Dubai’s new millionaires haven: The Jumeirah Islands has recorded deals over Dh10 million in the past three years
According to the sources of global real estate consultancy Knight Frank, “the Jumeirah Islands accounted for more than 10% of transactions worth Dh 10 million in the last three years, demonstrating that the area can maintain its value and become a prime neighborhood.”
The most expensive home to get sold in this man-made island was a 4-rooms, 5,500 square foot, sold for Dh 28 Billion in December 2023. In the last year, 97 homes were sold in Jumeirah Island for approximately Dh 1 Billion.
As per McKintosh, regional partner and head of residential for Mena at Knight Frank, “Dubai is no longer an emerging market, but rather one that has emerged.”
Further he stated, “The growing list of prime residential neighborhoods 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 added.”
