The property marks a rare transaction at the very top of Dubai’s rental market, where high-net-worth tenants continue to commit to premium rents for scale, privacy, and prestige. The deal highlights how demand for trophy assets remains intact even as broader regional uncertainty persists.
“In times of volatility, capital does not retreat, it becomes more selective. It seeks environments defined by stability, security, and long-term vision. Dubai continues to command that trust,” said Karl Haddad, owner of the property.
A One-of-a-Kind Residence
The residence stands apart within the Burj Khalifa itself, following a multi-year structural transformation that combined multiple units into a single vertical residence. The process took more than six years, including over three years of approvals, with concrete slabs modified to create a private internal staircase. The result is the only duplex of its kind in the tower.
Spanning more than 10,000 square feet with plans to expand further, the property includes a large terrace, private pool, cinema, spa, and gym, alongside high-end finishes and custom interiors designed for long-term occupancy.
“This property is unlike any other in the tower,” Haddad said. “On a personal level, this reinforces why I continue to invest and operate here. Dubai has built an ecosystem where ambition is protected, capital is respected, and confidence is sustained, even in the most testing moments.”
Shift in Ultra-Prime Rental Demand
The transaction was facilitated by Keyper and points to a shift in how ultra-wealthy residents approach property in Dubai.
“Ultra-high net worth individuals are prioritising flexibility without compromising scale, privacy, or prestige. A Dh12 million annual lease would have been unthinkable just a few years ago. Today, it reflects the growing sophistication of Dubai’s ultra prime rental market.”
Omar Abu Innab, Co-Founder and CEO of Keyper, noted that large-ticket property purchases remain common, though high-value leases at this level are still rare, placing the deal among a limited set of global transactions.
That positioning has helped sustain activity in Dubai’s prime segment, even as other markets face slower deal flow. The flexible payment structures offered by landlords and the emirate’s strategic appeal continue to attract capital from ultra-high-net-worth individuals seeking stability and premium lifestyle offerings.
The transaction comes as Dubai’s property market maintains resilience through ongoing regional tensions, with industry leaders citing structural advantages and a diversified buyer base as key factors supporting continued investor confidence across all segments.