Penthouses on The Palm: A valued asset for the high net-worth buyer
Penthouses are the epitome of luxury when it comes to property. And when they enjoy a vantage position on The Palm Jumeirah, then they are a class apart. Dubai’s iconic landmark is dotted with several signature penthouses in luxury developments, such as the One at Palm Jumeirah, W residences, Palm Couture, Royal Atlantis and Serenia. Penthouses usually hold their values over time.
“The luxury segment is more stable than mass market since supply here is limited and owners are wealthy and wouldn’t just sell for any given price. On The Palm, prices per square feet for penthouses range between Dh3,000 and Dh4,000 per square feet.”
Limited Supply
Cavendish Maxwell says in Dubai the most in-demand prime locations for penthouses include the Palm Jumeirah, Dubai Marina, Downtown Dubai, and Jumeirah Bay. She says, such properties, "are usually customised upon purchase to fit a buyer’s taste.”
There is a sustained demand for newly-built penthouses with modern architecture and unique features, agree experts. Large terraces, an indoor or outdoor swimming pool or jacuzzi, a wine cellar, extremely large bedrooms and living spaces with great views, maximised glazing in bedrooms and living areas, private gym, duplexes or even triplexes can fetch higher values. “These properties do well as second homes or a regional home for frequent HNWIs travellers who are based outside of town,” says Gouri.
The penthouse collection at One at Palm Jumeirah has drawn significant global interest and hype in the last couple of years from a broad demographic of high-profile individuals looking for opulent, luxury properties. Located as the first plot on the famous man-made Palm Jumeirah, the penthouses have an untouched, unobstructed city and sea views. Coupled with this, they are designed by prestigious interior design firms in London and Japan and managed by the super exclusive Dorchester Collection.
An Exclusive Offering
Talking about the exclusivity of the penthouses at One at Palm Jumeirah, “We have ensured that none of our penthouses are identical, making them even more unique while maintaining the quality of the design and materials used to design each one. One of our extravagant penthouses caters for a 20-meter pool that enjoys a spectacular marina view and a Burj Al Arab view to the north.”
One at Palm Jumeirah
One Palm is Omniyat Properties’ flagship project and is located on plot number one on Dubai’s most premium swathe of real estate, The Palm Jumeirah. The 25-storey luxury tower is a completely re-imagined residential property with a unique approach to elegance and exclusivity. It has its own private beach and jetty and consists of only 94 apartments.