Penthouse.ae closes deals worth AED 180M as Dubai branded residences continue to hold sway with international investors
Further highlighting the growing demand for branded residences from international HNW investors, Penthouse.ae, a luxury division of Metropolitan Premium Properties (MPP), has closed five deals totaling AED 180 million at SLS Residences, an upcoming branded development located on Palm Jumeirah.
The deals for one 13,900 sq. ft. penthouse, two 4,200 sq. ft. three-bedroom duplexes and two 1,900 sq. ft. two-bedroom apartments were closed this month by the team at Penthouse.ae including Petri Mannila, Sales Director, Julia Kurbatova, Sales Manager and Kaarle Harju, Sales Executive.
All units were sold in the pre-launch phase and are due to be handed over in 2026. The buyers were from Western Europe continuing the recent trend of European investors flocking to the city, attracted by competitive pricing and Dubai’s international appeal.
Petri Mannila, Sales Director of Penthouse.ae, said: “Dubai is considered the leader in branded residences as it has the highest concentration of branded residences in the EMEA region with high growth expected in the sector over the next decade. The sector has grown by more than 150 percent over the past 10 years, largely thanks to the increasing number of HNWIs investing in the city. Branded residences provide a guaranteed level of quality synonymous with the brand, and for investors, they can elevate their living experience as they provide prestige and exclusivity in addition to premium amenities and services.”
Kaarle Harju, Sales Executive at Penthouse.ae, said: “Branded properties are in very high demand and there are only a handful of such units available on the Palm. These units offer the buyers good value for money as similar properties go for almost twice their value. The SLS Residences offers a range of high-end amenities, including a clubhouse, private dining, pool, recording studio, gym, games room, cinema, spa, kids club and outdoor landscaping.”
Located on the West Crescent, SLS Residences Palm Jumeirah is a collection of luxury 2, 3 and 4-bedroom homes developed by Roya Lifestyle Development offering unique resort-style living. Residents will enjoy stunning views of Palm Jumeirah, the Arabian Gulf, Bluewaters Island, the Burj Al Arab and the famous Downtown Dubai skyline and Dubai Marina.
In addition to MPP in Dubai, Metropolitan Group also includes Metropolitan Homes, a one-stop real estate agency providing the full cycle of specialist brokerage services to Dubai’s secondary property market sellers and buyers and Metropolitan Capital Real Estate in Abu Dhabi. The Group also includes Luxury Immobilien GmbH, a real estate agency in Vienna and Metropolitan Consulting FZE, providing personal and business legal services in the UAE.
