Abu Dhabi, UAEMonday 23 September 2019

Dh14.5m Dubai Marina penthouse takes lavish decor to new heights

It may not be among the tallest in the world but it makes statements in other ways

Dubai Marina is chock-full of impossibly high buildings, with the cluster at the north end known as the "tallest block in the world".

As the fog rolls in during winter mornings, the apartments on the upper floors enter a world of their own above the cloud line, while on clear days the views are seemingly endless.

Stood upon a penthouse balcony a thousand feet up, you can imagine a child's mind clicking into action.

"Mum, I can see the end of the earth and the sea water falling off the side ... I think I can see Grandma doing the gardening in London ... oh, she just tripped over the cat!"

Other-wordly indeed. But whatever age you are, it's hard to deny yourself that jaw-dropping reaction when you take in your surroundings.

When it comes to Dubai Marina penthouses, however, and there are quite a few, it doesn't have to be the super high life if you're slightly adverse to heights.

Take Al Seef Tower for instance, where the penthouse apartment has come on the market with LuxuryProperty.com for Dh14.5 million.

Compared to the nearby Marina 101, Princess Tower and 23 Marina, it appears rather like a shrub in a forest at 44-storeys. That could well be a happy medium though - high enough for panoramic views, yet low enough so as not to feel as though the floor has been swallowed up from underneath you.

The property certainly has more about it than just a lofty perch.

Spread across more than 7,000 square feet, it has been lavishly decorated throughout, with a largely contemporary theme that includes some geometric patterns and elements that add a touch of Art Deco.

It comes with an open plan living room which contains a bar, while an open kitchen and formal dining room provide plenty of entertainment space.

Two of the four bedrooms are master suites with walk-in dressing rooms and all are en-suite making it fully set for a large family or a small family that likes to have guests to stay.

As well as the sense of the space, the star of the show is undoubtedly the decor with every room making a statement whether you like use of gold and dramatic art works adorning the walls or not.

The 'tallest block in the world'. Al Seef Tower is tucked between the two white-topped buildings on the left of the picture. Courtesy LuxuryProperty.com
The 'tallest block in the world'. Al Seef Tower is tucked between the two white-topped buildings on the left of the picture. Courtesy LuxuryProperty.com

Q&A: Jason Hayes, founder and chief executive at LuxuryProperty.com

How fussy are people when it comes to height? Do buyers say ‘no, it has to be above floor 50’?

In many respects, when people are inquiring about penthouses, they normally are more concerned with the quality of the interior design, the layout and the furnishings than the location of the penthouse in terms of floor. For many, a super prime penthouse which has been exquisitely designed and fitted out is more desirable than a prime offering more standard in nature on the highest floor.

Is being a lower penthouse (compared to nearby towers), a selling point or drawback in this case?

This penthouse is truly unique - at 7,000 sq ft with four enormous bedrooms. Rarely anywhere in the world do you find such incredible dimensions. The quality of the craftsmanship is unsurpassed and as such it being a lower penthouse, comparatively, is of little consequence.

Is there an area of Dubai Marina that is favoured among buyers? This one is at the northern end…

Dubai Marina offers an incredible quality of life to its residents, with a myriad of different views being enjoyed from the 200+ towers that encompass the Marina. Some enjoy the city side of the Marina, with easy access to the mall and the metro. Others enjoy the sea-facing side, providing for easy access to JBR and the beaches.

Prices in Dubai Marina have taken a hit in recent years. Why should buyers not wait another six months?

Buyers should listen to my friend Warren Buffett, as reported by Peter Cooper in The National:

"With local Purchasing Manager Indexes screaming an economic recovery this autumn, and US interest rates slated to fall pointing to lower-cost dirham mortgages, wary buyers risk missing the very bottom of the five-year bear market in UAE residential property."

Quite simply, this is the bottom of the market. I've called it. Warren's called it. We're both right!

In six months time, one can't help but predict that this will be a missed opportunity with property prices witnessing a robust return to positive growth and there being a swing from a buyer's market to a seller's market.

Updated: June 30, 2019 08:06 PM

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