Dubai, UAE — Dubai developer Binghatti has sold the Middle East’s most expensive penthouse for AED 550 million ($150 million) at Bugatti Residences in Business Bay. The 47,200 sq ft unit achieved a record AED 11,650 per sq ft, the highest in the district.
Record Sale Details
The transaction, closed by Chief Sales Officer Abdullah Binghatti, marks a milestone for Dubai’s luxury market. Bugatti Residences, the world’s first Bugatti-branded project, draws global elites including Neymar Jr., Andrea Bocelli, and Aymeric Laporte as buyers. Located in Business Bay’s core, it offers proximity to business hubs and landmarks with bespoke privacy features.
Chairman Muhammad Binghatti states “Year to date, we have achieved the number-one position in Dubai’s real estate market, with more than 14,000 units sold, surpassing both public and private peers.”
He added that as Dubai’s fastest-growing real estate player, Binghatti has now risen into the top three developers in the city, commanding a significant share of the market according to the latest Dubai Land Department figures. These results reflect the strength of our strategy and the trust our clients place in our vision.”
Dubai Luxury Boom Context
Dubai’s ultra-luxury segment hit records in 2025, with H1 sales of AED 10 million-plus properties reaching 3,731 units, up 62.7% year-on-year per reports. Knight Frank data shows Q3 ultra-luxury deals doubling, with prime prices at AED 3,767 psf, up 8.5%. Business Bay averages AED 1,450-2,360 psf, underscoring the penthouse outlier. Off-plan and branded residences fuel mid-luxury demand amid visa reforms.
Also read: Binghatti Prices $500m Oversubscribed Green Sukuk
Indian investors, now Dubai’s top foreign buyers with AED 35 billion invested in 2024, favor zero-tax yields of 6-9% and Golden Visas for AED 2 million+ properties. Digital tools like Dubai Land Department’s remote transactions ease entry.
Investor Implications
This sale signals sustained appetite for trophy assets, boosting Business Bay’s prestige amid 2025’s 27% transaction rise to 94,500 units in H1. For Indian high-net-worth individuals, it highlights diversification via Golden Visas and yields, though rising prices demand due diligence on limited supply. Binghatti’s volume lead—12,000+ units—positions it for mid-luxury growth.
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