Dubai luxury property 2026: 412 deals above $10 million in nine months, Palm Jumeirah leads with 31% of sales

Dubai: The latest analysis from global real estate consultancy Knight Frank shows that 412 luxury property sales transactions in Dubai, each valued at over $10 million (approximately AED36.7 million), were recorded during the first nine months of 2026, with a total value of $6.67 billion (AED24.47 billion). The analysis revealed that the number of deals during the period from January to September last year increased by 15.4% compared to 357 deals recorded during the same period in 2025. During the third quarter of this year, the analysis noted that the emirate recorded 86 deals for the sale of luxury residential properties worth $10 million or more, including 13 deals that each exceeded $25 million (AED91.75 million). It explained that out of the 86 deals, 73 deals ranged in value between $10 million and $25 million, with a total value of $1.07 billion (AED3.93 billion). As for the remaining 13 deals, each exceeded $25 million in value, and their total value reached $499.7 million (AED1.84 billion). These highest-value deals represented about 15% of the total number of real estate deals valued at $10 million or more, but they accounted for approximately 32% of their total value. Palm Jumeirah recorded five out of 13 deals exceeding $25 million each, representing about 38.5% of the deals in this category, while Dubai Hills Estate and Emirates Hills each recorded two deals. According to the analysis, the Jumeirah Second area came in second place in terms of the total number of transactions (86 transactions), recording 10 transactions with a total value of $162 million (AED594.9 million), followed by the Emirates Hills area, where seven houses were sold for $147.7 million (AED542.5 million). Dubai Hills Estate recorded six deals with a total value of $156.6 million (AED574.9 million), while Jumeirah Golf Estates recorded six deals with a total value of $89.9 million (AED330.1 million). Faisal Durrani, partner and head of research for the Middle East and North Africa at Knight Frank, said that despite the exceptional geopolitical circumstances in the region, Dubai’s luxury home market continued to record high levels of sales during the third quarter of 2026. Durrani explained that Palm Jumeirah was the most active area for sales of residential properties valued at $10 million and above during the third quarter, recording 27 transactions with a total value of $546.7 million (AED2.01 billion), noting that the area accounted for approximately 31% of all luxury homes sold during the period from July to September, and 35% of their total value. Louis Harding, partner and head of residential real estate in the UAE at Knight Frank, confirmed that Palm Jumeirah continues to attract significant activity in real estate transactions. He said that buyers' interest in the Palm Jumeirah area still largely stems from those wishing to buy a home for permanent residence or for holidays, and not from investors who buy properties with the intention of quickly reselling them for profit.