World’s Exclusive Highest Home reaches Dubai Real Estate Market at $51 Million
February 1, 2025
The Dubai Real Estate Market Welcomes the World’s Highest Residential Property
The Dubai real estate market has reached new heights with the introduction of the world’s highest residential property, a stunning penthouse known as “Sky Palace,” located on the 108th floor of the iconic Burj Khalifa. This extraordinary listing is testing the appetite for ultra-luxury real estate in the emirate, where prices continue to surge in this tax-free haven.
Sky Palace: A Unique Investment Opportunity
Spanning an impressive 21,000 square feet (approximately 1,951 square meters), the Sky Palace is being offered as a shell unit for $51 million (AED 187.3 million). According to Asad Khan, CEO of Invest Dubai Real Estate (IDRE), potential buyers will need to invest an additional $4.9 million (AED 18.3 million) for renovations. Once completed, this extraordinary property could be valued at over $112 million (AED 411.6 million), based on comparable luxury properties in other major global cities.
Khan describes the Sky Palace as “the highest and most spectacular residential property in the world on top of the world’s tallest tower,” making it an ultimate trophy asset for discerning buyers.
Attracting Ultra-High-Net-Worth Individuals
The listing comes at a time when Dubai’s luxury real estate market is increasingly appealing to ultra-high-net-worth individuals from Europe, Russia, Asia, and Africa. The emirate’s tax-free status and the recent introduction of long-term residency visas have further enhanced its attractiveness as a destination for investment and luxury living.
Customization and Exclusive Amenities
The shell unit offers buyers a unique opportunity to customize the space according to their preferences. AI-generated renderings provide potential layouts, allowing future residents to envision their dream home. The penthouse includes a private elevator and 12 dedicated parking spaces, along with breathtaking views of the Arabian Gulf, Palm Jumeirah, and Ras Al Khaimah mountains.
Residents will also enjoy access to exclusive amenities within the Burj Khalifa, including:
- A private lounge on the 123rd floor
- Outdoor jacuzzis and pools on the 43rd and 76th floors
- A 25-meter swimming pool
- Two premier spas
- Private gated gardens
- Three gyms and tennis courts
- Access to facilities at the Armani Hotel
Challenges of Renovation
While the Sky Palace presents an exciting investment opportunity, renovating such a high-altitude property comes with unique challenges. Specialized expertise in high-altitude construction will be required, including transporting materials via specialized lifts or helicopters. Additionally, renovations must adhere to Burj Khalifa’s sophisticated structural engineering standards designed to withstand extreme wind forces.
Sustained Demand for Luxury Properties
The Burj Khalifa maintains a 99% occupancy rate across its 900 residential apartments, highlighting the ongoing demand for luxury properties within this landmark building. As Dubai’s property market continues to grow—especially in the ultra-luxury segment—the city stands out as a prime destination for international buyers seeking both investment opportunities and luxurious living spaces.
Khan emphasizes that “the Dubai real estate market is booming right now,” making it a fantastic investment opportunity. With significant interest already shown in the Sky Palace, it is clear that Dubai remains at the forefront of ultra-luxury real estate development on a global scale.
Photo Courtesy: arabianbusiness.com
