OMNIYAT Properties leads Dubai’s ultra-luxury real estate market sales of USD 10million-plus apartments: Property Monitor
- In the ultra-luxury real estate segment of apartments valued at USD 10 million-plus, OMNIYAT Properties achieved 46 transactions and a 37% share
- Reinforcing its position as the developer of choice in Dubai’s most exclusive address, OMNIYAT achieved a whopping 58.1% market share on Palm Jumeirah, posting AED 2.18 billion in sales across 33 high-value transactions
- Dominating the heart of Dubai, OMNIYAT recorded AED758.3 mn in sales across 13 transactions in Business Bay and Downtown Dubai, representing 43.5% of the market share of USD 10 million-plus apartments
OMNIYAT Properties, the visionary developer behind some of the world’s most iconic ultra-luxury real estate projects, has solidified its leadership position in Dubai’s ultra-luxury market, achieving AED 2.94 billion (over USD 800.2 mn) in sales in 2024.
According to data from Property Monitor, the UAE’s leading real estate technology and market intelligence provider, OMNIYAT Properties captured more than one-third (37%) of the transactions in the USD 10 million-plus residential segment.
OMNIYAT’s dominance in the super-prime category of apartments valued over USD 10 million-plus reflects Dubai’s status as the global capital of ultra-luxury living. The super-prime segment represents the pinnacle of exclusivity, attracting the world’s most affluent investors and connoisseurs of fine living. OMNIYAT’s leadership in this segment testifies to more than two decades of visionary developments and sophisticated design.
According to Property Monitor, OMNIYAT led Dubai’s real estate market in 2024 in transactions over USD 10 million, in terms of both total sales value and the number of transactions.
OMNIYAT also dominated ultra-luxury luxury real estate transactions in the key districts of Business Bay/Downtown, and Palm Jumeirah, with a record-breaking total of AED 2.94 billion (over USD 800.2 mn) in sales across 46 transactions, securing a commanding 37% share in the segment.
On Palm Jumeirah, OMNIYAT achieved AED 2.18 billion (USD 593 mn) in sales across 33 high-value transactions, commanding a 58.1% market share and reinforcing its reputation as the preferred developer in a globally sought-after address.
Similarly, in Business Bay and Downtown Dubai, OMNIYAT recorded AED 758.3 mn (USD 206.4 mn) in sales from 13 transactions, capturing 43.5% of the market share in these elite urban districts.
Driving OMNIYAT’s success were its landmark projects such as ORLA Infinity, Dorchester Collection, Dubai, where all 20 ultra-luxury duplex residences were sold out by August 2024, generating AED 1.4 billion (USD 385.4 mn) in sales.
With the final sale, the exclusive off-plan properties in ORLA Infinity became the most valuable on The Palm Jumeirah in 2024, as a four-bedroom uber luxury duplex reached a value of almost AED10,000 per square foot, according to Property Monitor data.
Similarly with The Lana Residences, Dorchester Collection Dubai, OMNIYAT sold its final penthouse for a record-breaking AED 139 mn (USD 37.8 mn) in May 2024, becoming the undisputed developer of choice for ultra-luxury properties. These achievements cement OMNIYAT’s leadership in creating living experiences that blend architectural innovation, artistry, and luxury.
Mahdi Amjad, Founder and Executive Chairman of OMNIYAT, commented: “For over two decades, OMNIYAT Properties has been a pioneer in curating elevated lifestyle experiences. We’re gratified to see Dubai’s market attracting the discerning individuals we envisioned as our community. Our continued success and track record reflect the trust and satisfaction of our customers, who share our vision of refined living. There could be no better endorsement for us.
As Dubai’s real estate market continues to evolve as a magnet for global investors seeking exclusive living experiences, the USD 10 million-plus segment represents the pinnacle of this evolution. Our vision has always been to craft masterpieces that offer exceptional living experiences. We have delivered on this promise, firmly establishing OMNIYAT Properties as the developer of choice for the world’s most discerning clientele.”
OMNIYAT Properties remains committed to shaping the future of ultra-luxury living with new projects that continue to set industry standards. For more information about OMNIYAT Properties’ portfolio and contributions to Dubai’s real estate market, visit www.omniyat.com.
