The two-story duplex penthouse is 7,000 sq ft (700 square meters), with six rooms, seven bathrooms, a jacuzzi and sunbathing area, and a billiard room.
The apartment, owned by the Dubai-based Sahara Group, overlooks the world's tallest building, the Burj Khalifa, where the emirate is planning to stage the world's biggest New Year’s Eve party.
Sahara Group told the Al Arabiya news site that the annual rent of the duplex is approximately AED1.5 million ($408,000).
"As the demand on housing units rises in Downtown Dubai, more units overlooking Burj Khalifa will be made available in mid-February for AED 1.5 million," a company's spokesman said.
He added that the rent of the apartment is still below the normal price. The spokesman further said that property's selling price exceeded AED 24 million ($6.5 million) last year.