Dubai's Luxury Real Estate Market Thrives with Record-Breaking Villa Sale
Palm Jumeirah Continues to Set New Benchmarks in Branded Residences
In a testament to Dubai's burgeoning ultra-luxury real estate market, a distinguished five-bedroom beachfront Signature Villa at Six Senses Palm Jumeirah has been acquired for an astonishing Dh130 million.
This landmark transaction not only marks the highest sale in the project but also positions the villa among the top ten most expensive branded residences sold in 2024, underscoring the robust growth of Dubai's prime and super-prime branded residences sector.
George Azar, CEO of Dubai Sotheby’s International Realty, which facilitated the sale, remarks, 'Super prime branded residences have emerged as a pivotal force in the global real estate market, captivating buyers in key cities such as Miami, New York, and London.
For high-net-worth individuals, these residences offer an assurance of exceptional design and unparalleled service quality.
Dubai, an epicentre for luxury living, proudly boasts the highest number of branded residences worldwide, consistently setting new standards in this exclusive domain.'
The villa is a testament to meticulous craftsmanship, featuring hand-selected Italian marble teakwood finishes and top-tier branded fittings, fully serviced and managed by Six Senses, with completion anticipated by October 2025.
Branded residences in Dubai are experiencing remarkable demand, evidenced by Dh28.8 billion in sales documented during the first half of 2024 alone, capturing 12.6% of the city's total transaction value.
This represents an impressive 44% year-on-year increase in transaction volume for branded residences, driven by the allure of prestigious brand names that allow developers to distinguish their projects in a competitive market.
Notably, the prime and super-prime segments have seen a 43% increase in new launches between June 2022 and June 2024, comprising 17 new launches with 7,262 units in the first half of this year alone.
Lana Gorbach, Associate Director at Dubai Sotheby’s International Realty and a specialist in super-prime properties, orchestrated this record-breaking sale.
She emphasizes, 'For today's discerning buyers, there is perhaps nothing more significant than a prime location, except the prestige of a globally recognized brand.
The Six Senses Palm Jumeirah promises this unmatched combination of renowned hospitality and a privileged beachfront address, making it an unrivaled investment opportunity in Dubai’s super-prime market.'
Dubai Sotheby’s International Realty continues its influential role in the prime and super-prime branded residences sector.
This summer, they set records with the highest villa sale on Jumeirah Bay Island for Dh175 million and the most expensive villa sale in Abu Dhabi to date at Dh130 million, both within the super-prime market.
This landmark transaction not only marks the highest sale in the project but also positions the villa among the top ten most expensive branded residences sold in 2024, underscoring the robust growth of Dubai's prime and super-prime branded residences sector.
George Azar, CEO of Dubai Sotheby’s International Realty, which facilitated the sale, remarks, 'Super prime branded residences have emerged as a pivotal force in the global real estate market, captivating buyers in key cities such as Miami, New York, and London.
For high-net-worth individuals, these residences offer an assurance of exceptional design and unparalleled service quality.
Dubai, an epicentre for luxury living, proudly boasts the highest number of branded residences worldwide, consistently setting new standards in this exclusive domain.'
The villa is a testament to meticulous craftsmanship, featuring hand-selected Italian marble teakwood finishes and top-tier branded fittings, fully serviced and managed by Six Senses, with completion anticipated by October 2025.
Branded residences in Dubai are experiencing remarkable demand, evidenced by Dh28.8 billion in sales documented during the first half of 2024 alone, capturing 12.6% of the city's total transaction value.
This represents an impressive 44% year-on-year increase in transaction volume for branded residences, driven by the allure of prestigious brand names that allow developers to distinguish their projects in a competitive market.
Notably, the prime and super-prime segments have seen a 43% increase in new launches between June 2022 and June 2024, comprising 17 new launches with 7,262 units in the first half of this year alone.
Lana Gorbach, Associate Director at Dubai Sotheby’s International Realty and a specialist in super-prime properties, orchestrated this record-breaking sale.
She emphasizes, 'For today's discerning buyers, there is perhaps nothing more significant than a prime location, except the prestige of a globally recognized brand.
The Six Senses Palm Jumeirah promises this unmatched combination of renowned hospitality and a privileged beachfront address, making it an unrivaled investment opportunity in Dubai’s super-prime market.'
Dubai Sotheby’s International Realty continues its influential role in the prime and super-prime branded residences sector.
This summer, they set records with the highest villa sale on Jumeirah Bay Island for Dh175 million and the most expensive villa sale in Abu Dhabi to date at Dh130 million, both within the super-prime market.
