Dubai Records 412 Property Deals Above $10 Million; Palm Jumeirah Leads Luxury Market

The latest report from global property consultancy Knight Frank shows that Dubai recorded 412 luxury residential property sales valued at more than $10 million, or about AED 36.7 million, each during the first nine months of 2026. The combined value of these transactions reached $6.67 billion, equivalent to AED 24.47 billion.

According to the report, the number of transactions between January and September 2026 rose by 15.4% compared with the same period in 2025, when 357 deals were recorded.

86 Luxury Property Deals Recorded in Third Quarter of 2026

Knight Frank’s analysis shows that Dubai recorded 86 luxury residential property sales worth $10 million or more in the third quarter of 2026. Of these, 13 were valued at more than $25 million, or AED 91.75 million, each.

Of the 86 recorded transactions, 73 were valued at between $10 million and $25 million, with a combined value of $1.07 billion, equivalent to AED 3.93 billion.

The remaining 13 transactions were each valued at more than $25 million, with their combined value reaching $499.7 million, equivalent to AED 1.84 billion.

These 13 high-value transactions accounted for about 15% of all property deals worth $10 million or more in the third quarter, but represented nearly 32% of the segment’s total transaction value.

Palm Jumeirah accounted for five of the 13 transactions above $25 million, representing about 38.5% of deals in this category. Dubai Hills Estate and Emirates Hills each recorded two transactions in this price range.

Palm Jumeirah Leads Dubai’s Luxury Property Market

According to Knight Frank’s report, Palm Jumeirah was Dubai’s most active area for residential property transactions worth $10 million or more in the third quarter of 2026.

The area recorded 27 transactions with a combined value of $546.7 million, equivalent to AED 2.01 billion. This represented about 31% of all residential property deals worth $10 million or more between July and September, and 35% of their total value.

Jumeirah 2 ranked second by transaction volume, recording 10 deals with a combined value of $162 million, equivalent to AED 594.9 million.

Emirates Hills ranked third, with seven homes sold for a combined $147.7 million, equivalent to AED 542.5 million.

Dubai Hills Estate recorded six transactions worth $156.6 million, equivalent to AED 574.9 million.

Jumeirah Golf Estates also recorded six transactions, with combined sales of $89.9 million, equivalent to AED 330.1 million.

High-Value Deals Continue Despite Regional Conditions

Faisal Durrani, Partner and Head of Research for the Middle East and North Africa at Knight Frank, said Dubai’s luxury residential property market continued to record a high volume of transactions in the third quarter of 2026 despite exceptional geopolitical conditions in the region.

Highlighting Palm Jumeirah’s performance, he said the area recorded 27 transactions worth $10 million or more each, making it the most active location in Dubai’s ultra-luxury property market.

Palm Jumeirah Buyers Primarily Seek Homes for Personal Use

Louise Harding, Partner and Head of Residential for the UAE at Knight Frank, said Palm Jumeirah remained one of the most sought-after areas among luxury property buyers in Dubai.

She said most demand in the area came from buyers intending to use their properties as permanent homes or holiday residences.

Harding explained that Palm Jumeirah buyers were generally not seeking quick resales and short-term profits, but were instead purchasing properties primarily for personal use and residence in the area.