4-bedroom luxury penthouse at Dubai’s Palm Jumeirah leased in one of most expensive deals ever

4-bedroom luxury penthouse at Dubai’s Palm Jumeirah leased in one of most expensive deals ever

UAE - Luxury properties in Dubai are in high demand, a fact made evident with the latest leased deal for a residential property at Palm Jumeirah.

A four-bedroom penthouse at the iconic man-made island secured a whopping Dh1.7 million rental deal for a year, as the tenant does not want to miss out on the Omniyat One on Palm Jumeirah, one of the most exclusive residential projects in Dubai.

Metropolitan Premium Properties (MPP), a full-service real estate agency and the Metropolitan Group’s flagship property company, closed this one of the biggest single-unit rental deals in Dubai this year.

In November, a villa on Palm Jumeirah was rented on a six-month basis for Dh4 million. On a year-long tenancy this would equate to a record-breaking Dh8 million, surpassing the previous record of Dh7.5 million set by a villa in Emirates Hills in 2021.

Speedy transaction

Aleksandr Mylnikov, sales manager at Metropolitan Premium Properties, said 4,790-sqft penthouse was one-of-its-kind option available at the building.

"The four-bedroom penthouse was in high demand despite the high-rental fee because it offers incredible views at Palm Jumeirah. The transaction was concluded quickly as I represented both the landlord and the tenant," he said.

One at Palm Jumeirah is located at the track of