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Dubai penthouse with cinema on sale for Dh600 million

- NEIL HALLIGAN

One of the largest private penthouses in Dubai is on sale for Dh600 million ($163 million), amid continuing growth in the emirate’s prime property market.

The 77,707-square-foot penthouse R1 at Raffles The Palm Dubai Residences is spread across three levels and the rooftop of the property.

The eight-bedroom property includes its own indoor and outdoor cinema, gym and basketball court. It has a spa and wellness area that includes a cryogenic room, an outdoor swimming pool, a barbecue area, a mini golf course in a meditation garden and a cigar lounge.

It also comes with a private lift and has a dining room with a Teppanyaki kitchen that seats 20 people.

Emerald Palace Group, which owns Raffles The Palm Dubai, said the property also includes a central terrace area that can entertain hundreds of guests.

The super-penthouse – a penthouse that occupies at least 10,000 square feet of space in a 305-metre building – also offers customisat­ion options. The handover term for the penthouse is 15 months from the date of booking, EPG said.

Seran Gheorghe, vice president of EPG and director of sales for Raffles The Palm Dubai Residences, described the super-penthouse as “an embodiment of architectu­ral grandeur and exclusivit­y”. The sale of the property would “mark another significan­t milestone in the history of Dubai real estate”, he said.

If the super-penthouse R1 sells for Dh600 million, it would set a record as the most expensive. In November, a five-bedroom penthouse on Palm Jumeirah sold for Dh500 million, the most expensive penthouse in Dubai.

The property at Como Residences, which is expected to be completed in the third quarter of 2027, covers about 22,000 square feet and comes with a private lift and floor-toceiling windows.

Property prices in recent years have increased in Dubai, with the residentia­l market recording its highest quarterly price rise in a decade in the third quarter of last year, according to property consultanc­y ValuStrat.

Prices in the emirate’s prime markets are expected to rise by 5 per cent this year, driven by supply limitation­s and a resurgence in demand from source markets such as China and India, consultanc­y Knight Frank said.

The eight-bedroom, 77,707-square-foot property is spread across three levels

 ?? Emerald Palace Group ?? If the super-penthouse R1 at Raffles The Palm Dubai Residences sells for its asking price, it would set a record as the most expensive in the emirate
Emerald Palace Group If the super-penthouse R1 at Raffles The Palm Dubai Residences sells for its asking price, it would set a record as the most expensive in the emirate

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