Real Estate

Bulgari in demand

July 2017

UAE property developer Meraas will start the handover of all the mansions and luxury units at the Bulgari Residences coming up at its man-made island Jumeirah Bay in Dubai early next year.

Situated 300 m off the coast of Jumeirah 2 area at Jumeirah Bay, the residential project is part of The Bulgari Resort & Residences Dubai.

Spread over a 1.7-million-sq-ft area and featuring lush landscaped gardens, the luxury complex is only the sixth Bulgari Hotels & Resorts property in the world.

Meraas officials say all eight penthouses and over 60 per cent of the 188 units at Bulgari Residences have been sold. One of the penthouses, a 14,346-sq-ft unit offering panoramic views of Dubai’s skyline and the ocean, was purchased by a GCC national for Dh60 million ($16.33 million). Another is now owned by a European national, with this particular 12,122-sq-ft property going for Dh50 million ($13.06 million).

The two deals mark a new record for the two most expensive penthouse transactions in Dubai to date, beating a record set in 2014 for a penthouse which sold at Dh42 million ($11.43 million), says the officials citing Reidin’s statistics.

Designed by Antonio Citterio Patricia Viel and Partners, The Bulgari Residences will be managed by the adjacent Bulgari Hotels & Resorts, and residents will enjoy an innovative luxury service concept, including a dedicated, informal, and impeccable 24-hour concierge service.

More Stories