An ulta-luxury penthouse at the One Canal in Dubai has been sold for whopping $50 million.

It has been acquired by the family office of a European billionaire, thus making it one of Dubai’s most expensive penthouse deals, said AHS Properties, an luxury real estate company which made the sale.

The 45,000-sq-ft penthouse at One Canal stands as a magnificent sky mansion, ingeniously merging four rooftop units. This architectural marvel boasts state-of-the-art amenities: a dedicated gym, steam room, sauna, an exclusive rooftop garden accompanied by a pool, two additional private pools, grandiose high ceilings and dual parking spaces.

Residents can revel in breathtaking panoramic views, capturing the majesty of iconic landmarks, including the Burj Khalifa, Burj Al Arab and the serene Dubai Canal.

According to AHS, this milestone agreement follows closely on the heels of the company’s collaboration with Fendi Casa in November last year, which heralded the launch of the One Canal project.

With a gross development value of $450 million, the project experienced rapid sales, and the penthouse sale represents the final piece of the available inventory.

Everose Properties, under the representation of Karl Shehfe and Gregory Mathieu, acted as the wealth management entity overseeing the transaction.

The Fendi-branded project provides an exclusive space for the discerning few, blending the spaciousness of a luxury villa with breathtaking city vistas.

The globally acclaimed interior design firm, Hirsch Bedner Associates, was entrusted with the design of One Canal’s interiors, while the architecture was executed by Shaun Killa, a world-famous architect and the brains behind the unique and stunning Museum of the Future. 

On the big success, Abbas Sajwani, CEO and Founder of AHS Properties, said: "This mega sale to a European buyer is a testament to the vitality of Dubai’s luxury real estate scene. This niche sector is poised for continued growth, with the UAE consistently drawing high-net-worth individuals eager to call Dubai home."

"Guided by our mission to elevate and redefine luxury, AHS Properties is further cementing its position in the emirate’s premium property sector as a beacon for global investors, offering a synergy of prime locations and unmatched amenities. The One Canal penthouse exemplifies this, reflecting the height of luxury," he added.