New record for Dubai: Middle East’s most expensive penthouse sold for Dh550 million
Highest price per square foot ever recorded in Business Bay confirmed
DUBAI – Dubai’s luxury property market has set a new benchmark with the sale of the Middle East’s most expensive penthouse, purchased for Dh550 million at Bugatti Residences by Binghatti.
The record transaction cements Dubai’s standing as a global hub for ultra-prime real estate.
The milestone has also established the highest price per square foot ever achieved in Business Bay, marking a defining moment for the city’s high-end property sector.
Most expensive penthouse
The penthouse, spanning a vast 47,200 sq.ft, represents a world-leading achievement for branded residential properties. The deal was concluded by Binghatti’s Chief Sales Officer, Abdullah Binghatti, and reached Dh11,650 per sq.ft, the highest figure recorded in Business Bay to date.
Chairman Muhammad Binghatti highlighted the company’s strong performance in 2025, stating that more than 14,000 units have been sold so far this year. He noted that Binghatti has now secured the number-one position in Dubai’s real estate market in terms of units sold and has risen into the city’s top three developers by overall market share, according to recent Dubai Land Department data.
Ultra-luxury demand
The Bugatti-branded development continues to attract global high-net-worth individuals seeking elevated lifestyle offerings. Among its notable residents are football star Neymar Jr., Italian tenor Andrea Bocelli, and professional footballer Aymeric Laporte. Their involvement underscores the project’s international appeal and reinforces its status within Dubai’s expanding collection of luxury branded residences.
Bugatti Residences combines French art de vivre with Dubai’s urban dynamism, delivering tailored privacy, bespoke amenities, and world-first design features. The development includes signature Sky Mansion penthouses crafted for buyers seeking exclusivity and architectural innovation at the highest level.
Prime location
Positioned in Business Bay, one of Dubai’s most connected districts, the development offers immediate proximity to key business centres, landmark destinations, and waterfront attractions. Its strategic location continues to drive demand from global investors, many of whom are drawn to Dubai’s stable economic outlook, strong regulatory framework, and rising luxury property values.
The record sale highlights ongoing interest in Dubai’s upper-tier market, where international demand remains consistent and prime residences continue to outperform in terms of capital appreciation and transaction activity.
Developer’s milestone
Binghatti Holding Ltd. is recognised as one of the UAE’s fastest-growing developers, with a portfolio exceeding 80 projects valued at over Dh70 billion. The company has established a strong presence in the branded residences segment through collaborations with Bugatti, Mercedes-Benz, and Jacob & Co.
Binghatti’s financial strength is reflected in its credit ratings of ‘BB-’ from Fitch and ‘Ba3’ from Moody’s, underscoring investor confidence in its long-term growth strategy. To date, the company has delivered more than 12,000 residential units across Dubai, ranging from accessible communities to ultra-luxury offerings that set fresh benchmarks for design quality and architectural identity.