Over the past two years, the Dubai property market has seen a significant surge in high-end rental properties priced in multi-million dirhams. These ultra-luxury rentals are now an indispensable feature of the city’s real estate landscape-roughly complemented by high-value property sales that regularly exceed Dh100 million. As the real estate market in Dubai continues to change and shift, it is clear that high-end rentals are in increasing demand for properties located in prime areas, such as the Palm Jumeirah.
PC: Gulf News
The Dh4m-a-year letting of a 7,540sq ft penthouse in the iconic One at Palm Jumeirah tower has secured it a position among the most expensive rental residential properties to be found in Dubai. The deal cements the tower as one of the best addresses in the city for those seeking a luxury like nowhere else.
One at Palm Jumeirah: The Benchmark in Luxury
The One at Palm Jumeirah has long been synonymous with luxury and exclusivity. It has gone on to break sales records year in year out, especially with penthouses being some of the most in-demand properties in Dubai. Located on the world-famous Palm Jumeirah, the tower boasts views that are nothing short of breathtaking, richly resourceful accessories, and design culled from the cutting edge. It is the ideal proposition for both buyers and renters.
Known for its glorious historical dwellings, the prestigious Dorchester Collection manages and maintains this building with a level of service that ensures its residents enjoy the best in luxury living. Already synonymous with managing some of the world’s most exclusive hotels and residences, One at Palm Jumeirah adds another level of sophistication. Developed by Omniyat, the company behind exciting innovative architecturally striking projects, One at Palm Jumeirah is set to exemplify its prestige and desirability.
A Client-Centric Approach to Property
Vasileios Kandris is the Senior Property Consultant at Dacha Real Estate, and he brokered the Dh4 million rental deal. Discussing the success of the transaction, Kandris accentuated the importance of understanding and aligning with specific needs of the clients. “It’s crucial to listen and understand the client’s needs to provide them with the best options, rather than focusing on what suits us as brokers,” he explained. “It starts with every little thing having to be aligned with their vision.” This focus on the client reveals an upward spiral of professionalism and personalized service that is increasingly vital in Dubai’s luxury real estate market.
The Growing Appeal of Dubai’s Luxury Market
This recent deal serves as another example of the enduring appeal of Dubai’s luxury real estate market. Properties like those in One at Palm Jumeirah continue to attract global attention, with high-net-worth individuals seeking residences that offer a combination of exclusivity, privacy, and world-class amenities. The rise in high-value rental agreements further reflects the city’s position as a global hub for affluent buyers and renters, reinforcing Dubai’s reputation as a hotspot for ultra-luxury living.
As the market continues to grow and change, there is no doubt that Dubai will hold its own space in the luxury real estate worldwide, with record-breaking rental and sales transactions continuing to define the city’s property landscape.
