Dubai super-penthouse with cinema and basketball court on sale for $163m

Eight-bedroom property at Raffles The Palm Dubai Residences occupies the top three levels and rooftop of the complex

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One of the largest private penthouses in Dubai is on sale for Dh600 million ($163 million), amid continuing growth in the emirate's prime property market.

The 77,707 square feet penthouse R1 at Raffles The Palm Dubai Residences is spread across three levels and the rooftop of the property.

The eight-bedroom property includes its own indoor and outdoor cinema, gym and basketball court.

It has a spa and wellness area that includes a cryogenic room, an outdoor swimming pool, a bar and barbecue area, a mini golf course in a meditation garden, a cigar lounge and a bar offering 360-degree views of the Arabian Gulf.

It also comes with a private lift and has a dining room with a Teppanyaki kitchen that seats 20 people.

Emerald Palace Group, which owns Raffles The Palm Dubai, said the property also includes a central terrace area that can entertain hundreds of guests.

The super-penthouse – a penthouse that occupies at least 10,000 sq ft of space in a building that is about 305 metres high – also offers customisation options.

The handover term for the penthouse is 15 months from the date of booking, EPG said.

Seran Gheorghe, vice president of EPG and director of sales for Raffles The Palm Dubai Residences, described the super-penthouse as “an embodiment of architectural grandeur and exclusivity”.

The sale of the property would “mark another significant milestone in the history of Dubai real estate,” he said.

If the Super Penthouse R1 sells for Dh600 million, it would set a record as the most expensive.

In November, a five-bedroom penthouse on Palm Jumeirah sold for Dh500 million, the most expensive penthouse in Dubai.

The property at Como Residences, which is expected to be completed in the third quarter of 2027, covers about 22,000 sq ft and comes with a private lift and floor-to-ceiling windows.

Property prices in recent years have increased in Dubai, with the residential market recording its highest quarterly price rise in a decade in the third quarter of last year, according to property consultancy ValuStrat.

Prices in the emirate's prime markets are expected to rise by 5 per cent this year, driven by supply limitations and a resurgence in demand from source markets such as China and India, consultancy Knight Frank said.

Updated: January 03, 2024, 3:01 PM