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Meraas sells Bulgari penthouse for record $16.3mn

Meraas has sold a pair of penthouses at its soon to be delivered Bulgari Residences project in Dubai for a cool AED 110mn ($30mn).

A GCC national splashed AED 60mn on a 14,346-square-foot unit, shattering a record set in 2014 for a penthouse which sold for AED 42mn, according to Reidin’s statistics.

The second 12,122-square-foot penthouse also easily surpassed the previous record by selling for AED 50mn to a European buyer, Meraas said in a statement, adding that all eight penthouses and over 60 percent of the 188 units at Bulgari Residences have been sold with handover due to commence early next year.

The 15 mansions, the only Bulgari mansions in the world, range from AED 18mn to AED 51mn, and have attracted similar interest in international markets.

More than half of these spacious 3-6 bedroom, 10,504 to 29,113 square foot mansions, have been sold. Meanwhile, demand for the luxury one-to-three bedroom Bulgari apartments, which range in price from AED 4.5m to AED 13m, has seen over half of these 168 units sold.

Situated 300 metres off the coast of Jumeirah 2 area at Jumeira Bay, a man-made island by Meraas, Bulgari Residences are part of The Bulgari Resort & Residences Dubai, a first-of-its-kind master development in scale and magnitude.

Spreading over 1.7 million square feet, the luxury marine complex is only the sixth Bulgari Hotels & Resorts property in the world.

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