In a recent record-breaking real estate transaction, a top-floor apartment located on Jumeirah Palm Island in Dubai was sold for a staggering AED 500 million (approximately USD 136 million), making it one of the most expensive residential properties ever sold.

The Como Residences top-floor apartment spans 21,949 square feet, featuring five bedrooms, a home automation system, and a private elevator, providing residents with the utmost privacy and convenience.

One of the most impressive features is the panoramic view of Dubai's magnificent skyline visible through floor-to-ceiling windows, offering unparalleled visual enjoyment for the residents.

Notably, the transaction was completed by Sam Horani, Deputy Partner at Provident Estate. Speaking about the deal, he stated, "The Como Residences top-floor apartment is not just a residence; it's a declaration of ultimate luxury and uniqueness. Its sale marks a historic moment in the Dubai real estate landscape, solidifying its position as a symbol of generational luxury."

Previously, the record for the most expensive top-floor apartment was held by Marsa Al Arab, sold by Luxhabitat Sotheby's International for AED 420 million. Additionally, if the top-floor apartment in the aerial tower of Binghatti's Bugatti Residences, valued at AED 750 million, is quickly snapped up by buyers, the AED 500 million record will be broken. These figures vividly illustrate the high competition and allure of Dubai's ultra-luxury real estate market.

Dubai's high-end real estate market has consistently attracted attention from global high-net-worth individuals, drawing millionaires and billionaires from Europe, East Asia, and Gulf countries with strong demand for ultra-luxury properties.

According to data from global real estate consultancy Knight Frank, Dubai's residential market for properties priced above ten million dollars continues to strengthen, with 88 sales recorded in the first quarter of 2023.

In 2022, Dubai recorded 219 transactions exceeding the $10 million mark, making it the fourth busiest luxury housing market globally. It is anticipated that 2023 will be another record-breaking year for this segment of the market.

The Como Residences top-floor apartment not only represents the prosperity of Dubai's real estate market but also secures its place as the third most expensive top-floor apartment globally.

London's Hyde Park One Hyde Park D Penthouse comes in second at a price of USD 237 million (AED 870 million), while Monaco's Odeon Tower Penthouse tops the list at USD 440 million (AED 1.61 billion).

With a surge of high-net-worth individuals flocking to the Emirate of Dubai, unprecedented demand is witnessed in Dubai's ultra-luxury real estate market, making purchases exceeding AED 100 million increasingly common in the post-pandemic era. This phenomenon not only reflects Dubai's allure but also underscores the confidence and interest of global elites in Dubai as an investment destination.