The luxury real estate market in Dubai continues to thrive, with Dubai-based property firm Darfin successfully closing the sale of the last two penthouse units at the Bulgari Lighthouse located on Jumeirah Bay Island for a total exceeding 282 million dirhams. This transaction further solidifies the emirate’s position as a leading luxury residential market, showcasing both strength and resilience on a global scale. The first penthouse unit, featuring five bedrooms and spanning 11,657 square feet, was sold for 146.6 million dirhams, while the second unit commanded a price of 136.25 million dirhams.
Designed by the renowned architectural firm Antonio Citterio Patricia Viel, the Bulgari Lighthouse project beautifully marries modern architecture with Mediterranean tranquility.
The exterior design is inspired by coral reefs, providing each residential unit with a sense of privacy and serenity, complemented by uninterrupted panoramic views of the Arabian Gulf and the iconic Dubai skyline.
The deal was facilitated by Darfin’s agents, Lina Aloua and Kianoush Darban, founders of “The Private Collection,” who specialize in luxury properties. This dynamic duo is recognized for their record-setting achievements in the region, from attaining the highest price per square foot to selling the most expensive villa on Jumeirah Bay Island.
Their success in this sale underscores the robust and adaptable nature of Dubai’s real estate market. Last April, Dubai recorded a landmark 62.4 billion dirhams in real estate transactions, marking a remarkable 95% year-over-year increase, largely driven by its luxury waterfront properties. Analysts anticipate that high-value transactions will continue to set new benchmarks through 2025, amidst ongoing constraints in the supply of luxury real estate.