Saudi Royal Acquires AED 68M Bulgari Residences Penthouse
Jumeirah Bay Island • 52 days to close • 60% cash, 40% structured loan
The Client
Saudi hnwi based in Saudi Arabia.
The Challenge
A prominent Saudi HNWI sought a signature trophy asset in Dubai for personal use and portfolio diversification, with an emphasis on world-class finishes, security and discretion. Bulgari Residences represent the top 1% of Dubai luxury marketonly ~12 units existand are rarely transacted. The buyer was competing against other regional HNWIs. Execution required simultaneous coordination of: (1) ultra-private negotiations, (2) HNWI relationship access, (3) structured international financing compliant with Saudi regulatory requirements, (4) DLD registration under a family office entity and (5) end-to-end timeline management.
Our Approach
MRK leveraged 12-year UHNW relationship network across GCC to identify the current Bulgari Residences owner (a European business family). We brokered a confidential negotiation between principalsa rarity at this levelwith both parties represented by independent counsel. We structured a creative payment schedule: 40% at signing (AED 27.2M), 30% at legal completion (AED 20.4M), 30% at possession (AED 20.4M). This preserved seller liquidity and gave the buyer certainty of possession without tying up all capital. For financing, we coordinated a specialized HNWI lending product through a relationship lender (Mashreq Premier), structured to accommodate Saudi ownership documentation and Shari'ah-compliant structuring. We negotiated all developer transfer requirements and furnished art/furnishings (valued at AED 3M+) as part of the negotiationimportant symbolically and financially. Our legal team fast-tracked SPA drafting.
The Outcome
Closed AED 68M in 52 days. Buyer secured the asset at a negotiated premium to market (structured payment terms justified the price premium to the seller). Bulgari Resort Residences brand value and limited supply mean appreciation potential is strong. Title registered under a Saudi family office entity via DIFC structure. Post-close, MRK advised on security systems upgrade, private concierge staffing and international insurance. The buyer has indicated interest in a second Dubai acquisition (land plot or development stake) valued at AED 200M+.
Key Results
"Finding the right trophy asset is one challenge. Negotiating with the right buyer is another. MRK connected both sides and structured a deal that worked for everyone. The entire process was discreet and professional."
Services Provided
Privacy Notice: Client identities have been anonymized at their request. Transaction values, timelines and outcomes are accurate as recorded with the Dubai Land Department. This case study is presented to demonstrate MRK Real Estate's capabilities and expertise in complex transactions. Past performance is not a guarantee of future results.