Last year was another roller coaster for the Dubai real estate market, with the city’s property market heating more than ever before.
But which developers sold the most expensive apartments in the city?
According to data from Property Monitor, OMNIYAT properties dominated the $10mn+ apartment space, with a 36.8 percent market share.
In second place was MERAAS with 12.9 percent, followed by SELECT GROUP in third place with 9.7 percent market share. AHS PROPERTIES and NAKHEEL rounded out the top five, with a 9.4 percent and 5.1 percent market share respectively.
Apartments in Dubai sold for $10mn+ developers market share in 2024. Source: Property Monitor
One location in the city that proved to be a particularly bright spot for asset price growth was Palm Jumeirah. The top developer in the $10mn+ market here was heavily dominated by OMNIYAT properties again, with the firm taking a staggering 58.1 percent market share, Property Monitor data shows.
SELECT GROUP took second place with 12.4 percent, and NAKHEEL took third place with 10.9 percent.
Apartments in Dubai sold for $10mn+ developers market share 2024 Palm Jumeirah. Source: Property Monitor
On the other end of the city in the luxury hotspot of Downtown and Business Bay, OMNIYAT properties again took top spot with a 43.5 percent market share, followed by H&H Development with an 18.4 percent market share, and EMAAR with a 9.3 percent market share.
Apartments in Dubai sold for $10mn+ developers market share 2024 Business Bay and Downtown. Source: Property Monitor
Last year saw Dubai’s real estate market achieving remarkable milestones. According to Property Monitor’s August 2024 report, the market recorded unprecedented transaction volumes, with expectations of surpassing 170,000 transactions by year-end.
For the year ahead, the outlook remains rosy, experts previously told Arabian Business.
Sector experts said Dubai’s luxury market has long been a cornerstone of its real estate success, and this is set to continue in 2025, as more high-net-worth individuals flock to the city.
Source of Article and all Credits to : CEO-Middle East
