Dubai’s luxury real estate market has witnessed another remarkable milestone as a five-bedroom beachfront Signature Villa at Six Senses Palm Jumeirah was sold for an astounding Dh130 million. This groundbreaking deal stands as the highest transaction within the project and ranks among the top ten most expensive branded residences sold in 2024.
This sale highlights the flourishing demand for branded residences and reaffirms Dubai’s position as a global hub for ultra-luxury real estate. The prime and super-prime residential sectors continue to thrive, with the city’s off-plan market demonstrating exceptional resilience and growth.
A Benchmark for Branded Luxury
“Super-prime branded residences have become a driving force in global real estate, attracting buyers in cities like Miami, New York, and London,” stated George Azar, CEO of Dubai Sotheby’s International Realty, which facilitated the sale. “For high-net-worth individuals, these properties offer unparalleled quality in design and service. Dubai, with the highest number of branded residences globally, continues to redefine luxury living.”
The villa, part of a collection of nine exclusive Signature Villas, is managed and serviced by Six Senses. It features meticulously curated Italian marble and teakwood finishes, complemented by high-end branded fittings. The property is set to be completed by October 2025, promising its future owners bespoke luxury and world-class service.
Surge in Branded Residences
Dubai’s branded residences sector has seen exponential growth, with Dh28.8 billion in sales recorded in the first half of 2024, representing 12.6% of the city’s total real estate transactions. Year-on-year, this segment has experienced a 44% increase in transaction volumes. Developers are leveraging prestigious brand partnerships to stand out in an increasingly competitive market, with a significant focus on the prime and super-prime categories.
From June 2022 to June 2024, the number of branded projects surged by 43%, including 17 new developments comprising 7,262 units launched in the first half of 2024 alone.
Global Prestige Meets Iconic Location
Lana Gorbach, associate director at Dubai Sotheby’s International Realty and a super-prime property expert, facilitated this record-breaking sale. “Discerning buyers today prioritize more than just location; the prestige of a globally recognized brand is paramount,” said Gorbach. “With its beachfront address on Palm Jumeirah and the renowned Six Senses hospitality, this villa epitomizes luxury and represents an exceptional investment in Dubai’s high-end market.”
Sotheby’s Legacy of Record Sales
Dubai Sotheby’s International Realty has established itself as a leader in the super-prime sector. This sale follows other landmark deals, including the most expensive villa sold on Jumeirah Bay Island for Dh175 million and a record-breaking villa sale in Abu Dhabi for Dh130 million.
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