Palm Jebel Ali has overtaken Palm Jumeirah as Dubai’s top ultra-luxury residential property market, according to data released by Penthouse.ae.
Dubai recorded 2,489 residential property transactions priced above AED20 million during 2025. The figures highlight continued demand from ultra-high-net-worth individuals, based on data from Property Monitor.
“Dubai’s ultra-luxury property market has entered a new phase of maturity. What we are seeing now is not just growth in transaction volumes, but a structural evolution in buyer preferences. Ultra-high-net-worth clients are increasingly drawn to large-scale, waterfront-led master developments such as Palm Jebel Ali and The Oasis, while established destinations like Palm Jumeirah continue to command strong demand for ready, best-in-class homes. This diversification is a clear sign of the market’s long-term strength,” Marcus Andersson, Head of Luxury Sales at Penthouse.ae and Off Plan at Metropolitan Premium Properties said in a statement.
Off-plan homes account for most Dubai ultra-luxury transactions
Off-plan homes accounted for 64 per cent of all ultra-luxury transactions, representing 1,604 sales. Ready properties made up the remaining 36 per cent, with 885 transactions.
The data indicate buyer activity across both future and completed developments.
Palm Jebel Ali recorded 517 transactions above AED 20 million, accounting for 21 per cent of total ultra-luxury deals in Dubai during 2025. Sales in the area reached AED 12.4 billion, the highest value recorded for any location in the emirate.
Penthouse.ae stated that one of its agents completed five villa sales in Palm Jebel Ali with a combined value exceeding AED 143 million.
The Oasis ranked second, with 307 transactions, representing 12 per cent of the ultra-luxury market.
Palm Jumeirah placed third with 273 transactions. While Palm Jebel Ali and The Oasis recorded only off-plan sales, Palm Jumeirah continued to account for completed ultra-luxury homes.
Additional locations with recorded ultra-luxury transactions included Dubai Hills Estate, Mohammed Bin Rashid City, Jumeirah and Downtown Dubai.
Business Bay logs Dubai’s highest-value property deal at AED 550m
Business Bay recorded the highest-value single transaction of the year. A sky mansion at Bugatti Residences by Binghatti sold for AED 550 million.
Penthouse.ae forecasts that ultra-luxury residential sales and rental transactions will grow by between 10 and 20 per cent year on year in 2026.
The company cited limited availability of villas, beachfront homes and penthouses, alongside continued inflows of ultra-high-net-worth residents.
Established locations including Palm Jumeirah, Emirates Hills and Dubai Hills Estate are expected to remain active markets, while Palm Jebel Ali and The Oasis are gaining activity as development expands south and west.
Dubai luxury housing market shows continued investor demand
Buyer behaviour has shown increased focus on design and execution, particularly in the rental segment, where completed homes are achieving higher rental values.
“The influx of ultra-high-net-worth individuals into Dubai is far from peaking. Global uncertainty elsewhere continues to drive wealthy individuals toward stable, business-friendly jurisdictions. Dubai’s low-tax environment, lifestyle offering and expanding ultra-prime residential supply position the city as one of the world’s most attractive destinations for UHNWIs, supporting sustained demand well beyond 2026,” Andersson added.
