Dubai’s ultra-luxury real estate market is experiencing robust growth, driven by strong demand and limited supply. In 2024, sales of villas and apartments priced above AED 15 million reached AED 71 billion for the second consecutive year, marking a 688% increase since 2015. Despite over 326,000 properties under construction, only 16,500 fall into the luxury or ultra-luxury category, with 72% of these in the early stages of development. This scarcity is expected to sustain price growth into 2025. Firas Al Msaddi, CEO of fäm Properties, highlighted the exclusivity of the market and anticipates continued demand, especially with a projected annual influx of 6,500 high-net-worth individuals through 2026. Prime areas like Palm Jumeirah, Jumeirah Bay Island, and Emirates Hills face critical shortages of ultra-luxury villas, keeping demand high. Additionally, ready ultra-luxury apartments are in short supply, leading to increased prices and a focus on genuine branded residences.
Dubai’s Ultra-Luxury Real Estate Market Set for Continued Surge in 2025 Amid Scarcity of Ready Properties
