One of the key themes of Cityscape Global recently held in Dubai was affordable housing projects, as developers look to cater to a wider range of buyers in a stagnant market.
But in spite of the greater focus on smaller apartments aimed at lower income residents, and villa schemes on the outskirts of the city, we musn't forget what Dubai does best - and that is enormous penthouses in sky-high towers.
For those in possession of the kind of money that buys such luxury, an opportunity has arisen to own a property at the top of one of the best-known towers in the city, complete with a view which would have visitors leaving with pangs of envy.
The 59th floor of the 296 metre-high Emirates Crown in Dubai Marina is split into two penthouses, one of which has come on the market with LuxuryProperty.com, with a price point of Dh17.5 million.
As you'd expect at such a cost, this isn't your typical high-rise apartment, but whereas you may expect glitz and glamour and evidence of a rich lifestyle, there is actually something quite different.
It takes open plan to the extreme, with what is regarded as one of the largest living rooms in the area, stretching 100 feet across with a depth of 30 feet. The sense of space is extended by the 13ft floor to ceiling windows running around the property, giving the feeling that you are floating above the world.
The wooden floors covering the 7,600 sq ft living area ensure the vast open spaces and neutral furnishings don't feel bland.
There's four en-suite bedrooms plus two additional staff quarters, while the kitchen comes with custom-built cabinetry and matching counters, plus a full appliance package courtesy of Miele that includes, aside from the usual fixtures, a steamer, fryer and teppanyaki grill.
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For those who can deal with the height, there's a balcony with views of the Palm Jumeirah, Bluewaters Island and out into the Arabian Gulf. You can also sit in the bath and look out across Dubai Marina and beyond.
The building comes with the usual amenities such as swimming pool, Jacuzzi, gym, squash courts and landscaped gardens. And if you have the cash for a fleet of cars as well as one of the most sought-after apartments in Dubai, there's five covered parking spaces and a driver's studio.
Property prices in Dubai continued to fall in the third quarter, albeit at an increased pace compared to the first and second quarters, according to report issued yesterday by Chestertons.
It said average apartment and villa sales prices were down 6 per cent from the previous quarter, with sales prices in Dubai Marina at Dh1,192 per square foot in Q3, compared to Dh1,320 in the second quarter.
