New Dh422 million deal for ultra-luxury Dubai apartment signals strong investor confidence
Off-plan residence on Jumeirah Peninsula achieves Dh13,525 per square foot
DUBAI – A luxury apartment in Dubai has been sold off-plan for Dh422 million, in a transaction being hailed as a powerful indicator of confidence in the emirate’s real estate market and the wider security environment in the UAE.
The sale involves a 31,201 sq ft residence at Aman Residences Dubai on the Jumeirah Peninsula, one of the city’s most prestigious waterfront developments. The transaction was confirmed by fäm Properties.
Dubai real estate is still gaining momentum. ????
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Data from DXBinteract, the real estate data platform developed by the company in partnership with the Dubai Land Department, shows that the deal valued the property at Dh13,525 per square foot.
Prime sale
The off-plan transaction places the residence among the most expensive apartments ever sold in Dubai. Spanning more than 31,000 square feet, the property forms part of an ultra-luxury residential offering that continues to attract global buyers seeking high-end assets in the emirate.
The confirmation of the sale comes at a time when Dubai’s property market has been closely watched internationally, with the emirate maintaining strong investor interest despite wider regional developments.
According to fäm Properties, the scale of the transaction demonstrates the strength of demand for ultra-prime property in Dubai, particularly among high-net-worth individuals looking for long-term investments.
Market signals
Firas Al Msaddi, CEO of fäm Properties, said the deal highlights the structural strength of Dubai’s real estate sector.
“The sale of an ultra-luxury villa at this level is particularly relevant in the current circumstances,” he said. “It underlines the fact that the Dubai real estate market is structurally stronger than it has ever been.”
He noted that more than 70 per cent of property transactions in the emirate are now driven by end-users rather than speculative buyers.
“Over 70% of transactions are now end-user driven, not speculative. The buyer base is globally diversified. Mortgage activity has doubled in four years.”
Al Msaddi added that regulatory developments have also strengthened the market.
“The regulatory environment has matured. The UBS Global Real Estate Bubble Index rates Dubai moderate risk, while cities like Miami and Tokyo sit in the high-risk zone. The fundamentals haven’t changed overnight because of regional events.”
Investor confidence
He also pointed to the role played by the UAE’s stability and security in sustaining international investor confidence.
“And of course, the enormous lengths that the UAE authorities have gone to in order to keep everyone who lives and works here safe at all times sends out the strongest possible message to investors,” Al Msaddi said.
“That has long been the case, and the effect of all this is highlighted by an apartment being sold for Dh422 million in the current climate, at a time when the eyes of the world are on Dubai and the Gulf region.”
“It’s a sale which says so much about the UAE as a whole, and in this case in particular about Dubai as one of the world’s leading destinations for wealthy real estate investors.”
“While headlines elsewhere paint one picture of the UAE, the reality for those of us living and working here is completely different.”