Dubai's Ultra-Luxury Property Market Hits New Heights

Dubai's luxury real estate market continues to defy global trends, with Driven | Forbes Global Properties completing the sale of the final two penthouses at the Bulgari Lighthouse for a combined total exceeding AED282m ($77m).
The deals reinforce the emirate's status as one of the world's most resilient and in-demand ultra-prime residential destinations.
The first penthouse, a five-bedroom residence spanning 11,657 sq ft, was sold for AED146.6m ($40m), while the second fetched AED136.25m ($38m) —both among the highest-value apartment sales recorded in Dubai this year.
Designed by acclaimed Italian architects Antonio Citterio and Patricia Viel, the Bulgari Lighthouse is located on Jumeirah Bay Island.
The tower features a coral-like façade, panoramic views of the Arabian Gulf and Downtown Dubai, and interiors finished with Italian marble, hand-laid silk panelling, and warm oak accents. Each residence includes private infinity pools, double-height salons, and expansive terraces, merging resort-style luxury with urban privacy.
Every detail is curated in partnership with the adjacent Bulgari Resort Dubai, offering owners hotel-level services—from private chefs and curated events, to concierge-managed experiences.
The landmark sales were brokered by Lina Allaoa and Kianoush Darban, founders of The Private Collection at. Known for consistently setting area records—including the highest price per square foot and most expensive villa sale on the island—the duo has become synonymous with Dubai's high-end property elite.
Lina Allaoa said: 'Dubai offers our international clients two things they value most: a secure place to allocate their capital and an unbeatable way of life. Bulgari Lighthouse unites those advantages in a single address, blending sound investment with everyday opulence'.
Kianoush Darban added: 'Scarcity drives value. With fewer than 40 residences in the tower, and amenities that rival a private resort, Lighthouse is arguably the most coveted address in Dubai.'
Their success is emblematic of the wider market. The emirate recorded AED62.4bn ($17bn) in real estate transactions in April 2025, a staggering 95 per cent increase year-on-year, driven largely by demand for trophy waterfront homes and limited-edition inventory. Analysts expect this ultra-prime momentum to continue into 2026 as supply remains tight and international capital continues to flow.
Also read: Dubai Metro Blue Line To Have World's Highest Metro Station

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Driven Properties, a member of the Forbes Global Properties network, has announced that it has completed the sale of the last two penthouses at the Bulgari Lighthouse on Jumeirah Bay Island in Dubai for a combined amount of more than AED282 million ($77 million). The first five-bedroom residence, spanning 11,657 sq ft, reached a whopping AED146.6 million, while the second, achieved AED136.25 million, said the company in a statement. Designed by Italian architects Antonio Citterio and Patricia Viel, Bulgari Lighthouse blends contemporary engineering with Mediterranean calm. A coral-inspired façade shields each home while framing uninterrupted views of the Arabian Gulf and Downtown's skyline, it stated. The transactions were brokered by Driven | Forbes Global Properties' Lina Allaoa and Kianoush Darban, founders of The Private Collection, the brokerage's specialist team for ultra-high-end property. The duo is well known for setting several records in the area, from the highest price per sq ft, to the most expensive villa in Jumeirah Bay Island. Terraces flow into private infinity pools, and double-height salons are finished in Italian marble, warm oak and hand-laid silk panelling, said the company. A combination of location, craftsmanship and privacy that has made Lighthouse one of the most wanted addresses in Dubai's ultra-prime market, it added. "Dubai offers our international clients two things they value most: a secure place to allocate their capital and an unbeatable way of life. Bulgari Lighthouse unites those advantages in a single address, blending sound investment with everyday opulence," remarked Allaoa. On the strategic deal, Darban said: "Scarcity drives value. With fewer than 40 residences in the tower, and amenities that rival a private resort, Lighthouse is arguably the most coveted address in Dubai."