world’s best-performing real estate markets.[1] In Dubai’s prime market sector (which includes Palm Jumeirah), prices are expected to rise by 5 per cent, whilst prices in the non-prime market could experience a rise of 3.5 per cent.[2]
For those who want to create their own unique stamp in Dubai, Super Penthouse R1 at Raffles The Palm Dubai Residences offers customisation options for buyers, where they can choose additional features to tailor-make their preferred style of paradise in the heart of Dubai.
The handover term for this exceptional penthouse is said to be 15 months from the date of booking.
References:
- [1] https://www.dubaihousing-ae.com/post/demand-for-bigger-dubai-realestate-by-affluent-buyers/
- [2] https://whatson.ae/2023/11/property-prices-in-dubai-set-to-grow-by-up-to-5-per-cent-in-2024/
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