The home, sold for Dh73 million ($19.87 million), has become the second-most expensive penthouse sold in the history of UAE real estate. Details of the buyer who has scooped up the penthouse remain private.

Omniyat created a record in 2017 by selling the most expensive penthouse in Dubai for Dh102 million.

With the successful sale of the second penthouse, enquiries for the third penthouse are already in the pipeline. Omniyat is confident that the sale of the third penthouse will beat the record again with a price estimated that of between the first and second penthouse, said the developer.

Located on the Palm Jumeirah, the penthouse owner will enjoy over 20,000 sq ft of luxury with stunning views and an immaculate landscaped rooftop terrace with pool designed by world-renowned landscape designer Vladimir Djurovic, bringing to life the vision of One Palm as the pinnacle of affluence in the ultimate address.

Mahdi Amjad, Omniyat Executive Chairman and CEO, said: “The space is truly incomparable, it is the epitome of luxury perfectly balanced with modern elegance complementing the surroundings of One Palm. As curators of bespoke projects, we pay incredible attention to detail and source only the finest materials that attract the most discerning clients to the region.

“Considering the modern lifestyle and high standards of living that the emirate offers, Dubai continues to cement itself as the most sought-after residential location of choice, with multi-millionaires shifting their home base to the country. Dubai has always set the benchmark with its excellent living conditions and infrastructure, and at Omniyat, we aim to continue contributing to that vision,” added Amjad.

Situated in a prime plot of the iconic Palm Jumeirah entrance, One Palm offers views of Dubai Marina’s skyline and the Arabian Gulf. The building’s architecture, which include double- and triple-height spaces, provide unique indoor and outdoor living areas and beautiful landscape sanctuaries with utmost privacy in mind.