CNN —A five-bedroom penthouse covering almost 22,000 square feet has sold in Dubai for 500 million UAE dirhams — just over $136 million — setting a new record for one of the world’s busiest luxury real estate markets.
Record salesThe previous record for a penthouse sale in Dubai dates back just a few months, when an apartment occupying the top floor of the Marsa Al Arab Hotel sold for 420 million UAE dirhams (about $114 million).
According to Provident Estate, the penthouse at Como Residences is the third most expensive in the world, after Penthouse D at One Hyde Park in London, priced at $237 million, and the Odeon Tower Penthouse in Monaco, priced at $440 million.
Shutterstock Palm Jumeirah also boasts the first monorail in the Middle East, which opened in April 2009, and connects the Palm to Dubai's mainland.
But when it comes to the asking price for a penthouse, the view is one of the key drivers.
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CNN, UAE dirhams —, Jumeirah, Provident Estate, Marsa Al Arab, UAE, Como Residences, Penthouse, Dubai Marina, Getty, Burj
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Dubai, Como, Marsa, Hyde, London, Monaco, Burj Al Arab, Burj, Eastern Europe, Dubai's, Nakheel, AFP, Karim, Burj Al, United States, Italy, France