As 2024 nears its close, the Dubai real estate market remains red-hot, driven by relentless development, surging demand, and a growing influx of wealthy investors. By mid-year, the market surged by 30%, buoyed by a 47.7% month-on-month increase in sales transaction volumes. Leading this momentum is Dubai Sotheby’s International Realty, which has consistently set new records across key areas like Jumeirah Bay Island, Emirates Hills, and Dubai Hills Estate. This upward trajectory reached new heights in November with two landmark sales: an AED 200,000,000 neoclassical mansion on Hills Grove’s Street of Dreams in Dubai Hills Estate, and an AED 130,000,000 branded Signature Villa at Six Senses Palm Jumeirah. Both transactions reflect a market teeming with confidence and positive sentiment, and underscore the role of Dubai Sotheby’s International Realty as a bridge between ambition and achievement.
On the Water: A Record-Breaker in Six Senses Palm Jumeirah
Branded residences are now firmly embedded in the DNA of the Dubai market, growing by 44% throughout 2024. This November, Dubai Sotheby’s International Realty cemented this market trend further with the sale of an incredible AED 130,000,000 five-bedroom villa in the Six Senses Palm Jumeirah. Led by Associate Director Lana Gorbach, this landmark transaction represents the highest sale in the project to date, adding another milestone to the Emirate’s rapidly evolving relationship with branded residences.
Scheduled for completion in late 2025, the villa sits at the intersection of thoughtful design and quiet indulgence. Natural stone, soft wood, and expansive glass frame a home that reflects its surroundings – private sands, calm waters, and a resort where world-class amenities meet simple pleasures.
For many buyers, the appeal of branded residences such as the Six Senses lies in certainty: of quality, of service, of experience. Such brands carry not only prestige and value in the name itself, but the promise of a curated, serviced lifestyle – a sharp contrast to more traditional ideas of home ownership.
Lana Gorbach summed it up perfectly: “Today’s buyers are redefining value. It’s no longer just about walls, views, or locations – it’s about trust. Six Senses Palm Jumeirah blends all three into one seamless experience.”
On the Green: A Classical Mansion in Hills Grove, Dubai Hills Estate
Further inland, on the tree-lined ‘Street of Dreams’ in Dubai Hills Estate, a nine-bedroom mansion in Hills Grove became a new benchmark, selling for AED 200 million. Facilitated by Senior Global Property Consultant Renit Shah, alongside another Dubai Sotheby’s International Realty Associate Director, this marks the highest sale ever recorded in the prestigious Hills Grove community.
If Dubai Hills Estate is a city within a city, then Hills Grove is its royal borough – a quiet stretch of land with just 26 custom-built homes, each carefully designed to command attention yet offer privacy.
The AED 200,000,000 residence feels both timeless and monumental. Its neoclassical façade – crisp, white, and assured – reveals interiors that are a study in restraint: clean lines, contemporary finishes, and moments of soft grandeur. Outside, a boomerang-shaped pool anchors the garden, framed by terraces that open toward panoramic views of the golf course and the Burj Khalifa in the distance.
Renit Shah reflected on the sale and the community’s rise: “Dubai Hills Estate has quietly cemented its place alongside legacy neighbourhoods like Emirates Hills. Homes here offer a lifestyle of balance – grand but grounded, exclusive but connected.”
This sale is part of a steady story unfolding in Dubai Hills Estate, where each new record becomes the foundation for the next. Beyond the exceptional quality of homes in this master-planned community, the appeal lies in the amenities on offer. Within the gates, residents enjoy access to a sprawling public park, championship golf course, world-class healthcare, and the 2 million square foot Dubai Hills Mall, which has an abundance of retail, dining, and entertainment options.
Momentum Meets Scarcity in the Market
The broader market context is equally telling. As of October, Dubai recorded 20,000 property transactions, reaching AED 60.5 billion in total value – a new record for the city. What makes this especially compelling is that even with a 50% increase in new supply during Q3, Dubai’s super-prime segment remains tight. Homes like those in Hills Grove or Six Senses Palm Jumeirah don’t just hold value – they drive it, raising benchmarks in a market where demand continues to outpace ready supply.
Chris Whitehead, Managing Partner at Dubai Sotheby’s International Realty, offered his perspective: “Demand has been surging across all of Dubai’s super prime communities, which is reflected in the quality and value of the exclusive listings we have been taking on, and in the transactions we have closed this year. We set new pricing records in Jumeirah Bay Island and on Palm Jumeirah and have now broken our own record twice in Hills Grove, underlining Dubai’s robust presence in the global real estate market.”
A December Worth Celebrating…
In the world of real estate, records come and go, but certain homes leave a lasting impression – whether it’s a neoclassical mansion with a unique boomerang-shaped pool or a branded residence that blends beautifully into the beach. As the year wraps up, these sales set the stage for what’s to come: a buoyant market defined by craftsmanship, value, and confidence.
