Dubai Off-Plan Luxury Apartment Sells for Dh166M Reflecting Market Strength
Gulf News
A Dh166 million off-plan luxury apartment sale in Dubai highlights sustained demand in the ultra-prime property sector.
Record-Breaking Off-Plan Sale in Dubai's Luxury Market
A luxury off-plan apartment in Dubai has changed hands for a staggering Dh166.07 million, underscoring the robust demand for ultra-prime real estate in the emirate. The apartment, situated in the prestigious Aman Residences Dubai within Jumeirah Second, spans 10,021.39 square feet, achieving an average price of over Dh16,572 per square foot according to Dubai Land Department’s Dubai REST application data.
Divergence in Luxury Market Trends
Dubai's luxury real estate sector has revealed a noticeable split in performance during the first half of 2026, especially across properties priced above Dh36.7 million (approximately $10 million). While luxury villas dominate growth in both transaction volume and value, luxury apartments—particularly in well-established neighborhoods and branded residential developments—maintain strong pricing, confirming continued appetite for premium urban living.
Ultra-Luxury Segment Shows Strong Growth
The ultra-luxury segment recorded 269 transactions totaling Dh16.57 billion in the first six months of 2026. This represents an 11.2% year-on-year increase in deal numbers and an 11.5% growth in total value compared with the same period in 2025. This momentum follows a remarkable 2025 performance, where Dubai registered 6,668 luxury property sales worth Dh143.8 billion, surging from 4,735 sales valued at Dh99.3 billion in 2024—an annual increase of 41% in transactions and 45% in value.
Daily Transaction Snapshot Highlights Market Activity
On a recent day, the Dubai real estate market recorded total transactions of Dh2.05 billion across 803 deals per Dubai REST data. Property sales alone exceeded Dh1.44 billion over 611 transactions. Residential units made up the majority with 539 sales, alongside 44 buildings and 28 land transactions.
Ready property sales contributed Dh587.06 million from 180 transactions, including 134 residential units, 18 buildings, and 28 land plots. Off-plan properties accounted for Dh857.41 million via 431 transactions, with 405 residential units and 26 buildings sold, illustrating strong investor interest in Dubai’s development pipeline and new project launches.
Implications for Real Estate Agents
This landmark Dh166 million off-plan apartment sale demonstrates the vibrant demand for ultra-luxury residences in Dubai, particularly in branded developments in prime locations. Real estate agents should focus on cultivating relationships with high-net-worth buyers and monitoring growth areas in luxury apartments alongside villas. Staying informed on transaction trends and new project launches will be essential to capitalizing on the emirate’s dynamic ultra-prime property market.
Based on reporting from Gulf News. Summary and analysis by Propilot AI.
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