Dubai’s Marble Palace Sold for AED 425M | 2nd Most Expensive Home!

Dubai has, once again, seen a record transaction in the luxury real estate market. There is a large Marble Palace at Emirates Hills for which AED 425 million has been given as the deal amount, securing the second spot in the expensive residential property list of Dubai. This high-end transaction has caught the headlines-not only in real estate but it also points towards the thriving luxe housing market in the city.

According to Property Monitor, this grand palace, inspired by the Palace of Versailles in France, now ranks as the second most expensive residential transaction in Dubai, following the sale of the Como Residences penthouse in Palm Jumeirah in 2023. Initially listed for AED 750 million, the Marble Palace is located in one of Dubai’s most exclusive gated communities, Emirates Hills. The massive estate spans 60,000 square feet of interior space on a 70,000-square-foot plot.

Exclusive Features of The Marble Palace

Next, we will examine the exclusive features of The Marble Palace.

• Five ultra-luxurious and spacious bedrooms
• A breathtaking aquarium with 70,000 liters of water and coral reef formations
• Two majestic domes adding to the palace’s architectural grandeur
• Indoor and outdoor swimming pools for relaxation and leisure
• A dedicated power station ensuring uninterrupted electricity supply
• Reinforced emergency rooms for maximum security
• A grand garage with space for fifteen luxury cars

A Staggering Construction Cost

This luxury palace took almost 12 years for construction and was finally completed in 2018. Just the Italian stonework is estimated to have an estimated cost of AED 80 to 100 million. The interior design boasts 70,000 gold leaves and rare, priceless artifacts that greatly increase its value.

The sale of The Marble Palace once again confirms that Dubai’s luxury real estate market remains strong, attracting high-net-worth individuals willing to pay premium prices for exclusive and extravagant homes. This transaction is expected to positively impact Dubai’s property market, further encouraging global investors to enter this thriving sector.

Conclusion

The record-breaking sale of The Marble Palace for AED 425 million is a testament to Dubai’s ever-growing luxury real estate market, which continues to attract international investors. This milestone deal not only reinforces Dubai’s reputation as a global hub for ultra-luxury properties but also contributes to the city’s economic growth and investment appeal. This sale finally confirms Dubai as one of the most exclusive destinations for luxury real estate anywhere in the world with its unmatched grandeur and exclusivity.

Source: https://www.propertynews.ae