Azizi tests waters with Dh26.8m penthouse as Dubai’s luxury properties rise again

Dubai: A villa on the Palm recently sold for Dh111 million – easily the priciest residential transaction in Dubai in the year so far.

Now, a developer is testing the Palm waters to gauge what sort of buyer interest is there for a penthouse apartment, with a tag of Dh26.8 million. Azizi Developments has started handover of units at the Mina, and expects to nail a deal for the penthouse soon enough.

“There are only two penthouses at the project – and I am keeping one for myself,” said Farhad Azizi, CEO. “The Mina handovers are happening at the best possible time… there is a fresh wave of interest for Palm properties. This is why we are quite confident about the chances of the second penthouse.”

The Dh26.8 million unit takes up 3,002 square feet and 7,228 square feet of balcony/terrace space with a private rooftop pool. The Mina is the developer’s second project on the Palm, and is part of the 10,000 new homes it will be handing over this year in Dubai.

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