Source: Arabian Business
The listing comes as Dubai’s property market experiences strong growth, particularly in the ultra-luxury segment
The world’s highest residential property has hit the market in Dubai’s Burj Khalifa, testing the appetite for ultra-luxury real estate in the emirate as prices continue to surge in the tax-free haven.
The 21,000-square-foot (1,951-square-metre) penthouse, dubbed “Sky Palace,” occupies the 108th floor of the world’s tallest building and is being offered as a shell unit for $51 million (AED187.3 million), according to Asad Khan, CEO of Invest Dubai Real Estate (IDRE), which has the exclusive listing.
The two-floor apartment sits 460 metres (1,509 feet) above ground and requires an additional $4.9 million (AED18.3 million) investment in renovations. Once completed, the property could fetch more than $112 million (AED411.6 million), Khan said in an interview, citing comparable trophy properties in other global cities.
“The Sky Palace at the Burj Khalifa is the highest and most spectacular residential property in the world on top of the world’s tallest tower,” Khan told Arabian Business. “This makes it the ultimate trophy property on the planet right now.”
Luxury listing in Dubai
The listing comes as Dubai’s luxury real estate market continues to attract ultra-high-net-worth individuals, particularly from Europe, Russia, Asia, and Africa, drawn by the emirate’s tax-free status and the recent introduction of long-term residency visas.
The shell unit offers potential buyers the opportunity to customise the space according to their preferences, with AI-generated renderings showing possible interior configurations. The property includes a private elevator and 12 dedicated parking spaces, along with panoramic views of the Arabian Gulf, Palm Jumeirah, and the Ras Al Khaimah mountains.
Future residents will have access to exclusive Burj Khalifa amenities, including a private lounge on the 123rd floor, outdoor jacuzzis and pools on the 43rd and 76th floors, and a 25-meter swimming pool. The building also features two premier spas, private gated gardens, three gyms, tennis courts, and access to the Armani Hotel’s facilities.
Khan believes the property’s valuation potential is supported by comparable trophy properties in other global financial centers. “We have seen similar properties in New York, Hong Kong and Tokyo being listed from £200 million (AED 914.8 million) and upwards,” he said.
However, renovating the space presents unique challenges due to its extreme height. The construction process will require specialised expertise in high-altitude work, including the transportation of materials and equipment via specialised high-rise lifts or potentially helicopters. The renovation must also comply with Burj Khalifa’s sophisticated structural engineering requirements, which are designed to withstand wind forces and the vertical load of the building’s height.
The Burj Khalifa’s top 40 floors are occupied by commercial offices, while the remaining residential portion maintains a 99 per cent occupancy rate across its 900 apartments, highlighting the sustained demand for luxury properties in Dubai’s landmark building.
The listing comes as Dubai’s property market experiences strong growth, particularly in the ultra-luxury segment. The city’s tax-free environment stands in contrast to high-tax jurisdictions like New York, Hong Kong, and Tokyo, making it increasingly attractive to international buyers seeking both investment opportunities and primary residences.
“The Dubai real estate market is booming right now so it is also a fantastic, and unique, investment opportunity,” Khan said, noting that IDRE has already received significant interest in the property.
