Credit By: Khaleej Times
A lavish apartment along the Dubai Water Canal sold for an incredible $50 million (Dh183 million), marking a significant milestone for the Dubai real estate market. One of the most costly penthouse acquisitions in Dubai’s history, the penthouse, a component of the ultra-luxury residential project “One Canal,” was successfully sold by AHS Properties to the family office of a well-known European billionaire.
A Signature Partnership and Quick Sales
This historic transaction comes soon after the One Canal project was launched in November 2022 with a noteworthy partnership between AHS Properties and Fendi Casa. The project saw quick sales, with a gross development value of $450 million. This penthouse sale was the last item of inventory that was available.
The Magnificence of the Penthouse at One Canal
The penthouse at One Canal, which is more than 30,000 square feet, is a genuine “sky mansion,” blending four rooftop units into one breathtaking living area. High ceilings, two private pools, a dedicated gym, a steam room, a sauna, an exclusive rooftop garden with a pool and two parking spaces are just a few of the facilities this opulent apartment offers. The penthouse’s occupants are treated to expansive views that include the Dubai Canal, the Burj Khalifa, and the Burj Al Arab.
A Combination of City Living and Luxury
The One Canal project, designed under the Fendi brand, skillfully combines Dubai’s dynamic cityscape with the roominess of an opulent mansion. One Canal’s architectural masterpiece was designed by world-renowned architect Shaun Killa, best known for his work on the astonishing Museum of the Future. Hirsch Bedner Associates was tasked with overseeing the interior design of the building.
Boosting the Luxury Real Estate Scene in Dubai
The massive sale to a European buyer, according to AHS Properties’ founder and CEO Abbas Sajwani, is evidence of the luxury real estate market in Dubai’s continuing appeal. He emphasised the industry’s potential for steady expansion, noting that high-net-worth individuals are continuously drawn to the UAE and want to settle in Dubai. AHS Properties is becoming recognised as a leader in Dubai’s luxury real estate market, serving as a lighthouse for investors worldwide with its objective to redefine luxury. Sajwani believes that the One Canal penthouse is the epitome of abundant living.
AHS Properties has quickly become a leader in the ultra-luxury real estate market since its founding in November 2021. The company has become a well-known property developer by acquiring, refurbishing, and reselling homes in desirable areas like Emirates Hills and Palm Jumeirah.
AHS Properties unveiled the low-rise residential structure “One Crescent” on the Palm Jumeirah in January. Killa Design is the architectural firm that created the Museum of the Future.
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