A Dubai property consultant has finalized one of the highest residential rental agreements in the emirate, leasing a penthouse at One at Palm Jumeirah for AED 4,000,000 ($1,089,025.20) annually.
Vasileios (Bill) Kandris of Dacha Real Estate handled the deal for the 7,450-square-foot residence, which boasts a private pool and terrace with views of Dubai’s skyline, including Palm Jumeirah, Ain Dubai, Burj Al Arab, and Burj Khalifa.
“This milestone deal underscores the rising interest of ultra-high-net-worth individuals in calling Dubai home. Success comes from understanding the client’s vision and aligning every detail to meet their needs, rather than prioritizing broker preferences,” Kandris said.
AED 4million rental deal highlights Palm Jumeirah’s appeal
The penthouse, reconfigured from four bedrooms to three, features a master suite with a walk-in closet.
The residence is part of a Dorchester Collection-managed development offering beach access, infinity pools, a spa, fitness centers, and concierge services.
This transaction reinforces Palm Jumeirah’s status as a sought-after location for high-net-worth tenants in Dubai’s property market.
