Binghatti, a prominent real estate developer in Dubai, has officially announced the sale of the city’s most expensive penthouse at Bugatti Residences for an astounding AED550 million (approximately $150 million). This remarkable transaction marks a significant milestone in Dubai’s property landscape.

The groundbreaking sale was facilitated by Abdullah Binghatti, the Chief Sales Officer of the company, establishing a new record in the local market. Additionally, the penthouse achieved the highest price per square foot ever recorded in the Business Bay area, reaching AED11,650 per sq ft (around $3,172).

According to Muhammad Binghatti, the company’s Chairman, they have secured the top position in Dubai’s real estate sector this year, having sold more than 14,000 units, outpacing both public and private competitors. With rapid growth, Binghatti is now recognized as one of the top three developers in the city, reflecting the strength of their strategic vision and the trust their clients place in them.

The penthouse spans an impressive 47,200 square feet, highlighting the strong demand for the Bugatti Residences project, the first-ever residential development featuring the Bugatti brand. Notable personalities, including football stars Neymar Jr. and Aymeric Laporte, and Italian tenor Andrea Bocelli, have already invested in residences within this luxurious community.

Situated in Business Bay, the Bugatti Residences grant residents immediate access to critical business hubs and key city landmarks, making it an appealing choice for buyers prioritizing luxury, privacy, and security. The development, with its ultra-luxurious homes and exclusive penthouses, continues to elevate Dubai’s luxury real estate market, reinforcing the city’s status as a global leader in high-end properties.