Dubai, the Hottest Luxury Market in the World, Is Getting a Fresh Influx of Sparkling New Builds
Developments launching units to the market this season include freestanding waterfront villas and towers with long lists of wellness amenities
Dubai home sales continued to pick up pace at the start of this year, building on last year’s boom, when transaction levels hit an all-time high.
The city's thriving high-end property market continues to attract affluent buyers from around the world seeking luxurious homes in the desert metropolis. In January, the city logged a record AED 35.4 billion (US$9.6 billion) in sales, a 27% increase from the same period last year, according to the Dubai Land Department. Last quarter, Dubai led the world in sales of residential properties $10 million and up.
“There have been some very exciting developments to kick off the year—interest and mortgage rates are dropping after some intense hikes, which is good news for a lot of potential buyers,” said Mark Richards, managing director of Dubai-based brokerage LuxuryProperty.com.
“Those who are just on the cusp of the prime real estate market have an ideal opportunity to make the jump to the next level with access to great financing options,” he added.
Dubai had the largest luxury-home price growth among 30 global cities in 2023 with values surging 17.4%, Mansion Global previously reported. However, price gains have now begun to slow, making the city even more attractive to potential home buyers. British real estate company Savills predicted the U.A.E. city’s housing activity will return to more normal levels in 2024, with price growth between 4% and 5.9%.
“Despite its recent exceptional performance in leading global price growth, this trend is unlikely to be sustained for much longer. It is anticipated that by the end of 2024 or the beginning of 2025, the market will witness a moderation in growth levels or even a potential correction in certain areas or types of properties,” said Oriol Font, CEO of Luxhabitat.
“Dubai is poised for further development as a prominent residential destination for high-net-worth individuals,” Font said, adding that buyers are attracted by the lifestyle it offers compared to other countries in the region.
Below are five luxury projects that have launched sales since the beginning of the year.
Altissima Al Barari, Sheikh Mohammed Bin Zayed Road, Dubailand
Altissima is the final and most luxurious addition to Al Barari, an eco-friendly development inspired by the “tree of heaven,” also known as Ailanthus altissima.
The collection offers 23 seven-bedroom villas that come with a minimum of eight bathrooms. Internally, each home boasts an elevator, a car wash, dual walk-in closets, a nanny room, a driver’s room, a maid’s room, a home cinema, an office, a roof lounge, a hot tub, a gym and a spa.
Each property has a swimming pool, too, along with a garden, and parking for three cars. Additionally, there is a barbecue area, a pool house with a kitchen and bar, as well as a sunken seating area. Each villa also comes with its own altissima tree planter.
The development features many health and wellness facilities, such as a sports complex, jogging tracks, a 6-kilometer cycling track, a spa, and a library that also serves as a business center. It also offers plenty of entertainment venues including an open air cinema, a full-service hair salon, a nail salon and an award-winning organic restaurant.
Sales of Altissima Al Barari were launched in January.
Number of Units: 23
Price Range: Starting from AED 40 million
Developer/Architect: Al Barari Dubai
Unit Sizes: Seven-bedroom villas
Amenities: Award-winning organic restaurant the Farm, a retail center, spas, gyms parks, landscaped gardens, urban beach and lagoon, cycling track and jogging trails.
Mercedes-Benz Places, Al Asayel St., Downtown Dubai
Nestled in the heart of Dubai, this development is the first branded residence by automaker Mercedes-Benz in the world. A collaboration between the luxury car maker and Emirati property developer Binghatti, the development draws upon the creative heritage of both brands and features a distinctive bullet-shape facade.
Towering 341 meters above the scenic Dubai Water Canal, the 65-story building includes 150 apartments and penthouses. Residents will be minutes away from Dubai Mall and the avant-garde Museum of the Future. The project also offers unobstructed views of the iconic Burj Khalifa tower.
All units boast ceiling heights of 4.2 meters, or almost 14 feet, providing a sense of spaciousness and luxury. Each unit comes with its own private pool, offering residents a place to relax within the confines of their home.
The building will also offer a host of high-end and tailored services, including chauffeurs and a concierge, automated valet parking and infinity swimming pool terraces.
Mercedes-Benz Places by Binghatti was launched earlier this year and construction is expected to be completed in 2026.
Number of Units: 150
Price Range: Starting from AED 8.9 million to AED 100 million
Developer/Architect: Binghatti
Unit Sizes: Two-, three- and four-bedroom apartments, and five-bedroom penthouses
Amenities: Restaurants, sports and wellness zones, lounges, electric vehicle charging stations, chauffeur service, valet parking. Each unit will come with a private swimming pool.
Harrisoni La Mer, La Mer Beach, Jumeirah
Situated on the La Mer beach in Jumeirah, the Harrisoni villas are a tranquil haven in one of Dubai’s prime locations.There were only two villas offered at the January launch. The name “Harrisoni” comes from a rare species of coral found only in the Arabian Gulf. Each villa is unique, hidden from outsiders, and only accessible to the future residents and their guests. At the same time, the project is only 10 minutes to the city center and 100 meters to the shore.
Boasting a total area that spans more than 10,700 square feet each, the villas feature floor-to-ceiling windows facing the sea, offering future residents fresh ocean air, scenic sunsets and the sound of waves. Homeowners can also enjoy the cityscape, with a roof terrace offering unobstructed views of Burj Khalifa and Dubai’s skyline.
Designed by XBD Collective, the interiors of the villas are a fusion of Miami-style architecture and traditional Arabic influences. Natural materials like limestone and wood complement contemporary styles, and strategic use of natural teak wood adds warmth.
Number of Units: 2
Price Range: Starting from AED 90 million
Developer/Architect: Almal Investments/XBD Collective
Unit Sizes: Each unit has five bedrooms, two maid rooms and seven bathrooms
Amenities: Swimming pool, gym, steam room and sauna, barbecue area, children’s play area, 24-hour concierge services and underground parking.
