Dubai: Palm Jumeirah villa sells for staggering Dh130 million
In another boost to Dubai’s ultra-luxury real estate market, a five-bedroom beachfront Signature Villa at Six Senses Palm Jumeirah has been sold for a staggering Dh130 million.
This landmark transaction represents the highest sale achieved in the project and secures its place among the top ten most expensive branded residences sold in 2024. The sale further highlights the continued growth of the prime and super-prime branded residences sector and the enduring strength of Dubai’s off-plan market.
“Super prime branded residences have become one of the driving forces in the global real estate market, attracting the attention of buyers in key cities like Miami, New York, and London,” says George Azar, CEO of Dubai Sotheby’s International Realty, which brokered the sale. “For high-net-worth individuals, branded residences provide a sense of assurance as they know they will be getting superior quality of design coupled with the highest standards of service. Dubai, which has become an epicentre for luxury living, holds the distinction for having the highest number of branded residences in the world and continues to set new benchmarks in that very exclusive space.”
This villa is one of only nine exclusive Signature Villas, where bespoke Six Senses service caters to the residents’ every requirement. The villa boasts hand-selected Italian marble teakwood finishes, along with high-end branded fittings. Fully serviced and managed by Six Senses, the villa is expected to be ready by October 2025.
Branded residences are experiencing an unprecedented surge in Dubai, with industry data revealing Dh28.8 billion in sales recorded in the first half of 2024 alone – a remarkable 12.6 per cent of the city’s total transaction value. This impressive figure represents a 44 per cent year-on-year increase in transaction volume for branded residences. The allure of a prestigious brand name is a key driver of this growth, as developers seek to differentiate their projects in a competitive market. This trend is especially prominent in the prime and super-prime segments, evidenced by a 43 per cent increase in new branded projects between June 2022 and June 2024, including 17 new launches comprising 7,262 units in just the first half of this year.
Lana Gorbach, associate director at Dubai Sotheby’s International Realty and a specialist in super-prime properties orchestrated this record-breaking sale. “For discerning buyers in today’s market, there is perhaps only one thing more significant than a prime location – the prestige of a globally recognized brand,” says Gorbach. “The Six Senses Palm Jumeirah offers precisely that irresistible combination. With the twin advantages of the Six Senses brand’s renowned hospitality and an enviable beachfront address on Palm Jumeirah, this villa represents an unparalleled investment opportunity in Dubai’s super-prime market.”
Dubai Sotheby’s International Realty is deeply involved in the prime and super-prime branded residences sector. This summer, Dubai Sotheby’s International Realty set a record for the most expensive villa sold on Jumeirah Bay Island for Dh175 million and recently closed the most expensive villa sale in Abu Dhabi to date at Dh130 million. Both of these record-breaking sales were in the super-prime segment.
