This penthouse has only recently been completed on Palm Jumeirah and it joins a stable of Viceroy Residences that sit in some of the most sought-after global destinations such as Snowmass in Aspen Colorado and Bocas del Toro in the Caribbean.
It is for people who hanker to live in hotel conditions as the 221 private residences are right next to 477 hotel units.
If the name Viceroy Residences isn’t familiar to you, its startling tower in Jumeirah Village will be: the company is developing Viceroy Dubai Jumeirah Village, set to complete next year, with 272 hotel apartments with their own private swimming pools on the balconies.
For those who want to live on the Palm these hotel apartments are well located because one does not have to drive the full length of the artificial island to reach home. The drive up the central trunk and then sweep down the crescent of the Palm can become an onerous journey. However, the Viceroy Residences are easily accessible from the base of the Palm.
This penthouse has just come on the market in the past month for Dh16,276,240. Precisely. It is a pricetag that Luxhabitat, which is marketing the apartment, describes as “exceptionally well priced”.
So, what do you get for your money?
Well, 5,469 square feet. It has probably the best view available from the Palm facing south-east and with four balconies it offers every chance to enjoy the views. It has a full skyline view of the Dubai Marina, the Arabian Gulf and the Blue Water Island, which will host the world’s biggest big wheel.
It has four bedrooms, all en suite, six bathrooms and a fully equipped open kitchen. It has a wine cellar, a storage room, a maid’s quarters, a utility room, five wardrobes, walk-in wardrobe, smart home technology, three parking spaces and comes fully furnished. It also has its own swimming pool, 7 metres by 4 metres, on its main balcony.
Because it is part of a hotel development it has a reception service, concierge service, valet parking, private Jacuzzi, communal steamroom sauna and gymnasium, and a private barbecue.
Q&A: Kunal Singh, a luxury sales representative with Luxhabitat
The asking price of Dh16,276,240 sounds incredibly specific. Why so?
These residences were launched in 2012 and we broke ground in 2013, so this penthouse is now being sold on the secondary market and early investors will have expected a percentage return. Whatever that ROI [return on investment] has been calculated at against the original price is how we came to the asking price.
You say it’s a penthouse but the apartment we are featuring is on the 2nd floor. How does that work?
The Viceroy has developed a concept whereby our apartments sit on their own, and the terraced arrangement means they have nothing above them, hence the penthouse. If you picture a pyramid with apartments and balconies on each level, that is the concept.
It feels very much like a hotel, more than a home. Why?
This is for people who want to move in with a suitcase and a toothbrush, in fact we can provide a toothbrush for them, so just the suitcase. We provide the linen for the bedrooms, the towels for the bathrooms, the cutlery and kitchen ware, the bathroom condiments and all the accessories necessary for 5-star living. We have seen a lot of interest in them. I have probably sold US$6 million worth of real estate in the past three months with seven or eight of these apartments being sold. While that doesn’t compare with 2012-14, it is very good for the current climate.