On Thursday, one of the biggest land deals of the year happened in Dubai's real estate market. A plot of land on Palm Jumeirah sold for Dh1.86 billion. This shows that people are still interested in buying ultra-prime real estate in the emirate's most well-known areas.

The Dubai Land Department said that the site is 1.015 million square feet big, which makes it one of the biggest pieces of land to change hands on the island this year. The price of Dh1,823 per square foot shows that Dubai's luxury real estate market is still strong, drawing in wealthy buyers and investors from all over the world.

The record sale proves that Palm Jumeirah is one of the best places in Dubai to build ultra-prime homes. The man-made island has always been expensive because it is on the ocean, has good infrastructure, and there isn't much land that can be developed.

The price of Dh1,823 per square foot reflects how much land value in Palm Jumeirah has gone up in the last few years. This is so because lots of people want luxury villas, high-end apartments, and top-notch hotels and resorts.

The deal forms part of a range of multi-million dirham land sales that have taken place in Dubai so far in 2025 and demonstrates that investors are still very confident in the longer-term prospects for the emirate's real estate sector. With demand for upmarket residences and hotels remaining strong, ultra-prime areas like the Palm Jumeirah and Emirates Hills continue to see heavy investment from developers, as do other waterfront neighborhoods considered to be among the best known.

The Dh1.86 billion deal makes Dubai even more attractive to investors from around the world. In the luxury market, prime land assets are selling for record-high prices because they are rare, well-located, and have strong fundamentals.