Jumeirah Bay’s Bulgari Lighthouse Dubai has the top average value per sqm
After having surveyed 387 High Net Worth Individuals (HNWIs) of India, Saudi Arabia, United Kingdom, China, Hong Kong, and Singapore, Knight Frank and YouGov said in their report Asia Destination Dubai that the UAE’s real estate sector could attract 10.3 billion US Dollars (press release and full report). In 2024, total real estate transactions for residential, offices and hotels amounted to 207 billion, up 27% from 2023, Dubai’s top ranking in the MENA region.
For the second year in a row, Dubai emerged as the world’s most active market for residential property sales worth more than 10 million with a total of 435 deals, more than London and New York in aggregate. Residential property investments amount to 100 billion.
Knight Frank research pointed out that 71% the HNWIs that pooled said that Dubai is their top destination for the purchase of real estate assets. Saudi (80%), UK (74%), Indian (69%), and Est Asian (61%) HNWIs are quite keen on real estate investments in Dubai Marina, Dubai Hills Estate and Emirates Hills. The average budget for buying a house in Dubai is 32 million (45.7 million for Saudis).
Residential property sales value hit 27 billion as of 4 March, Tuesday. In 1Q25, investors sold 111 houses worth above 10 million, the quarterly peak ever.
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In 2024, Dubai’s residential market momentum pushed the assets value by 19.1%, for an average price of 404.4 euros per sqf or 4.343 euros per sqm while branded residences reached further peaks. The developments of a further 8200 branded houses will complete in the next four years, Knight Frank says. In 2024, investors sold 4261 assets of this kind for an aggregate value of 7.8 billion AED (1.88 billion euros). The Lana – Dorchester Collection, a Business Bay’s 16600 sqf (1540 sqm) five bedrooms house, sold at 8.376 AED per sqf (in the region of 21590 euros per sqm) for a total of 139 million AED (in the region of 33.3 million euros). Bulgari Lighthouse Dubai, an asset that Meraas is developing in Jumeirah Bay for a delivery in 2026, has the top average price of 11385 AED per sqf (29346 euros per sqm) with a median price for apartment of 73.5 million AED (17.6 million euros).
