Dubai’s two Palm islands are taking all the sales action in property sales of Dh18m and more

Dubai’s two Palm islands are taking all the sales action in property sales of Dh18m and more

Dubai: The two Palm islands are taking a firm grip on the super-luxury end of Dubai’s property market, with Palm Jebel Ali now accounting for 50 per cent of overall city-wide sales in the Dh18 million to Dh20 million price range. All the more remarkable because the Palm Jebel Ali in its revised masterplan launched sales just 3 months ago.

if one were to stretch the price range, then Palm Jebel Ali would be making up a whopping 84 per cent of Dubai's Dh18 million to Dh30 million homes.  

At the same time, Palm Jumeirah has a lock on 32 per cent of homes that fetched values of Dh45 million and over during 2023, according to new data from Reidin-GCP.

Dubai’s first Palm island should see further action with developers launching sales of a Dh600 million penthouse – aiming to be Dubai’s costliest penthouse - and of an Armani project (Dubai’s second featuring the iconic luxury label after the one at Burj Khalifa).

In perfect sales 'harmony'

Just as important, the two Palm islands are not competing between themselves for buyers. “Palm Jumeirah home prices had declined slightly prior to the launch of Palm Jebel Ali - but have since