Inside one of the world’s most expensive rentals

The four-bedroom penthouse costs the tenants $1.8 million per year. 

A Dubai apartment has broken records for the highest rent in the city’s history. 

It was leased for AED 4.4 million – equivalent to over $AU1,850,000 per year, or a whopping $35,600 each week. 

You could buy a brand new sedan every week with the money it costs to rent out this apartment. 

The tenants are reported to be a wealthy European family who recently returned to Dubai after a stay abroad. 

“[The tenants] bought an off-plan property, and while waiting for the completion, they decided to rent a place out,” agent Vladimir Minaev from Metropolitan Premium Properties tells Khaleej Times. 

Initially, the family rented out another apartment but it “was not suitable to their taste.” 

“They were expecting a bit higher level of amenities and service. So, they just decided to change the property,” Minaev says. 

The penthouse is located at the Royal Atlantis Resort & Residences on Palm Jumeirah, an archipelago of man-made islands shaped like a palm tree. 

The brand new 929-square-metre apartment comes with a hotel concierge service, and a wide range of luxury amenities. 

There’s a library, a home gym, a huge terrace, and a private infinity pool with panoramic skyline views. 

In the resort itself, there is a private beach, 17 restaurants, over 90 swimming pools, and the largest jellyfish aquarium in the world. 

In 2022, Beyoncé gave an hour-long private performance in the hotel for $US24 million. 

“The iconic destination is an ideal place for multimillionaires and superstars who seek an elevated lifestyle with direct access to the sea,” the listing says. 

“Opulent and luxurious living spaces in the project offer only the finest high-end finishes and uninterrupted views of the sea and the famous Dubai skyline.”