Luxury property firm, Luxhabitat Sotheby’s International Realty, has sold a five-bedroom residence at Baccarat Residences in Downtown Dubai for a record AED14,000 per square foot. The sale was reportedly for a sum of $55.3m and marks a major uplift in branded residences demand in prime areas combined with the demand for a premium brand. The Baccarat Residences, owned by Shamal, features 49 apartments across 24 floors, with each unit boasting between two and five bedrooms.
Meanwhile, the Baccarat property is set to open in Dubai in 2026 with 144 rooms and suites, along with 49 Baccarat-branded residences and four food and beverage outlets.