Metropolitan Premium Properties (MPP) has completed the largest single-unit annual rental transaction in Dubai‘s history, leasing a AED4.4 million penthouse at The Royal Atlantis Resort & Residences.
The 10,000 square foot four-bedroom penthouse, located on Palm Jumeirah, features a living/dining area, library, exercise room, and full furnishings.
Its 2,717 square foot terrace includes a transparent infinity pool with views of the city and Burj Al Arab.
Metropolitan Premium Properties closes largest Dubai rental deal
A high-net-worth European family chose the property for its premium amenities, hotel concierge service, and move-in readiness.
The Royal Atlantis Resort & Residences offers residents additional facilities including a private beach, 17 celebrity-led restaurants, a 295-foot sky-high infinity pool, entertainment venues, boutiques, and a fitness centre.
“This penthouse is the pinnacle of residential sophistication and one of the most coveted homes in the city, as it sets new standards of excellence in design, amenities and living space with spectacular views of the ocean and Dubai skyline,” Vladimir Minaev, Luxury Property Specialist at MPP said.
The clients initially explored other Palm Jumeirah units before increasing their budget to secure this unique property, Minaev said, adding that he had recommended the development to clients from its early stages.
In March, Minaev sold a four-bedroom apartment for AED61 million, representing the highest resale transaction in the development. This sale generated a three-fold profit for the owner who purchased during the pandemic.
This year, Minaev has sold over AED600 million in real estate, including AED135 million in re-sale transactions at The Royal Atlantis Resort & Residences.
The Metropolitan Group, which includes MPP, operates across multiple locations including Dubai, Abu Dhabi, and Vienna, offering real estate and consulting services.
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