High above the shimmering desert metropolis of Dubai, a rare opportunity has emerged for an ultra-wealthy buyer to claim a residence unlike any other.
A sprawling duplex penthouse spanning the 107th and 108th floors of the Burj Khalifa — the world’s tallest building — is now for sale, listed for roughly $49 million.
Perched nearly 2,300 feet above the ground, this unfinished “shell unit” offers a blank canvas for a visionary, and wealthy, investor willing to shell out millions more to transform it into a bespoke sky mansion.
The Burj Khalifa, a 2,722-foot architectural marvel completed in 2010 by Emaar Properties, towers over global landmarks like New York’s Empire State Building (1,454 feet) and Central Park Tower (1,550 feet), the latter being the tallest primarily residential structure.
The Dubai skyscraper’s 163 floors house a mix of residences, offices, retail and a 304-room Armani Hotel, alongside amenities such as Japanese gardens, padel courts and three public observation decks.
Yet, it’s this penthouse — nicknamed the “Sky Palace” — that claims the crown as the highest residential unit in the world, with commercial space occupying the floors above.
Asad Khan of Invest Dubai Real Estate, who represents the seller, describes the 21,000-square-foot duplex as a concrete skeleton awaiting customization.
“The penthouse, currently, we’re selling it as a shell unit,” Khan told The Post.
“It hasn’t got rooms or toilets or baths or kitchens or anything like that, so it’s just concrete ceilings, concrete floors and just glass all around,” he initially explained to Business Insider.
Renderings of the duplex show what the unit could potentially look like upon completion.
One floor spans 7,000 square feet, while the other stretches to 14,000, offering 360-degree views that Khan says stretch to the mountains of Ras Al-Khaimah on clear days.
“You’re looking down on all the other buildings below you — it’s called ‘Sky Palace’ because you’re above the clouds,” he added.
The price tag reflects its singular status.
“We’ve taken a number of comparable pricing strategies which took place at local other penthouses in the area,” Khan told The Post.
“And obviously, this being the world’s highest and in the most iconic building as well, it holds a premium. It’s a one-of-one trophy asset that can’t be replicated.”
Completing the space to an elite standard could add another $10 million, he estimates.
“If they were to spend about another $10 million on the restoration, they would get something ultra-luxury that nobody else has in Dubai at very, very high standards,” Khan added. “And I think it needs to have that level of spend on it to warrant a profitable outcome at the end when we come to resell it.”
The property boasts exclusive perks: a private indoor pool, a dedicated elevator system — requiring a 2-minute, two-lift journey from the ground to the top — and 12 parking spaces.
“The elevators and the lifts are super, super fast,” Khan said. “One gets you to the 73rd floor, and then from 73rd, there’s another lift that gets you to 107th or 108th, and they both take about a minute each.”
The seller, Karl Haddad, chairman and CEO of IRC Invest, acquired the unit in 2020 from Emaar Properties founder Mohamed Alabbar for an undisclosed sum.
Khan says Haddad, an investor juggling multiple ventures, lacks the bandwidth to oversee the buildout.
“He’s busy with other projects and other businesses that he has and doesn’t have the time to run such a project,” Khan told Business Insider. “He’s not a developer, he’s not a builder, or a designer — that’s not his game. He’s into investments.”
After a soft launch last year, the penthouse officially hit the market in early 2025, sparking unexpected interest from across the Atlantic.
“We’ve had a huge amount of inquiries from the US, which has been quite surprising,” Khan told The Post.
“Initially, when I was working on the project, I thought it would be a local family in the Middle East, in the UAE. But we’ve had so much interest from the US that it’s been overwhelming, and even several offers as well.”
Prospective buyers include agents representing Hollywood actors, sports figures — ranging from basketball players to NASCAR drivers — and even a rapper, we hear. Boxing icon Floyd Mayweather is among those who’ve inquired.
“They’re from various walks of life,” Khan said. “We had a huge amount of inquiries in the US — and I don’t know why that is.”
Dubai’s allure for Americans may tie to its booming population, up 3.85 million since March 2020, with expatriates accounting for 87% of that growth, per government figures.
The city’s luxury real estate market is sizzling, with the Burj Khalifa’s 900 residential units fetching between $623,000 and $27.2 million, according to Bayut, a real estate portal.
Khan sees the penthouse as a status symbol for globe-trotting elites rather than a primary home.
“I don’t think they’re going to live in it because the kind of people that we’ve been approached by — these people are traveling all around the world,” he said. “I think it’s more of a status symbol. ‘I’ve got this,’ or ‘I will have this.’ It just adds to the portfolio.”
If finished within 12 to 18 months — a timeline Khan deems feasible — the property could double in value, he predicts.
“Whoever takes this project on — and if they do it to the ultrawealthy level that it deserves — they will be rewarded accordingly,” he said.
“The supply is not there — the demand is there for buyers.”