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23 April 2024

Dubai's Burj Khalifa tops costliest apartment deal in Q3

Dubai-based global airline Emirates and emirate’s Department of Tourism and Commerce Marketing (DTCM) last week launched a new global campaign that celebrates different facets of Dubai. (File)

By Parag Deulgaonkar

Burj Khalifa, the tallest tower in the world, registered the biggest property deal in Dubai in the third quarter of 2014, as Downtown Dubai, housing the mega tall structure, witnessed five of the top 10 deals.

An apartment in Burj Khalifa sold for Dh28 million, topping the list of 10 costliest apartment deals for the third quarter, according to data provided by Reidin.com to Emirates 24|7.

For the second consecutive quarter, Downtown Dubai, which also houses Dubai Mall, one of the largest malls in the world, registered the maximum costliest property deals.

The second costliest transaction took place in Le Reve Tower, Dubai Marina, with an apartment selling for Dh25m.

A unit in Marina Residences 4, Palm Jumeirah, which sold for Dh14.30m, took the third place. The fourth and fifth positions were units in The Residences Podium Downtown Dubai and Anantara Residence (Resort & Spa), Palm Jumeirah, which sold for Dh14m and Dh12.65m, respectively.

Dubai Marina witnessed three of the biggest deals, while Palm Jumeirah registered two deals, Reidin.com data reveals.

The Waterfront Tower, Dubai Marina, sold for Dh12m, took the sixth position, while a unit sold for Dh11.50m in The Address Downtown Hotel (Lake Hotel), Downtown Dubai, was placed seventh on the top 10 list.

An apartment in Al Seef Tower, Dubai Marina and two units in The Address Downtown Hotel (Lake Hotel), Downtown Dubai, took the last three positions. They were sold for D11m, Dh11m and Dh10.80m, respectively.

This website had revealed in September that developers in Dubai had launched 42 developments, which includes 17 villa and townhouses projects, so far this year till end-August.

Read: Dubai Expo 2020 impact: 42 projects with 11,250 units this year

Dubai Land Department stats reveal that the total amount of real estate transactions have exceeded Dh113 billion ($30.8 billion) in the first six months of 2014.