ADubai apartment has been sold for $112m, breaking property records in the city.

The apartment is in the Bulgari Lighthouse development and was sold for AED410m, according to Dubai real estate analysis firm Property Monitor. 

Reports said the 38,970 sq ft penthouse in the Jumeirah Bay Island development includes more than 13,000 sq ft of balcony and terrace space.

Dubai's most expensive property

Property Monitor did not reveal the broker behind the deal or the eventual buyer, but confirmed the record-breaking price.

In listings for the Bulgari Lighthouse, the majority of properties in the 27-storey tower are four and five-bedroom homes.

The three-storey sky villa on top of the tower has seven bedrooms, private study, family room, gym, spa and personal elevator access. Inspired by coral, the striking exteriors give views of the Arabian Gulf as well as back to the ever-changing skyline of Dubai. 

The highest price for a property ever recorded in Dubai was the $161m (AED598m) Mukesh Ambani paid for a villa in Palm Jumeirah last year.

Other properties sold last year included the Casa Del Sole mansion by Alpago Properties for AED302.5m ($82m) as well as a pair of custom-built Palm Jumeirah villas sold for AED280m ($76m) and AED145m ($39.4m).

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