A Landmark Transaction by Omniyat: Lana Residences Penthouse Sold for $37.8 Million

Luxury property developer Omniyat has recently achieved a milestone by selling a penthouse in Dubai's Burj Khalifa district for AED 139 million ($37.8 million). After the landmark transaction, The Lana Residences penthouse has become the most expensive property in the area. Discover this remarkable sale, showcasing Dubai's flourishing luxury real estate market and the timeless appeal of its iconic properties gracing the city's skyline.

A Spectacular 4-Bedroom Penthouse in Dubai's Premier District

The 4-bedroom luxury penthouse, located at The Lana Residences, Dorchester Collection, spans over 16,594 sq. ft. offering breathtaking views of the marina. Situated between  Downtown Dubai, Burj Khalifa District and the Dubai Design District D3, The Lana Residences consists of two interconnected towers and is one of Dubai's highly awaited off-plan properties. One tower accommodates an esteemed hotel, while the other presents luxury apartments featuring 2 to 4-bedroom apartments, two-story residences with 4 bedrooms, and penthouses with 4-5 bedrooms and private Jacuzzi pools.

Residents can enjoy various amenities, including the hotel's concierge services, Mediterranean restaurant, butler service, and parking facility. Also on site are a gym, swimming pool, spa, yoga studio, and a picturesque garden with plenty of seating.

Burj Khalifa is known as a ‘vertical city,’ an apt name given its magnitude and extravagant mixed-use facilities. The glamorous tower boasts 2,957 parking spaces, 304 hotel rooms, and 900 apartments. Burj Khalifa continues to draw significant attention from investors even 14 years after its inauguration, with approximately $2.7 billion in home sales recorded since its launch. It is one of the popular districts for apartments for rent in Dubai and sale.

Omniyat's Legacy of Excellence

Omniyat has established a reputation for pioneering groundbreaking real estate ventures. In 2017, the renowned developer achieved a milestone by selling a luxurious penthouse at One at Palm Jumeirah, Dorchester Collection, Dubai, for AED 102 million, setting a new benchmark as one of the UAE's most expensive properties at the time. This record was subsequently eclipsed in 2023 with the sale of the Sky Palace at AVA, Palm Jumeirah for AED 220 million.
"This is more than just a property; it's a sanctuary where every detail has been thoughtfully curated to evoke a sense of harmonious balance," said Mahdi Amjad, founder and executive chairman of Omniyat about The Lana Residences. Omniyat also recently acquired Marasi Bay Marina from Business Bay, marking a significant milestone for the company.

"The acquisition of Marasi Bay Marina represents a transformative opportunity for the area, with its prime location near Downtown. The unique characteristics of the location will allow us to create an exclusive, conceptual lifestyle destination unlike anything seen in Dubai," added Amjad.

Dubai’s Luxury Property Market

Dubai's luxury and branded property market has experienced significant growth over the past three years, driven by an influx of high-net-worth individuals. According to a report, the UAE is expected to experience a 39% rise in HNWIs by 2026, surpassing 228,000. Dubai continues to rank as the top city for luxury property sales, with 431 properties valued at over $10 million sold in 2023, surpassing London (240), New York (211), Hong Kong (163), and Los Angeles (161).