Following the sale of its duplex in Downtown Dubai for AED50m, Signature Developers has just secured the sale of its final, full-floor penthouse, at the Residences JLT for AED36mn.
The sale marks pre-established confidence in the luxury property market with the Dubai-based development company having a new project in the pipeline, slated for completion by Q3 2025, with more details being announced in due course.
The Residences is located on the upper floors of the Taj hotel and features 3.6-meter high floor to window ceilings and access to 5-star amenities.
At 11,200 square feet, the penthouse has wall to wall decor, private elevator access, and a bespoke study, in line with the work-from-home trend.
With a track record of high-rises in its portfolio, the developer is now shifting focus and expanding its luxury footprint by developing a limited number of bespoke villas, in proximity to the golf course at Jumeirah Golf Estates, that will feature unparalleled finishing and pristine views within a gated community.
In April, appetite for Dubai luxury residential units among investors and homeowners hit an all-time high, according to real estate brokerage Union Square House (USH). From 2021 to that date, luxury residences by all major developers in Dubai were fully sold out, and trading at a premium on the secondary market, a marked difference from what was witnessed during the Covid pandemic.