A luxurious penthouse at The Royal Atlantis Resort and Residences on Palm Jumeirah has been rented for an astonishing Dh4.4 million, making it one of the biggest single-unit rental deals in Dubai’s history. According to a leading real estate agency, this could be the most expensive apartment lease the city has ever seen.
Spanning 10,000 square feet, the stunning four-bedroom penthouse features a spacious living and dining area, a private library, and a fully equipped exercise room. The property is fully furnished and boasts a 2,700-square-foot terrace complete with a transparent infinity pool that offers breathtaking views of the Dubai skyline and Burj Al Arab.
Exclusive Tenant and Property Highlights
The tenant, a wealthy European family, returned to Dubai after living abroad. They chose the penthouse for its world-class amenities, hotel-style concierge services, and its turnkey, move-in-ready status, as confirmed by Metropolitan Premium Properties, the agency that handled the deal.
Residents of The Royal Atlantis Resort and Residences enjoy exclusive benefits like access to a private beach, 17 celebrity-run restaurants, a 295-foot infinity pool in the sky, and a cutting-edge fitness center.
Tenant’s Journey to the Perfect Home
“The family had previously lived in Dubai before moving to Europe but decided to return because they loved the city,” shared Vladimir Minaev, a luxury property expert at Metropolitan Premium Properties. While waiting for an off-plan property they purchased to be completed, they initially rented another home.
“After three months, they realized it didn’t meet their expectations,” Minaev explained. “They wanted a higher level of amenities and service, so they decided to upgrade to this penthouse.”
Investing in Dubai’s Luxury Market
Minaev described the penthouse as one of Dubai’s most unique properties. “Nothing compares to it,” he said. The owner of this penthouse, who invested early in the project, now owns multiple units and has seen a significant rise in their value.
Minaev noted that many high-net-worth families often rent properties for a year or two after relocating to Dubai. “Around 50% of them prefer to test the market, explore different areas, and compare projects before making a long-term purchase decision,” he added.
