Today, the Dubai real estate market witnessed an unprecedented transaction, with the sale of the most expensive apartment ever recorded, priced at 550 million dirhams in the Business Bay area.
This luxurious residence is part of the under-construction “Bugatti Residences” project, developed by Binghatti Real Estate. The unit spans an impressive 47,200 square feet, translating to a remarkable 11,650 dirhams per square foot.
With this transaction, Dubai’s real estate market has broken a record, surpassing the previous highest sale in November 2023. That sale involved a penthouse in the Palm Jumeirah area, which was sold for 500 million dirhams as part of the Como Residences project.