A furnished penthouse in Dubai is on sale for $136 million.

The sale of the Como Residences penthouse located on Dubai's exclusive Palm Jumeirah archipelago has become the most expensive transaction in the city's history. The penthouse is expected to be ready by the end of 2027.

New record sale

A new record has been set in Dubai with the sale of a penthouse, which does not yet exist, for an estimated $136 million (UAE dirham 500 million), CNN reported Tuesday. The 22,000-square-foot penthouse will have five bedrooms and will sit atop the 71-story Como Residences building. When completed, scheduled for completion in late 2027, these apartments will be nearly 1,000 feet high.

The previous record for the most expensive sale

The previous record for the most expensive sale in a luxury part of the UAE was set by the sale of an apartment at the Marsa Al Arab Hotel, which sold for about $114 million last spring.

Details of the deal

The Como Residences deal was done through Provident Estate with a base in Dubai. The penthouse includes a 360-degree "sky pool" and views of high-rises such as the world's tallest building, Burj Khalifa, as well as Dubai Marina, said Sam Khorani, a partner at Provident Estate. It is only known that the buyer represents Eastern Europe.

Como Residences amenities

Como Residences will have 76 apartments, ranging from two to seven bedrooms. The building will have a private beach, a 25 meter long pool for swimming lessons and a rooftop infinity pool.

Palm Jumeirah

Palm Jumeirah is an archipelago of man-made islands in the Persian Gulf that was completed in 2006. The archipelago is known for its luxury hotels, apartments and restaurants, as well as beach clubs.

Growing interest in the area

Dubai agent Chris Boswell, who is not connected to the deal, told CNN that the Como Residences penthouse is unique in its scale, even though there are many luxury apartments in Palm Jumeirah. Boswell added that he is seeing more buyers who are interested in living in the area, not just investing.

"For many years we have predominantly worked with speculative investors, but now Dubai is not the same development as it used to be, there are not cranes being built everywhere and people are coming here to live," said Bothwell. "I'm seeing more and more inquiries from the United States, Italy, France and the United Kingdom. "