Which are the 3 costliest apartments in Dubai?

Published Thursday, May 23, 2013

By Parag Deulgaonkar

It’s the “dream” tower of the rich.

Le Reve, which means “The Dream” in French, in Dubai Marina has registered the top three costliest apartment transactions of the first quarter 2013 in the emirate.

Information shared by Reidin.com with Emirates 24|7 reveals that a bespoke apartment in the tower was sold for Dh24 million with the buyer paying Dh3,811 per square feet.

Two apartments were also sold for Dh20 million and Dh19 million, respectively, in the same tower, taking the second and third slot on the top 10 list.

In 2012, the costliest transaction was registered for an apartment in Le Reve, which sold for Dh34.7 million.

An apartment sold for Dh12 million in Emirates Crown Tower was placed fourth, while Marina Residences 1 sold for Dh11.63 million was placed fifth.

Eight of the top 10 costliest transactions were registered in Dubai Marina, while two were registered in Palm Jumeirah.

On Tuesday, Emirates 24/7 had revealed Dubai’s 10 biggest villa deals in the first quarter 2013.

In its Q1 2013 report, Jones Lang LaSalle around 40,000 new residential units are scheduled to enter the market over the next two year with 28,000 dwellings expected to be completed this year.

Quoting Reidin, it said that apartment sale price index increased by 18 per cent year-on-year, but it remains below the peak values in Q3 2008 with the apartment index 22 per cent less than in Q3 2008.

Asteco Property Management, a UAE-based property consultancy, estimates 39,000 apartments to be released in 2013.

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