The developer secured 58.1 percent market share on Palm Jumeirah, with AED2.18 billion from 33 transactions
OMNIYAT Properties: Pioneering Dubai’s Ultra-Luxury Real Estate Market
Dubai-based OMNIYAT Properties has solidified its position as a leader in the city’s ultra-luxury real estate market by achieving remarkable sales of AED2.94 billion ($800.4 million) in 2024. According to Property Monitor, a leading UAE real estate technology and market intelligence platform, the developer captured an impressive 37 percent share of all transactions within the $10 million-plus residential category, underscoring its dominance in this elite segment.
Setting the Benchmark in Super-Prime Real Estate
OMNIYAT Properties continues to lead the way in Dubai’s super-prime real estate market, which is defined by properties priced above $10 million. The company’s success reflects Dubai’s reputation as a global hub for opulent living. This exclusive segment attracts ultra-wealthy investors and connoisseurs of sophisticated lifestyles. With over two decades of experience, OMNIYAT’s portfolio of visionary developments and refined design stands as a testament to its preeminence in this competitive field.
Record-Breaking Performance in 2024
In 2024, OMNIYAT reigned supreme in Dubai’s luxury real estate sector, leading in both total sales value and transaction volume for properties valued above $10 million. Key areas such as Business Bay, Downtown Dubai, and Palm Jumeirah were at the heart of this success. Across 46 transactions, the developer achieved AED2.94 billion ($800.4 million) in total sales, securing a dominant 37 percent market share in the super-prime segment, according to Property Monitor.
Dominance on Palm Jumeirah
On the iconic Palm Jumeirah, OMNIYAT recorded exceptional sales of AED2.18 billion ($593 million) through 33 transactions, achieving a commanding 58.1 percent share of this ultra-luxury market. These figures confirm the developer’s status as a preferred choice for high-net-worth individuals seeking prime properties in this globally sought-after location. Similarly, in Business Bay and Downtown Dubai, OMNIYAT secured AED758.3 million ($206.4 million) in sales across 13 transactions, capturing 43.5 percent of the market share in these prestigious urban areas.
Iconic Projects That Redefine Luxury
Landmark projects have been instrumental in driving OMNIYAT’s success. The developer’s flagship ORLA Infinity, Dorchester Collection, Dubai, was a standout in 2024, with all 20 ultra-luxury duplex residences sold by August. The project generated AED1.4 billion ($385.4 million) in sales, making ORLA Infinity one of the most valuable developments on Palm Jumeirah. A single four-bedroom duplex was valued at nearly AED10,000 per square foot, setting a new benchmark for luxury on the island.
Similarly, The Lana Residences, Dorchester Collection, Dubai, added to OMNIYAT’s accolades. The final penthouse in this project was sold for a record AED139 million ($37.8 million) in May 2024, reinforcing OMNIYAT’s status as the premier developer for ultra-luxury properties. These milestones highlight the company’s ability to craft unique living spaces that combine architectural brilliance, artistry, and exclusivity.
A Vision of Excellence for the Future
Mahdi Amjad, the visionary Founder and Executive Chairman of OMNIYAT, reflected on the company’s continued success: “For over 20 years, OMNIYAT has redefined luxury by creating unparalleled living experiences. Dubai’s real estate market is a magnet for discerning global investors, and our achievements reflect the trust our clients place in us. The $10 million-plus segment epitomizes the evolution of luxury living, and we take pride in crafting masterpieces that meet the expectations of the world’s most discerning clientele. As we look ahead, we remain dedicated to delivering on our promise of innovation, artistry, and excellence in ultra-luxury living.”
