Dubai is home to one of the most expensive penthouses in the world

The property is located in The One tower, an iconic development on Palm Jumeirah.

A USD 27.7 apartment on the top floor of a posh residential tower on Palm Jumeirah in Dubai is officially one of the priciest homes on the planet. 

A corner unit in the One project on the iconic island was included in the list of the eight most expensive penthouses in the world by luxury portal Prestige. Dubai apartment was featured alongside luxurious properties in Italy, Hong Kong, Singapore, United Kingdom, Australia and the United States.

The apartment offers unparalleled views of Dubai Marina, Jumeirah and the Persian Gulf. It is owned by a GCC region national, who purchased it for USD 27 million in 2017.

The One tower at Palm Jumeirah is the first building you see approaching to the eastern side of the man-made island. The project was developed by Omniyat Properties and is managed by Dorchester Collection, a worldwide renowned hotel operator.

Among other units the Prestige list features the Sky Penthouse in Monaco that was listed for USD 335 million, the Boyd Residence in Sydney that went on the market for USD 50 million in 2018 and a penthouse in One Hyde Park in London worth USD 219 million.

Dubai real estate has seen a high demand from local as well as international property buyers since the COVID-19 restrictions eased last year.