Confirms 50,000 Square Foot Unit at Its Dh5b Orla Project, Its Third on Palm Jumeirah
Omniyat Properties’ new project, the Orla, on the Palm Jumeirah, features a 50,000-square-foot penthouse that the company hopes will break further records. The penthouse spans three storeys and is erected above that built-up space. That would be the biggest of its kind in the Middle East and the United Arab Emirates.
For the time being, the price kept a secret, but it will probably be revealed in the next three weeks. Mahdi Amjad, the founder and executive chairman of Omniyat, claims that pre-launch interest has already been shown for the penthouse. Which is a component of a project worth close to Dh5 billion. The penthouse, which we like to refer to as the “sky palace,” will have a 35-meter Infinity pool as well as its own lobby, arrival area, and an elevator, according to Amjad.
“We will make the prequalified investors public before the end of the year. The pricing announcement take place at that time as well. The Orla units will start at Dh25 million as Omniyat once more targets a base of extremely wealthy investors in Dubai real estate. The project is scheduled to be finished in three to five years.
Omniyat Went Beyond To Make The Orla Launch Event A Success
The most expensive penthouse deal in the UAE as of right now is the Dh163 million one at Atlantis the Royal Residences on the Palm. It has a square footage of at least 25,000. The stakes are immeasurably higher now that Omniyat has increased the spread to 55,000 square feet. In fact, the developer was the one to break the Dh100 million mark for also a mansion.
With a 55,000-square-foot residence built concurrently as part of Orla. Omniyat is entering the mansion market for the first time. A private beach is one of the amenities that will be available to the mansion’s ultimate owner, with other perks. The Chairman, Mahdi Amjad, stated, “We are taking all the best characteristics. Those investors connect with the ‘resort lifestyle’ and reinterpreted them through Orla. “Our One at Palm project has some of the most facilities available on the island, and we spared no expense. We have increased the size of the amenities that future homeowners can anticipate for Orla.”
The developer, well known for the Zaha Hadid-designed The Opus, has started a second Palm project this year. Again, with a small number of units, the AVA held in March, and according to Amjad, “90% of them are sold.
These launches coincide with Palm’s ongoing record setting for the most expensive real estate transactions in Dubai. Which recently top by a Dh600 million sale to Indian billionaire Mukesh Ambani.
The desire for more is evidently strong at Palm, and a few recent launches have established some definite standards. Clearly, this is what Omniyat is investigating with the Orla, and the penthouse will now receive all of the attention.