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Downtown Dubai luxury apartment sells for Dh50 million making luxury homes remain in the spotlight

Dubai: An apartment in downtown Dubai has been sold by its developer for a significant Dh50 million. Signature Developers’ 118 is a boutique luxury development across from Dubai Mall and a short walk from Address Downtown.

One of only two duplex apartments available, it features six en suite bedrooms and an eight-metre ceiling in the living room. Among the property’s amenities are a 30,000 square foot poolside garden and a deck, chauffeur accommodations, and 24-hour maintenance and concierge services.

“A near record-breaking sale, the luxury property earned its elusive ticket price through award-winning design, exclusive access to a community of prolific residents, palatial interiors, impeccable details, premium services, and an unparalleled, panoramic view of the Downtown area,” said the developer in a statement. “This is in stark contrast to current ‘ultra’ expensive residences that heavily rely on beachfront access and a sea view to justify their asking price.”

As a result of the sale, investor confidence in the country continues to rise. Once again, Dubai has positioned itself as a safe haven for burgeoning entrepreneurs, international investors and celebrities alike.

“Interestingly, a big draw to our pool of discerning buyers has not only been the uncompromising luxury we stand by, but also the heightened level of security and privacy we offer,” said Sunil Nihalani, a senior representative for Signature Developers. “With only 28 units available, we strive to build a sought-after community of tasteful residents that value discretion and peace of mind,” he added.

Source: https://www.propertynews.ae/business/downtown-dubai-luxury-apartment-sells-for-dh50-million-making-luxury-homes-remain-in-the-spotlight/

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