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Dubai Branded Residences Market – Second Half 2024 Performance & Insights
Dubai’s branded residences sector continued its record-breaking expansion in H2 2024, fueled by strong investor demand, rising transaction volumes, and an increasing preference for off-plan luxury developments. The market outperformed expectations, setting new benchmarks in pricing, sales volume, and ultra-prime transactions.
Key Market Highlights:
- - 11 new branded residence projects launched, adding 4,039 luxury units to Dubai’s inventory in just six months.
- - Transaction volume surged by 36% vs. H1 2024 and 48% year-on-year, signaling continued strong investor appetite.
- - Transaction value increased by 10% from H1 and 6% vs. last year, underscoring the segment’s resilience.
- - Buyers paid an average 42% price premium over non-branded residences, slightly above the global average, reflecting high demand and market confidence.
Off-Plan Branded Residences Dominate the Market
- - 83% of all branded residences sold in H2 2024 were off-plan, highlighting investor confidence in Dubai’s pipeline of luxury developments.
- - 6,346 off-plan transactions were recorded, totaling $6.69B USD (AED 24.8B).
- - 1,282 completed branded residences were sold, totaling $1.83B USD (AED 6.79B) ,reinforcing strong demand in both the primary and secondary markets.
High-Value Transactions & Ultra-Luxury Demand
- - 8 transactions exceeded AED 100M ($27.2M USD) in H2 2024, reaffirming Dubai’s status as a prime destination for ultra-luxury real estate.
- - Most expensive sale: A 31,694 sq.ft. super penthouse in One at Palm Jumeirah (Dorchester Collection) sold for $75.3M (AED 275M). Second highest: An 11,655 sq.ft. full-floor apartment in Bulgari Lighthouse, sold for $41M (AED 148M).Third highest: A 16,594 sq.ft. penthouse in The Lana (Dorchester Collection), sold for $38M (AED 139M).
Luxury Price Trends & Community Performance
- - Waterfront locations recorded the highest price premiums over non-branded , branded residences in sold for JBR 94% higher price per sq.ft , Palm Jumeirah at 73%, and Jumeirah Bay at 68% .
- - Family-oriented villa communities saw the lowest premiums, with Damac Hills at 3%, Jumeirah Golf Estates at 7%, and Arabian Ranches 3 8%, reflecting a different buyer demographic.
Supply & Demand: Market Expansion Continues
- - 26,002 branded units are currently under construction, compared to just 17,083 completed units, driving upward price pressure due to supply-demand imbalance.
- - Ready branded residences commanded a 15% price premium over under-construction units, reinforcing their strong resale value and investor confidence.
Top Brands & Investment Hotspots
- - Bulgari continues to command the highest price per sq.ft. at $2,904 (AED 10,668), followed by Atlantis Resorts ($2,556 | AED 9,387) and Dorchester Collection ($2,053 | AED 7,539).
- - Downtown Dubai remains the most concentrated branded residence market with 20 projects, followed by Business Bay (17) and Palm Jumeirah (16).
- - Address Hotels & Resorts leads the market with 13 branded developments, followed by Dorchester Collection with 7 projects.
- - Dubai Hills Estate recorded the highest branded residence sales, with 2,193 properties sold, totaling $1.79B (AED 6.53B) in H2 2024.
Dubai’s Branded Residences: A Market in Unstoppable Growth
Dubai continues to redefine luxury real estate, attracting global investors, high-net-worth individuals, and international brands seeking exceptional returns and world-class living experiences. With rising demand, strong capital appreciation, and an expanding pipeline of high-end developments, the city solidifies its position as the world’s premier branded residence hub.
Download the full Dubai Branded Residences Report - H2 2024
