Rare Penthouse Unit in Dubai Hills Estate Listed by LuxuryProperty.com

Dubai Hills Estate has been one of the most popular and highly sought-out neighborhoods in Dubai in the past few years. Benefiting from a property boost that came shortly after Covid lockdowns in 2020, the community has seen tremendous growth bolstered by a prime position in the city (approximately 20 minutes from most key destinations), a vast selection of amenities, abundant greenery, and a varied selection of properties. Villas in Dubai Hills Estate have dominated most property discussions, especially in higher end enclaves like Hills Grove and Hills View. Apartments have not been as hot a topic, but that comes down to one main reason – they’re all bought up. It’s rare for an apartment in Dubai Hills Estate to be available for sale and penthouses are even rarer. One of those units has recently been put on the market exclusively by award-winning brokerage LuxuryProperty.com.

The penthouse is part of the Acacia apartment cluster and is one of only 3 such units in the building. It is also the only 4-bedroom apartment that is currently available for sale there. The unit features an 18.2-metre long living room and is surrounded by a 25-metre wraparound terrace that provides views all over the surrounding area, including the building pool, the nearby Dubai Hills Park, and the skyline of central Dubai. There is a semi-closed kitchen with a wonderful European-inspired design and a maid’s room – a common feature in many Dubai residences that is often used as a storage space or converted into a study area. All of the original flooring has been upgraded and the unit is available furnished if preferred.

Jack Wilson, a specialist in the Dubai Hills community, is the listing agent for the penthouse and believes it is a very prime option for either an end user or an investor. In recent months, there has been a surge in demand for apartments in Dubai, primarily driven by significant price increases for villas. There has been a similar increase in villa rents, which has driven more tenants to seek out apartments as well.

“It’s very rare for apartments to become available in Dubai Hills, especially a four-bed unit that offers so much space and enjoys such a prime position in the community. The demand for apartments has skyrocketed in recent months, it won’t be too long before this one disappears from the market as well.”

Jack has seen a 94.8% increase in transactions for apartments in Dubai Hills Estate year-on-year for the first quarter of 2024, alongside price increases that are hovering between 20% and 30%, depending on the unit size and type. He broke a transaction record in Executive Residences, another apartment cluster in the area, and has sold several two-bedroom units at the top end of their price bracket.

“Many people are finding themselves priced out of Maple and Sidra [two of the popular villa neighborhoods], and are now turning to clusters like Acacia and Park Ridge for apartment options that give them a decent amount of space and easy access to the amenities of Dubai Hills at a price tag that’s less steep. This penthouse in Acacia is, I think, one of the nicest options around.”

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Country: United Arab Emirates
Website: https://www.luxuryproperty.com