Selling a villa in Palm Jumeirah for 130 million dirhams

Yesterday, real estate transactions in Dubai witnessed the registration of a deal to sell a villa on Palm Jumeirah for a value of 130 million dirhams.

The deal came in the Six Senses Palm Jumeirah project and is the highest sale achieved in the project to date.

It is also one of the ten most expensive brand name residences sold in 2024.

Sotheby’s International Realty said in a statement that the deal highlights the continued growth of the luxury branded housing sector and the strength of the off-plan real estate market in Dubai.


The statement stated that branded housing is witnessing an unprecedented rise in Dubai, as sector data revealed that sales worth 28.8 billion dirhams were recorded in the first half of 2024 alone, representing 12.6% of the total value of transactions in the city. This staggering figure represents a 44% year-on-year increase in transaction volume for branded residences.

The appeal of a prestigious brand is a key driver of this growth, as developers seek to differentiate their projects in a competitive market.

This trend is particularly evident in the luxury real estate sectors, evidenced by a 43% increase in new branded projects between June 2022 and June 2024, including 17 new launches comprising 7,262 units in the first half of this year alone.