Dubai: At Dh13,543 a square foot, a three-bedroom apartment at Bulgari Resort and Residences has achieved the highest ‘per square foot price’ for a property sold in Dubai. The unit, located on Jumeira Bay island, was sold for Dh42.92 million.

This beats the previous record of Dh12,624 psf, also for a unit on Jumeirah Bay. Both deals were overseen by Driven Properties.

“This transaction only stands to underline how the ultra-luxury segment of the market is out-performing all others,” says Kianoush Darban, Associate Partner at Driven Properties, who adds that there are no signs of the Dubai property market or Jumeira Bay area slowing down on demand. “There are very few projects in Dubai that cater to Ultra-High-Net-Worth individuals, and Bulgari Resort and Residences is certainly one of them.”

More to follow…