Dubai hits new record with Middle East’s most expensive penthouse sale at about $150M

Dubai set a new world record for the real estate market on Friday, with the most expensive penthouse sale in the Middle East for 550 million dirhams (about $150 million) at the Bugatti Residences, Anadolu reports. The transaction, concluded by Binghatti Chief Sales Officer Abdullah Binghatti, marks the highest price per square foot ever recorded in Dubai’s Business Bay, reaching 11,650 dirhams ($3,172) per square foot. In a statement, Binghatti Chairman Muhammad Binghatti said the company has ranked first in Dubai’s real estate market so far this year, with more than 14,000 units sold, surpassing both public and private competitors. “As Dubai’s fastest-growing real estate player, Binghatti has now risen into the top three developers in the city, commanding a […]