Dubai: Meet the man who sold ultra-luxury penthouse for Dh420 million

Dubai: Meet the man who sold ultra-luxury penthouse for Dh420 million

Driven by inflow of HNWIs, high-end property market is witnessing unprecedented growth, with record deals signed for residential apartments, villas

Published: Wed 24 May 2023, 6:00 AM Last updated: Wed 24 May 2023, 6:26 AM

Selling a property is not everyone’s cup of tea, particularly ultra-luxury units which require passion, dedication and above all local expertise and global connections.

In the highly-competitive market of Dubai, brokers must possess excellent communication skills, market knowledge, networking abilities, negotiation skills and strong relationship with clients.

Dr Taieser Al Saati, executive partner at Luxhabitat Sotheby's International Realty, embodies all these traits that helped the Saudi national to make his mark in Dubai’s luxury property and hold the record for selling the most expensive penthouse in Marsa Al Arab, Jumeirah.

With years of experience in the GCC real estate market under his belt, the young and dynamic Al Saati sold an ultra-luxury penthouse in Marsa Al Arab Hotel for a record Dh420 million, surpassing the previous record sale of Dh410-million penthouse in Bvlgari Lighthouse, Jumeirah Bay Island, in February 2023.

Driven by an inflow of high-net-worth individuals, the high-end property market has been witnessing unprecedented growth and demand in the post-pandemic period, with record deals being signed in the residential apartment