Dubai's real estate market is seeing a surge in sales of ultra-luxury properties driven by ultra-high-net-worth individuals (UHNWIs) moving to the country. In just the past two years, over 100 properties worth Dh100 million or more have sold across Dubai and Abu Dhabi with prime locations like Palm Jumeirah, Jumeirah Bay Island and Emirates Hills leading the charge.

The highest sale in Dubai was a Dh600 million mansion in Palm Jumeirah in 2022 followed by a Dh500 million penthouse in Como Residences. Other major sales include a Dh420 million penthouse at Marsa Al Arab and a Bulgari apartment at Dh410 million.

Many buyers including those from the US, the UK and Russia are drawn to Dubai for its favorable tax system, safety and high quality of life. In addition to luxurious homes, these properties offer world-class amenities like private cinemas, spas and beachfront access.

Demand for these high-end homes is expected to remain strong especially with Dubai's limited beachfront properties. Developers are responding with new projects priced in the hundreds of millions, capitalizing on the growing market. With more millionaires relocating to Dubai, the luxury real estate market is poised to continue its upward trajectory.