Chapter Twenty-nine: Atlantis Penthouse project seals deal worth Dh64 Million

The Royal resort and Residences on the Palm sold a penthouse worth Dh64 million, making it one of the most costly property deals in Dubai this year.

The 8,300 square feet unit was acquired by a European national, further reaffirming Dubai’s credentials as a choice spot for wealthy overseas investors interested in property assets. The four-bed penthouse is the second most expensive property in the development after the top-floor five-bed penthouse triplex, which is listed for Dh180 million. Nikita Kuznetsov, Partner at Metropolitan Group and CEO of Metropolitan Premium Properties, which brokered this property, said the deal was concluded in just four days further highlighting the confidence in Dubai’s economy and real estate market.

Built and operated by Kerzner, Atlantis The Royal Dubai on the crescent of the Palm features 231 apartments, 693 hotel rooms and 102 suites.

The Atlantis project is one of the many luxurious properties in Dubai others including;

• Grand Jumeirah palace villaat Dh140 Millions
• Frond tip mansion on the Palm Jumeirahat Dh129 Millions
• Azure-blue crystal lagoon at Dh120 Millions
• Villa-shmilla Dh105 Millions and many more

Global investors flock to invest in Dubai real estate market as it offers good infrastructure, tax-free status, new visa options and 100 per cent foreign ownership possibilities.

Analysts and real estate experts said visa reforms, successful pandemic management, and vaccination drive are among the top reasons that supported the return of foreign investors in 2021.

(Source: https://gulfnews.com/business/property/new-atlantis-project-on-dubais-palm-seals-a-dh64m-penthouse-deal-1.1636619324087)