The luxury properties market, in other words, the prime properties market by definition is the first-class real estate market that usually includes the top 5 percent of the entire market within any major city or in the world. Dubai has the second largest number of prime properties (42,356) worldwide, following London, the winner by 68,189 in the number of properties, and followed by Sydney, Hong Kong, and Singapore.
Dubai’s apartments are known as luxury archetype. The emirate is reputable for its various top-notch properties and deliberately named as a luxury real estate destination.
Dubai’s luxury residential market had a tough year during Covid-19 breakout, thus slowly recovering from the initial slope. In fact, costs of apartments and villas on Palm Jumeirah, for example, has started showing an increase by 3 per cent since then. The total number of transactions of prime properties market have shrunk based on data form the Dubai Land Department since 2019 to date. The great World Expo was projected to fuel the city’s economy by drawing millions of investors and visitors to the city. However, the event is planned to be hosted between Oct 1 2021 and March 31 2022, awaited to deliver much-needed foreign investment to the property market.
During the same period, luxury villas markets such as Emirates Hills and Downtown Dubai are also exposing some signs of improvement in market performance. Although, the pandemic and expo’s postponement halted the high end developments while led the prime market into a slump, several projects are successfully finishing in preparation to the highly anticipated Expo.
6 top luxury projects in Dubai
Madinat Jumeirah Living
The stunning Madinat Jumeirah Living is the first freehold luxury apartments revolved around modern architecture, well-accessible roads and unique infrastructure for the comfort. The vibrant community contains contemporary apartments with generous layouts, mighty amenities, and designer made lobbies which never fails to complement the branding it brings amidst the Burj Al Arab. The environmentally friendly residentials, nestled with lush greenery within a Dubai’s hotspot, aimed to provide utmost luxury proposes 1- 4 bedrooms selections. The visual delightful neighborhood offers safety, serene spaces and fast access to the Dubai’s other landmarks. It’s truthfully an all-inclusive living experience in Dubai. The prices of one bedroom in Madinat Jumeirah Living starts from AED 1.4Mil spanning 876 sq ft. space.
Meraas’s City Walk is where the city’s creativity filled culture takes its root. The project composes urban and posh infill easily connected to the Downtown district and the iconic Burj Khalifa. Low-rise residentials of City Walk developed by Meraas have featured 1 to 4-bedroom apartments that are designed for high end buyers. Selling prices of 1-bedroom apartments minimum start from AED 1.2M to spacious 4-bed luxurious apartment which cost up to AED 11M. Projects are mostly on the rentals currently though represents most iconic luxury apartments for rent in Dubai.
Situated just off the coast, Bluewaters is a luxury lover’s dream destination featuring extravagant living style on a man-made island that is converting dreams to reality. Since its opening in 2018, it has been set to become one of the largest attractions for including the largest observation wheel, Ain Dubai, also is set to host the most beautiful island of numerous architecture fantasies in Dubai. Bluewaters Residence introduces unique luxury apartments built with impressive interior designs. Apart from that, perks of being a resident in the Bluewaters apartments may include enjoying Dubai’s popular landmarks as well as spectacular views of Arabian Gulf. Apartments in Bluewaters Residences, selections of 1 bedroom to 4 bedrooms, have full ceiling length glass windows for unobstructed marvelous view of the sea and the observatory wheel. And 5 bedroom apartments penthouses provide 360 view of the whole area- island and the sea. The prices of apartments in Bluewaters start from AED 1.06 Mil.
The world’s largest man-made island, Palm Jumeirah is home to some of the world’s iconic residential properties resonating a key leverage of Dubai’s luxury property market. The land comprises of a two kilometer long truck with spacious apartments and villas providing home for nearly 80,000 people with beautiful views and fantastic amenities, set by sophisticated restaurants and beach clubs. The island offers ultimate luxury lifestyle with most sought after apartments and places to live. Most apartments offer idyllic living combined with contemporary style elements on the beach front where residents can adore picturesque views of the sea. The cost of luxury apartment for sale in Palm Jumeirah is starting at AED 1 Mil. For smaller 1 bedroom.
Grand Bleu Tower 1 and Grand Bleu Tower 2 are sister projects of Emaar Beachfront with luxurious residentials with more than 500 high end apartment units. The whole Emaar Beachfront project is a 10 million square feet development situated in one of the most exclusive neighborhood in Dubai- Dubai Harbour. The towers offer 1- 3 bedroom lavish apartments and a few 4 bedroom penthouse units overlooking the fabulous Palm Jumeirah island. Emaar emphasizes the tower is the first Elie Saab effusively designed building in the world. The Lebanese designer made a new standard of luxury apartment in Dubai with his savoir-faire and signature designs. The style resembles 1930’s Art Deco District in Miami for its graphic contours, also features Miami style pool deck and infinity pool throughout its high end amenities. The marvelous development will then feature its other amenities like, restaurants and retail outlets on the ground level. The price starts from AED 2.06 Mil.
Amna Tower at Al Habtoor City, Sheikh Zayed Road is the last but not the least on this list of top 5 luxurious developments in Dubai. Set on the bank of Dubai Water Canal, the Amna Tower is a 73 storey ultra-luxurious development. One of the tallest residential towers in Dubai, Amna Tower provides undisturbed view of Dubai’s skyline to almost all of its levels. Apartments range from 1 bedroom up to 7 bedroom feature balconies, floor-to-ceiling windows, fully equipped kitchens and other premium finishes. The project also includes resort style deck comprises of an infinity pool and an open amphitheater with barbeque areas dedicated to its residences and visitors. Apartment costs start from AED 1.3 Mil.