Off-plan apartment in Dubai’s Palm Jumeirah sells for Dh92.5 million

Dubai: Dubai’s property market recorded the sale of a luxury off-plan apartment for Dh92.5 million on Monday, underscoring the continued momentum of the emirate’s real estate sector.

According to data from the Dubai REST application, operated by the Dubai Land Department, the apartment spans about 11,520 square feet (approximately 1,070 square metres) and was sold at an average price exceeding Dh8,020 per square foot.

The property is located on Palm Jumeirah within the Armani Beach Residences development, one of the city’s high-end branded residential projects.

More broadly, total real estate transactions in Dubai reached around Dh2.4 billion by midday trading, while property sales alone exceeded Dh1.86 billion, reflecting sustained activity across the market.

Dubai’s luxury property segment has experienced exceptional growth in recent years, fuelled by increasing demand from high-net-worth individuals drawn to the emirate’s investor-friendly regulatory framework, favourable tax environment and global lifestyle appeal.

In 2025, Dubai recorded 6,668 luxury property transactions worth a combined Dh143.8 billion, compared with 4,735 deals valued at Dh99.3 billion in 2024, marking a 41 per cent increase in transaction volume and a 45 per cent rise in total value.