The Royal Penthouse in the Fairmont North Residence on Palm Jumeirah has all the fine trimmings expected from such a regally named abode.
There are five bedrooms – all en suite – an outdoor swimming pool, staff quarters, four parking spaces and a private lift direct from the car park.
And with a total area of 13,000 square feet – of which approximately 9,000 sq ft is built up – it is the largest occupied penthouse on the trunk of the Palm according to Fine and Country, the broker marketing the property.
But something that offers everything can only be afforded by the few – and the property comes with an asking price of Dh45 million.
To some, the idea of a penthouse can be a little restrictive – conjuring up visions of enclosed – albeit very comfortable– ivory towers, rather than the wide open spaces.
However, spread over two floors, this penthouse offers deep, cavernous spaces with windows and Juliette balconies that create an Italian styled, baroque ambience that belies the building’s modernity.
There are also five separate outdoor terraces spread over 4,000 sq ft around the property – offering views of the Arabian Gulf as well as the Dubai Marina skyline and the Palm itself.
One terrace holds the apartment’s own outdoor swimming pool – with two separate changing rooms and shower facilities, of course.
The fully furnished penthouse also offers a private study, two sitting rooms, staff quarters and a dining room with a custom made table by Ralph Lauren from Harrods in London. All the fixtures and fittings are of a similar calibre and quality and the kitchen comes with a breakfast terrace.
The building has a 24-hour concierge service and a full security team as well.
But there’s more ...
If the privacy becomes overwhelming, the luxury pad has a direct link to the Fairmont Hotel and access to all of the facilities offered at the 5-star hotel resort, including 24-hour room service. The hotel can be your personal kingdom with the run of its gourmet restaurants, cafes, swimming pools, gym, spa and waterfalls plus 460 metres of beach.
Yasin Valimulla, associate director with broker Fine and Country, tells Andrew Scott more about the luxury Palm Jumeirah penthouse:
Do many hotels sell their top floors?
Well the Fairmont Residences on the Palm are the north and south tower while the Fairmont Hotel is the middle tower. They are part of one development that works to service both tourists and residents. The South Tower penthouse is owned by a Kazhakstani gentleman who uses it as a holiday home. Many of the residents in the towers are Russian and Kazhakstani, however, the North Tower penthouse is owned by a Briton. The Fairmont Hotel does have its penthouse for sale but it’s a massive space at 40,000 sq ft – so the correct client has yet to be found for it.
Have you noticed the downturn in the Russian market?
Obviously there are fewer buyers from Russia at present and the softness in the market has been noticeable for about 18 months. Saying that, we are still seeing Russians and others buying at this level. The north penthouse has been on and off the market for the past year as a few buyers put offers forward and then pulled out for financial or personal reasons.
How is the market for such-high-value properties currently?
There has been interest from Saudi, Egyptian and Russian buyers but they have not translated into sales. In this market the price is negotiable but the Palm has not seen the drops that other parts of Dubai has – possibly 6 per cent versus 15 per cent in other areas.
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