Weekly insights Vol 2
AMARANTA OPEN HOUSE EVENT
BY DUBAI PROPERTIES
3 PENTHOUSE SALE RECORD BREAKING IN DUBAI REAL ESTATE
Omniyat sells mega property to GCC buyer at its signature One Palm development
The Dh 100 million and the Dh 102 million sales transactions are starting to show up in Dubai’s real estate radar.
Omniyat Properties managed the latter by selling off a top-floor penthouse at its One Palm all-prestige tower on the Palm.
It was sold to a GCC buyer after an extended series of negotiations, and now lays claim to the most expensive penthouse sold in Dubai.
Big-ticket purchases
In the last four or five months, the frequency of big-ticket purchases is on the upswing, according to market sources, with the various Meraas’ islands featuring prominently.
The freehold-designated tower at Al Habtoor City also has an apartment unit that aims to be the most expensive in Dubai.
Omniyat Properties is angling for more from the One Palm. “We potentially have one or two more penthouses to be sold on the top floor,” said Mohammad Hmeid, director of sales & marketing at Omniyat, which currently is working on a full roster of projects, including giving the final touches to The Opus, designed by the late Zaha Hadid.
“Discussions with these type of buyers willing to spend that kind of money do not get over after one round of talks,” said Hmeid. “For the penthouse we sold, we will create a lap pool, special terraces and have special fitouts.
“As for the rest of the floor, we will go by where demand takes us — that should decide whether it should be two more to sell or one.”
At the time of the One Palm launch, Omniyat did toy with the thought of selling the entire top floor to one buyer.
The 100-metre-tall-by-100-metre-wide structure is due for a 2019 completion date.
For the present, it is to feature two show homes, one from a Japanese boutique designer and the other a British firm that had projects such as One Hyde Park on its resume.
“We will soon appoint a hotel operator to manage this property as a serviced apartment,” said Hmeid.
Interestingly enough, the Palm is starting to see a lot more of high-rises. Nakheel launched the Palm Beach Residences on Monday and will also have the Palm 360 twin-tower to keep it company.
Both sales could start soon, a top Nakheel official aid Monday. Nakheel is also building The Palm Mall.
Source by Omniyat Development
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ROYAL ATLANTIS RECORDS AED 64 MILLION PENTHOUSE SALE.
Dubai: However, Atlantis The Royal resort & Residences on the Palm is still doing quite well – considering that there is an apartment to be sold there for Dh180 million. One of Dubai’s most expensive property deals this year was the purchase of a penthouse there for Dh64 million.
This 8,300 square feet unit was bought by a European national, further confirming Dubai’s appeal to wealthy overseas investors looking to invest in real estate. This four-bed penthouse is the second most expensive property in the development after the top-floor five-bedroom penthouse triplex, which is listed for Dh180 million.
“It is a good example of how HNWI (high networth individuals) still consider Dubai the number one destination for property investment,” said Nikita Kuznetsov, Partner at Metropolitan Group and CEO of Metropolitan Premium Properties, which brokered it. “The deal was concluded in just four days further highlighting the confidence in Dubai’s economy and real estate market.
“We have seen strong demand for luxury properties especially from international buyers primarily from the CIS, the UK and other parts of Europe including France, Germany and Austria.”
Among Metropolitan’s biggest transactions were two penthouses at the W Residence, Palm Jumeirah, which sold for Dh102 million to the same buyer, in addition to a Royal Atlantis Garden Villa for Dh44 million, and one in IL Primo Downtown for Dh42 million to a European buyer.
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