Off-plan sales of luxury villas exceeding AED 10 million in Dubai have skyrocketed by 240% over the past two years, highlighting a significant evolution in buyer sentiment and investor confidence. Recent insights from Savills Middle East reveal that this transformation is driven by the appeal of renovated villas and upscale branded residences, reshaping the luxury market landscape.
The latest data indicates a notable increase in the number of off-plan transactions within the AED 10 million-plus category, rising from 952 in 2022 to an impressive 3,223 by the end of 2024. In the first half of 2025 alone, deals in this price range reached 3,731, outpacing the entire total for 2024 by 15%. Currently, off-plan properties constitute 69% of all AED 10 million-plus transactions, a substantial rise compared to two years ago.
Dubai’s Ultra-Prime Market Booms
“Dubai is no longer a stopover market,” emphasized Andrew Cummings, Head of Residential Agency at Savills Middle East. “The buyers entering the prime space today are globally mobile, long-term focused, and looking to anchor their wealth in a city that offers both quality of life and asset strength.”
Cummings further noted that this surge in luxury sales reflects a “structural shift in demand,” underscoring the global capital’s profound interest in Dubai’s property market. Noteworthy off-plan projects driving this trend include Palm Jebel Ali, District One West, and The Acres. These significant developments, spearheaded by reputable developers and situated in desirable locations, are solidifying Dubai’s reputation as a premier destination for high-end real estate investment.
In contrast, transactions for existing villas priced over AED 10 million have remained stable at around 1,500 annual deals, suggesting that while the resale market holds steady, investor enthusiasm is increasingly gravitating towards newly constructed homes.
Revitalized Communities Break Price Ceilings
The transformation of older residential neighborhoods is also garnering attention. In Jumeirah Islands, for instance, only 8 properties surpassed the AED 10 million mark in 2021. By 2024, this figure skyrocketed to 89, and as of mid-2025, over 90% of transactions in the area have crossed AED 10 million, with 40% achieving prices above AED 20 million.
Remarkably, Jumeirah Islands has surpassed pricing thresholds established in Dubai’s historically elite district, Emirates Hills, reaching a record AED 6,375 per square foot.
Branded Residences Gain Global Momentum
Branded residences are emerging as a formidable force within Dubai’s luxury market, representing around 30% of AED 10 million-plus apartment sales. According to Savills, Dubai has now positioned itself as the most active branded residential market globally.
High-profile projects such as The Lana Residences, Bvlgari Residences, and One&Only One Za’abeel are attracting prices exceeding AED 10,000 per square foot, appealing to ultra-high-net-worth individuals drawn to exclusivity and exceptional design. Savills forecasts that by 2031, Dubai will account for 40% of all branded residential developments in the Middle East and Africa, emphasizing its rising stature in the global luxury real estate sector.