Penthouse at Bugatti Residences by Binghatti sells for record Dh550 million

The Bugatti Residences in Business Bay has set a new record, with a penthouse selling for Dh550 million — the highest price ever achieved for such a property in both Dubai and the Middle East, signalling significant shifts within the city’s premium real estate sector.

Executed under the direction of Binghatti’s Chief Sales Officer Abdullah Binghatti, the transaction has also set a new maximum in Business Bay for price per square foot— Dh11,650. The sale underscores the city’s influence in global luxury real estate circles.

Encompassing 47,200 square feet, this penthouse crowns an elite address already associated with high levels of extravagance. Bugatti Residences by Binghatti stands as the inaugural Bugatti-branded residential offering worldwide. The development has drawn high-profile figures, including footballer Neymar Jr., tenor Andrea Bocelli, and footballer Aymeric Laporte. The project fuses elements of French art de vivre with Dubai’s Business Bay vibrancy, supplying a combination of privacy, distinctive amenities, and proximity to major attractions.

Chairman Muhammad Binghatti said, “Year to date, we have achieved the number-one position in Dubai’s real estate market, with more than 14,000 units sold, surpassing both public and private peers. As Dubai’s fastest-growing real estate player, Binghatti has now risen into the top three developers in the city, commanding a significant share of the market according to the latest Dubai Land Department figures. These results reflect the strength of our strategy and the trust our clients place in our vision.”

This Bugatti penthouse’s record-setting figure demonstrates surging interest in ultra-premium homes throughout the region, and indicates ongoing growth at the upper end of Dubai’s housing market. With signature Sky Mansion penthouses and innovative design elements, Bugatti Residences is redefining standards for exclusivity and architecture. The deal further strengthens Dubai’s identity as a preferred destination for individuals seeking prestige and contemporary living solutions.

Story by Gulf News