A penthouse in Dubai has just set a new record in one of the world’s busiest luxury real estate markets.
The five-bedroom penthouse sold for just over R2.5 billion and it hasn’t even been built yet.
The penthouse will be located on the top of the 71-story Como Residences tower on the exclusive Palm Jumeirah. The island is an archipelago of artificial islands famous for luxurious hotels and designer villas with their own infinity pools.
Palm Jumeirah covers an area of 1,380 acres and is home to 80,000 people.
CNN reports the Como Residences are currently under construction and Provident Estate, the Dubai agency that brokered the sale, says it anticipates completion by late 2027.
This means that the person who bought the penthouse will have to wait four years before they can live in their home, if not more.
The penthouse features a 360-degree pool and offers views of the Burj Al Arab as well as the Burj Khalifa – the world’s tallest building. The pool also offers a view of the famous Dubai Marina.
Although the estate agent won’t disclose the identity of the buyer, they said the buyer is from Eastern Europe.
Image credit: Huspy