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Dubai’s ultra-luxury property market shows no sign of cooling, as the last two penthouses at the Bulgari Lighthouse on Jumeirah Bay Island for a combined amount of more than Dh282 million. The first five-bedroom residence, spanning 11,657 sq ft, reached a whopping Dh146.6 million, while the second, achieved Dh136.25 million.

Designed by Italian architects Antonio Citterio and Patricia Viel, Bulgari Lighthouse blends contemporary engineering with Mediterranean calm. Every detail of Bulgari Lighthouse is run by the neighbouring Bulgari Resort. 

The transactions were brokered by Driven | Forbes Global Properties’ Lina Allaoa and Kianoush Darban, founders of The Private Collection, the brokerage’s specialist team for ultra-high-end property. The duo is well known for setting several records in the area, from the highest price per square foot, to the most expensive villa in Jumeirah Bay Island.

From left: Kianoush Darban, Lina Allaoa and Abdullah Alajaji of Driven Properties

“Dubai offers our international clients two things they value most: a secure place to allocate their capital and an unbeatable way of life. Bulgari Lighthouse unites those advantages in a single address, blending sound investment with everyday opulence,” said Lina Allaoa.

Kianoush Darban added, “Scarcity drives value. With fewer than 40 residences in the tower, and amenities that rival a private resort, Lighthouse is arguably the most coveted address in Dubai.”

Their success mirrors the broader market: Dubai logged a record Dh62.4 billion in property transactions this April, up 95 per cent year-on-year, driven largely by trophy waterfront assets. Analysts expect headline deals to keep setting new benchmarks through 2025 as supply of genuine ultra-prime stock remains limited.