Source: Luxury Lifestyle Mag
The property boasts incredible panoramic views of the Arabian Gulf, Palm Jumeirah and the Ras Al Khairmah mountains.
The world’s highest residential property – which has been described as a ‘once in a lifetime opportunity purchase’ – has gone on the market in Dubai for a staggering £40 million (Dh180 million).
The penthouse which sits proudly on the 108th floor of the Burj Khalifa – also the world’s tallest building at 828 meters (2,717 ft) – named the ‘Sky Palace’ is a 21,000 square foot apartment spread across two floors and even has its own lift and a dozen dedicated parking spaces.
The property boasts incredible panoramic views of the Arabian Gulf, Palm Jumeirah and the Ras Al Khairmah mountains and stands to be ‘one of the world’s most eye-catching homes’, according to Asad Khan, CEO of Invest Dubai Real Estate (IDRE), who are handling the exclusive sale of the penthouse.
At 460 metres above the ground, the apartment is currently a ‘shell’ and in need of around £4 million (Dh20) of investment to transform it into one of the most luxurious ‘trophy’ properties in one of the world’s most recognisable buildings.
AI technology has been utilised to develop images and provide a glimpse of how the penthouse could look once the refit is completed which Mr Khan believes says would mean it has a resale value of more than £90 million.
Mr Khan said: “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 in the world. This makes it the ultimate trophy property on the planet right now.
“The views from the penthouse are simply incredible and this is a once in a lifetime opportunity to purchase an apartment on one of the globe’s most iconic buildings. I have visited the Sky Palace many times and every time it takes my breath away.
“The property is currently on the market for £40 million and the fact it’s an empty shell means any potential buyers can design and shape the penthouse exactly how they wish.
“However, the Dubai real estate market is booming right now so it is also a fantastic, and unique, investment opportunity too.
“We have seen similar properties in New York, Hong Kong and Toyko being listed from £200 million and upwards so expect Sky Palace to fetch for more than £90m minimum once it has been transformed inside.”
Residents would have access to all the Burj Khalifa facilities which includes a private lounge on the 123rd floor, outdoor jacuzzis and pools on the 43rd and 76th floors as well as a 25-metre swimming pool and two premier spas. The new owners will also have access to private gated gardens, a children’s play area, a choice of three gyms, tennis courts and the Armani Hotel’s facilities.
The top 40 floors of the Burj Khalifa are currently commercial offices while the other 900 apartments on the remaining floors are 99 per cent occupied.
Mr Khan, of IDRE who handles a number of exclusive trophy assets and off-market properties, added: “IDRE are the exclusive brokers for the Sky Palace which makes this a very exciting proposition for us. We’ve already received lots of interest in the property and cannot wait to see who eventually purchases what will be one of the most eye-catching homes in the world.”
