Tower has accounted for $2.4 billion of home sales in Dubai since 2010, the highest for any single building in the city.
Burj Khalifa: World’s Tallest Building Achieves AED467.1 Million in Home Sales for 2024
The iconic Burj Khalifa, renowned as the tallest building in the world, reported home sales worth an impressive AED467.1 million ($127.17 million) in 2024. This achievement reaffirms Dubai’s status as a premier destination for luxury real estate globally. As the tower celebrates its 15th anniversary, it continues to captivate high-net-worth individuals, preserving its allure over the years.
Data from Knight Frank, a global property consultancy, revealed that by the end of 2024, average prices in Burj Khalifa stood at AED3,000 per square foot. This figure is 78.5 percent higher than the city-wide average of AED1,680 per square foot, showcasing the tower’s premium standing.
12.9% Price Increase for Burj Khalifa Homes
Knight Frank’s analysis also showed that residential sales in Burj Khalifa for 2024 were only 5.7 percent lower than the AED495.2 million recorded in 2023. This occurred despite a 27 percent drop in the number of homes available for sale in the tower.
As a testament to Dubai’s ambition, Burj Khalifa symbolizes the city’s global success and growth. Dubai has recorded AED1.77 trillion in total residential sales since 2010, with Burj Khalifa contributing 0.5 percent of this amount.
“The Burj Khalifa’s 15-year milestone aligns with a period of record-breaking demand in Dubai’s residential market. City-wide property prices rose 19.1 percent in 2024, while the Burj Khalifa saw a remarkable 12.9 percent growth. This performance is especially impressive given the limited availability of properties for sale,” explained Faisal Durrani, partner and head of research, MENA.
98 Non-Branded Residences Sold in 2024
Knight Frank reported that 98 non-branded residential units were sold in Burj Khalifa last year, with an average transaction value of AED4.8 million per unit. The highest price per square foot in this category was AED4,391 for a two-bedroom apartment, which sold for AED9.7 million.
Additionally, 18 branded residences were sold in 2024, further highlighting Burj Khalifa’s appeal in the ultra-luxury market. The priciest branded residence, a five-bedroom unit, sold for AED44 million at AED4,987 per square foot, exceeding the highest price per square foot in the non-branded category.
“One of the key factors driving Dubai’s property market is its rising popularity among high-net-worth individuals. These affluent buyers are investing in Dubai’s luxury homes for personal use, reshaping the city’s residential market,” commented Petri Mannila, partner and head of prime residential, Dubai.
Burj Khalifa Contributes $2.4 Billion to Dubai’s Real Estate Market
Even properties with views of Burj Khalifa command premium prices. In 2024, Downtown Dubai recorded its highest-ever sale: a four-bedroom, dual-story Kempinski-branded penthouse with Burj Khalifa views, sold for AED80 million by Knight Frank.
Since its inauguration in 2010, Burj Khalifa has remained a cornerstone of Dubai’s real estate landscape. The tower has contributed AED8.8 billion ($2.4 billion) to home sales, making it the highest-grossing single building in Dubai’s property market. This figure is 43 percent higher than Atlantis The Royal, which ranks second with AED6.2 billion.
Knight Frank’s analysis further shows that Burj Khalifa accounts for 6.2 percent of the total value of residential sales in Downtown Dubai since 2010, amounting to AED144.2 billion.
With 1,862 units sold to date, 76 percent of Burj Khalifa’s residences are now valued at over $1 million. As Dubai’s real estate market continues to thrive, Burj Khalifa stands as a timeless emblem of luxury, architectural excellence, and innovation, solidifying its position as a premier address for the world’s elite.
