More than 6,700 millionaires relocated to Dubai in 2024 alone, and projections indicate an annual influx of 6,500 UHNWIs through 2026
Ultra-Luxury Nordic Villas Set to Elevate Dubai’s Real Estate Market
Dubai’s thriving real estate sector is poised for another landmark development with the launch of an exclusive collection of Nordic-style ultra-luxury villas in the Al Wasl district.
Valued at AED 1 billion, this prestigious project by fäm Real Estate Development is expected to captivate the interest of ultra-high-net-worth individuals (UHNWIs) and affluent global investors.
“As Dubai continues to command global attention in the real estate arena, this extraordinary collection of homes redefines luxury living with an exceptional fusion of design and lifestyle,” said Firas Al Msaddi, CEO of fäm Group.
The development will feature 10 meticulously designed villas and mansions, drawing inspiration from Scandinavian architecture. With clean lines, minimalistic aesthetics, and contemporary functionality, these residences aim to cater to discerning buyers seeking sophisticated yet understated living spaces. The project is projected to generate over AED 10 billion in sales in the coming year.
Dubai’s Growing Appeal to Global Wealth
Dubai has solidified its reputation as a haven for high-net-worth individuals. In 2024 alone, over 6,700 millionaires made the city their home, with an estimated annual influx of 6,500 UHNWIs expected through 2026. This consistent growth underscores Dubai’s position as a global hub for luxury real estate and investment opportunities.
The first phase of the Nordic by fäm project has already set a remarkable precedent. Earlier this year, two villas from the collection sold for AED 61.5 million and AED 70 million, showcasing the growing demand for such premium offerings.
Customizable Villas in Al Wasl District
Located in a non-gated community, these residences provide homeowners with the flexibility to customize their villas within the guidelines of the Dubai Development Authority. The neighbourhood is also equipped with 24/7 security, ensuring privacy and peace of mind for residents.
Surging Market Demand
The Dubai real estate market is experiencing record-breaking prices, particularly along the Jumeirah coastline. Recent off-plan projects have seen average sales prices reaching AED 14,000 per sq. ft., while villa plots are being valued between AED 3,000 and AED 8,000 per sq. ft.
“These exclusive villas reflect the evolving demands of a sophisticated clientele, offering a harmonious balance of modern design and functional elegance,” Al Msaddi added.
As Dubai’s skyline continues to evolve, developments like this reaffirm the city’s position as a beacon of luxury and innovation in the global real estate landscape.
