Dubai’s ultra-luxury real estate market has reached new heights with the sale of a five-bedroom beachfront villa at Six Senses Palm Jumeirah for an astounding Dh130 million.
This landmark transaction not only marks the highest sale at the exclusive development but also secures the property’s place among the top ten most expensive branded residences sold in 2024.
The deal highlights the continuous growth of the prime and super-prime residential sectors in Dubai, reinforcing the city’s position as a global leader in luxury living.
The villa, one of only nine Signature Villas at the Six Senses Palm Jumeirah, offers residents a lifestyle of unrivaled luxury. Each villa is designed to offer bespoke services that cater to the unique needs of high-net-worth individuals.
The property features hand-selected Italian marble, teakwood finishes, and high-end branded fittings, offering a blend of timeless elegance and modern luxury.
The villa is fully serviced and managed by Six Senses, a brand renowned for its exceptional hospitality, and is slated for completion by October 2025.
George Azar, CEO of Dubai Sotheby’s International Realty, which brokered the sale, emphasized the growing global demand for super-prime branded residences.
“Super-prime branded residences have become one of the driving forces in the global real estate market,” said Azar.
“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.”
The sale of this villa further reinforces Dubai’s position as a hotspot for high-end real estate, particularly within the branded residences sector.
In the first half of 2024 alone, Dubai recorded Dh28.8 billion in sales for branded properties, accounting for 12.6% of the city’s total transaction value.
This marks a significant 44% year-on-year increase in transaction volume, demonstrating the growing appeal of properties associated with renowned global brands.
The allure of prestigious brand names is one of the key drivers behind the sector’s success. High-net-worth buyers are increasingly drawn to the combination of superior design and unparalleled service that comes with branded residences.
According to Lana Gorbach, associate director at Dubai Sotheby’s International Realty, the reputation of a globally recognized brand, coupled with a prime location, has become the top priority for luxury buyers today.
“The Six Senses Palm Jumeirah offers precisely that irresistible combination,” said Gorbach, who oversaw the record-breaking sale.
The Six Senses Palm Jumeirah represents the pinnacle of luxury living, with its enviable beachfront location and world-class amenities.
The sale of the Dh130 million villa is a testament to the ongoing demand for such exclusive properties in Dubai, further solidifying the emirate’s place as a leading destination for ultra-luxury real estate.
The Dubai real estate market has seen a surge in new branded projects, with a 43% increase in launches between June 2022 and June 2024.
This growth is fueled by the demand for luxury homes in prime locations, as developers continue to tap into the burgeoning super-prime segment.
The success of projects like Six Senses Palm Jumeirah indicates that Dubai’s branded residences market will continue to thrive in the coming years, attracting high-net-worth individuals from around the world.