The most expensive home to sell in the island cluster was a 4-bedroom home, which sold for Dh28 million in December 2023.
Jumeirah Islands, like Emirates Hills, Jumeirah Bay Island, and Palm Jumeirah, has become a new hunting ground for elites who want to live in Dubai.
The Islands accounted for more than 10% of all transactions worth more than Dh10 million in the last three years, demonstrating that the area can maintain its value and become a prime neighbourhood, according to global real estate consultancy Knight Frank.
The most expensive home to sell in the man-made island cluster was a 4-bedroom 5,500-square-foot home that sold for Dh28 million (or Dh5,111 per square foot) in late December 2023. In the last year, 97 homes in Jumeirah Islands have changed hands for a total of approximately Dh1 billion.
Will McKintosh, regional partner and head of residential for Mena at Knight Frank, stated that Dubai is no longer an emerging market, but rather one that has emerged.
“The growing list of prime residential neighbourhoods is yet another sign of maturity bedding in and it is only a matter of time before other areas such as Tilal Al Ghaf, Jumeirah Golf Estates, Al Barari and/or Blue Waters also make the transition to prime status,” he stated.
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