Source: Gulf Property
The world’s highest residential property – a penthouse on the 108th floor of the world’s tallest tower Burj Khalifa – has gone on the market in Dubai for a whopping £40million (Dh180 million). The penthouse, named Sky Palace, is a 21,000 square foot apartment spread across two floors with a lift and a dozen dedicated parking spaces.
At 460 metres above the ground, the apartment is currently a ‘shell’ and in need of around £4 million (Dh20 million) of investment to transform it into one of the most luxurious ‘trophy’ properties in one of the world’s most recognisable buildings. Once furnished, the property can fetch a resale value of more than £90 million (Dh411 million), according to Asad Khan, CEO of Invest Dubai Real Estate (IDRE), the brokerage firm that is handling the exclusive sale of the penthouse.
“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,” he said.
“The property is currently on the market for £40million 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.”
AI technology has been utilised to develop images and provide a glimpse of how the penthouse could look once the refit is completed.
Mr. Asad further added, “We have seen similar properties in New York, Hong Kong, and Toyko being listed from £200m and upwards so expect Sky Palace to fetch for more than £90m minimum once it has been transformed inside.”
Sky Palace offers views of the Arabian Gulf, Palm Jumeirah, and the Ras Al Khairmah mountains. 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.
