Dubai’s real estate market has welcomed a record-breaking listing with the world’s highest residential property now available for purchase in the iconic Burj Khalifa. Priced at $51 million (AED 187.3 million), the two-level penthouse, known as "Sky Palace," is positioned 460 meters (1,509 feet) above ground, making it the tallest home on the planet.

This ultra-luxury, 21,000-square-foot (1,951-square-meter) apartment spans the 108th floor of the world’s tallest building and is being offered as a shell unit. An additional investment of $4.9 million (AED 18.3 million) is required for renovations, which, once completed, could push its value beyond $112 million (AED 411.6 million), according to Asad Khan, CEO of Invest Dubai Real Estate (IDRE), the exclusive listing agency.

A Trophy Property in Dubai’s Booming Ultra-Luxury Market

Dubai’s high-end property market continues to attract ultra-high-net-worth individuals from Europe, Russia, Asia, and Africa, drawn by the city’s tax-free status and long-term residency incentives. The Sky Palace offers buyers the flexibility to design and customize their living space, with AI-generated renderings showcasing potential interior layouts.

The penthouse features a private elevator, 12 dedicated parking spaces, and breathtaking panoramic views of the Arabian Gulf, Palm Jumeirah, and the Ras Al Khaimah mountains. Residents will also enjoy access to Burj Khalifa’s world-class amenities, including:

·       A private lounge on the 123rd floor

·       Outdoor jacuzzis and pools on the 43rd and 76th floors

·       A 25-meter swimming pool

·       Two luxury spas

·       Private gated gardens

·       Three gyms and tennis courts

·       Exclusive access to the Armani Hotel’s facilities

Challenges and Value Potential

While the property holds exceptional value, renovating a residence at such extreme heights poses logistical challenges. Materials and equipment will need to be transported using specialized high-rise lifts or helicopters, and all renovations must align with Burj Khalifa’s strict engineering requirements, designed to withstand wind forces and vertical load constraints.

The top 40 floors of Burj Khalifa are dedicated to commercial offices, while the residential section maintains an impressive 99% occupancy across its 900 apartments, underscoring the sustained demand for luxury real estate in Dubai.

As global cities like New York, Hong Kong, and Tokyo impose high taxes, Dubai’s tax-free market continues to be a prime destination for wealthy investors seeking trophy assets and luxury living.