The mansion located in the Emirates Hills area costs $204 million
A mansion in Emirates Hills is for sale for Dh750 million ($204 million) thereby making it the most expensive property in Dubai and one of the most expensive in the world. Called the Marble Palace, the house is reminiscent of the French Palace of Versailles and has an indoor space of 60,000 square feet. Spanning across 4000 square feet, its primary bedroom is bigger than most homes. It also has a 15-car garage, indoor and outdoor pools, two domes, a 70,000-liter (15,400-gallon) coral reef aquarium, a power substation and panic rooms. It overlooks a golf course and offers views of the iconic Burj Khalifa.
The property was built using an estimated Dh80 million to Dh100 million in Italian stone. Its construction took nearly 12 years and was completed in 2018, according to Luxhabitat Sothebys International Realty, which is selling the property. The process included the application of 700,000 sheets of gold leaf by 70 skilled workers toiling more than nine months, the brokerage says. The home is currently decorated with about 400 pieces from the owners personal art collection, primarily 19th century and 20th century statues and paintings that the owner is prepared to negotiate about including in the purchase.
The owner, a local property developer, declined to be named. “Its not everybodys taste or style,” says Luxhabitat Sothebys broker Kunal Singh. He further points out that the propertys price is partly justified by the value of the time and materials that went into building it. The location is minutes from the Palm Jumeirah and about 25 minutes by car from the Dubai International Financial Center business district. He estimates that there are only about five to 10 potential buyers in the world are wealthy enough to buy the Marble Palace.
Dubais real estate market has been on a high since late 2020. Several recent mega deals include the Dh125 million sale of a plot of empty beachfront land and the purchase, for Dh420 million, of a penthouse. Yet the price per square foot of the Marble Palace - Dh12,500 - is more than double what other properties in Emirates Hills have fetched. The most expensive home sale previously in the neighbourhood was for Dh210 million, at Dh5,614 per square foot, in August 2022, according to Dubai property records.
Only another property in the city rivals this mansion - a planned penthouse apartment in a project called Bugatti by Binghatti, which is also being offered at Dh750 million but is yet to be built.
