Penthouse sold for record $112m in Dubai

In Dubai, a penthouse was sold for $112m – setting a record in the history of real estate transactions in the emirate, The National reports

Bulgari Lighthouse

The publication reads that the area of the apartment on top of the 28-floor Bulgari Lighthouse complex in the Jumeirah area exceeds 3.5 thousand sq. m. It has nine bedrooms and a swimming pool.

Last year, Dubai registered a sharp increase in housing prices. Moreover, the demand for luxury real estate also increased significantly: 219 houses worth more than $10m each were sold.

It is worth noting that the real estate sector accounts for more than a third of Dubai's economy, and experts predict a further growth in 2023.