Dubai’s upscale property market has reached a new peak, as a duplex penthouse in the Burj Khalifa was rented for Dh12 million each year. The technology and property management platform Keyper, which enabled the transaction, referred to the lease as the “highest documented yearly apartment rent in the UAE.”
The property, belonging to Karl Haddad, occupies the 87th and 88th floors of the tallest building in the world, establishing a new standard for ultra-prime leasing in Dubai and worldwide, according to the firm.
Covering over 10,000 square feet, with intentions to grow to almost 15,000 square feet, it is presently the biggest home in the tower, as stated by Keyper. The company noted that it is the sole unit featuring a private outdoor pool and the only duplex.
The penthouse features a terrace of 2,000 square feet with views of Dubai’s skyline, a master suite of 2,500 square feet, a private cinema of 1,000 square feet, and includes a spa, sauna, and gym, as per information provided by Keyper. Interiors showcase Patagonia marble, ceilings lined with Alcantara, and a 45-speaker sound system by Bang and Olufsen.
Duplex in Burj Khalifa leased for Dh12 million a year, ‘establishes UAE rental record’
Haddad states that the property is among the most architecturally distinctive residences in the tower. The transformation, achieved by consolidating several units “into one vertical estate,” took more than six years to finish, with over three years spent obtaining necessary approvals. Haddad stated that concrete slabs were drilled to put in a private internal staircase, thereby creating the sole duplex residence in the building.
“This unit is distinct from all the others in the building.” On a personal note, this solidifies my reasons for continuing to invest and work here. Dubai has created an environment where ambition is safeguarded, capital is honored, and confidence is maintained, even during challenging times.
News Source: https://www.khaleejtimes.com/uae/burj-khalifa-duplex-rented-for-dh12m-annually-sets-uae-lease-record?_refresh=true
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