PRESS RELEASE L U X H A B I T A T DUBAI MARINA TOPS PENTHOUSE SALES IN 2014 BY 50% DUBAI, 26TH MARCH 2015 Contemporary Penthouse for Sale in Emirates Crown, Dubai Marina - View details LUXHABITAT, Dubai’s exclusive luxury real estate company has conducted an analysis on luxury penthouses above AED 5 million sold in 2014 using data from REIDIN. A penthouse for the purpose of this study is defined as an apartment above 5,000 square feet in built up area. Luxhabitat analysis reveals that over 50% of the penthouses sold last year were from the Dubai Marina area. HIGHLIGHTS: 1) In 2014, about 50% of luxury penthouses sold above AED 5 million were from the Dubai Marina area that accounted for AED 321 million. The most expensive penthouse from the area was for a 6,278 square feet penthouse in Le Rêve Tower. 2) The most expensive penthouse sold last year in Dubai was a 10,254 square feet apartment in Marina Residences in Palm Jumeirah at AED 29 million. 3) 23 Marina Tower located in the Dubai Marina sold the most number of penthouses last year. PENTHOUSES SOLD ABOVE AED5M IN 2014 BY RESIDENTIAL AREA L U X H A B I T A T 1 PRESS RELEASE Value transacted, Number of penthouses sold Neighbourhood AED above AED5M Dubai Marina 321,000,000 29 Palm Jumeirah 152,111,360 10 Business Bay 51,200,149 8 Jumeirah Beach Residences 68,790,000 7 Jumeirah Lake Towers 22,888,500 3 Downtown Dubai 28,000,000 1 Grand Total 643,990,009 58 Source: Luxhabitat Analysis, March 2015 In 2014, the number of luxury penthouses sold above AED 5 million exceeded 58 units, of which 50% were from the Dubai Marina area. In terms of value transacted, the area topped sales for luxury penthouses with AED 321 million. An urban centre above the water, Dubai Marina offers a cosmopolitan, free-spirited atmosphere and unique lifestyle. The second area that reported the highest total value transacted and units sold for penthouses was the Palm Jumeirah, reporting AED 152 million in transaction value and 10 units sold. The most expensive penthouse sold last year was from the Palm Jumeirah for a property in Marina Tower worth AED 29 million. NUMBER OF PENTHOUSES ABOVE AED5M TRANSACTED IN 2014 IN THE DUBAI MARINA AREA 23 Marina Tower 8 Princess Tower 4 Elite Residence 3 Al Seef Tower 2 Emirates Crown Tower 2 Marinascape Towers 2 Torch Tower 2 Others 6 Note: Others include properties in Cayan Tower, Dubai Marina Tower-Al Mass, Le Reve Tower, Marina Tower, Silverene Towers and The Waterfront Tower. Source: Luxhabitat Analysis, March 2015 23 Marina Tower had the highest number of penthouse sales in the Dubai Marina area last year, with 8 units being sold. Luxury Sales Director and Penthouse Specialist of LUXHABITAT, Alexander Von-Sayn Wittgenstein claims that the Le Reve Tower is one of the top-notch well finished luxury developments in the city for penthouses. “The tower offers 80 units, all that either span a full or half floor. There is an element of exclusivity that comes with the tower, and the transaction price on average is about AED 25 million, therefore only attracting A-listers.” He adds. SOME OF LUXHABITAT’S STUNNING PENTHOUSES: L U X H A B I T A T 2 PRESS RELEASE DUBAI MARINA Penthouse for Sale in Botanica Tower – Asking Price AED 9,900,000 - View details PALM JUMEIRAH Penthouse for Sale in Shoreline Apartments, Palm Jumeirah – Asking Price AED 8,800,000 - View details DOWNTOWN DUBAI L U X H A B I T A T 3 PRESS RELEASE Loft for Sale in Downtown Dubai– Asking Price AED 16,000,000 - View details ABOUT LUXHABITAT LUXHABITAT is Dubai’s only high-end real estate company focused on marketing, selling and designing the most exclusive real estate properties in the region above AED 5 million. Last year, our average property transaction was AED 14 million. We are focused in sourcing the best quality properties in premium residential areas such as Emirates Hills, Palm Jumeirah, Al Barari, Jumeirah Islands, Jumeirah Golf Estates, Meadows, Lakes and Arabian Ranches. We also operate in the best apartments and penthouses in Dubai-based upscale buildings such as Le Rêve, Index Tower, Six Towers, Burj Khalifa, and The Address Hotels among others. For more information, visit our award-winning website at www.luxhabitat.ae WWW.LUXHABITAT.AE For further press information, images or to arrange interviews please contact Aneesha Rai E: [email protected] | M +971 50 426 0432 | T +971 40 432 7972 Follow us on twitter: @luxhabitat L U X H A B I T A T 4 .