Dubai Sotheby’s International Realty announces $35.4m sale of branded real estate villa in Palm Jumeirah.
Dubai Sotheby’s International Realty Sets New Record with AED 130M Villa Sale at Six Senses Palm Jumeirah
Dubai Sotheby’s International Realty has announced a landmark sale of a luxurious five-bedroom beachfront Signature Villa at Six Senses Palm Jumeirah for an impressive AED 130 million ($35.4 million).
This record-breaking transaction stands as the highest sale within the project, placing it among the top ten most expensive branded residences sold in 2024. It also underscores the remarkable growth of Dubai’s prime and super-prime branded residences market, further reinforcing the strength of the city’s thriving off-plan real estate sector.
The Rise of Branded Residences in Dubai
Branded real estate is becoming a defining feature of Dubai’s luxury property market. According to George Azar, CEO of Dubai Sotheby’s International Realty, “Super-prime branded residences are reshaping the global real estate landscape, attracting high-net-worth buyers from cities like Miami, New York, and London.”
Azar highlighted that these residences offer more than just luxury—they provide assurance of superior design, exceptional service, and unmatched lifestyle experiences. He added, “Dubai has established itself as a global hub for luxury living, boasting the largest portfolio of branded residences worldwide and continually setting new benchmarks in this exclusive segment.”
A Masterpiece in Design and Luxury
The sold villa showcases an extraordinary blend of opulence and sustainability, featuring hand-selected Italian marble, premium teakwood finishes, and high-end branded fittings. Fully managed by Six Senses, the property offers residents access to world-class resort amenities and services, ensuring a lifestyle defined by comfort and exclusivity. The villa is scheduled for completion by October 2025.
Unprecedented Growth in Dubai’s Branded Residences Market
Branded residences are experiencing unparalleled demand in Dubai. Industry data reveals AED 28.8 billion ($7.8 billion) in sales during the first half of 2024 alone, accounting for 12.6% of the city’s total transaction value. This marks a 44% year-on-year increase in transaction volume, driven by the allure of prestigious brand associations.
Developers are leveraging globally recognized brands to stand out in a competitive market, particularly in the prime and super-prime segments. Between June 2022 and June 2024, new branded projects surged by 43%, with 17 new launches adding 7,262 units in the first half of this year alone.
A Testament to Prestige and Location
Lana Gorbach, Associate Director at Dubai Sotheby’s International Realty, orchestrated the record-breaking sale. She emphasized the appeal of branded residences, stating, “For today’s discerning buyers, the prestige of a globally recognized brand often outweighs even a prime location. The Six Senses Palm Jumeirah combines the renowned hospitality of the Six Senses brand with an enviable beachfront address, offering an unmatched investment opportunity in Dubai’s super-prime market.”
Record-Breaking Success for Dubai Sotheby’s International Realty
This sale adds to Dubai Sotheby’s International Realty’s impressive track record in 2024. Earlier this year, the company set a new benchmark with the AED 175 million ($47.6 million) sale of a villa on Jumeirah Bay Island. They also achieved Abu Dhabi’s most expensive villa sale to date, closing at AED 130 million ($35.4 million).
As Dubai continues to solidify its position as a global leader in luxury real estate, record-breaking transactions like these reflect the city’s unrelenting appeal to high-net-worth individuals and investors worldwide.
