Five luxury villas to be built on plot sold for $100m in Dubai's Palm Jumeirah

The 90,000 square foot site is at the tip of a frond

The undeveloped land plot on Palm Jumeirah has private beach access. Photo: Dubai Sotheby's International Realty

Five luxurious villas will be built on land bought for Dh365 million ($99.4 million) on Dubai's Palm Jumeirah by developer 25 Degrees, as the emirate records growing demand for prime property.

The 90,000 square foot plot of undeveloped land is located at the tip of a frond.

Dubai-based 25 Degrees plans to build four luxury beach villas there, as well as a double-sized villa at the tip of the frond, it said in a statement. The property will have 120 metres of private beach, with the company aiming for a “record-breaking sale”.

The land plot on Palm Jumeirah acquired by 25 Degrees. Photo: 25 Degrees

“Securing an undeveloped plot of land on the Palm is already a genuine rarity – let alone a spot at the tip of the frond, surrounded by sea views and open air. This is the height of exclusivity,” David von Rosen, co-founder of 25 Degrees, said.

The company focuses on super-prime homes marketed to ultra-high-net-worth individuals (UHNWIs).

The influx of wealthy people to the Emirates has supported the UAE's property market, which has been benefiting from government initiatives such as residency permits for retired and remote workers, expansion of the 10-year golden visa programme and overall growth in the country's economy.

Dubai registered 111 sales of homes valued at more than $10 million in the first quarter of 2025, according to property consultancy Knight Frank.

It marks the “highest Q1 result on record” and a 5.7 per cent annual increase with a total value of $1.9 billion, Knight Frank said. Palm Jumeirah remained the top destination for $10 million-plus homes, with 34 transactions worth $562.8 million in the first quarter.

Dubai also recorded 12 deals on homes valued at more than $25 million in the first quarter, deals which “reflect continued appetite from global UHNWIs seeking one-of-a-kind trophy homes”, Knight Frank said.

Last year, Dubai was ranked first in the world, both in terms of the value and volume of $10 million-plus home sales, with 435 deals worth $7.1 billion.

The UAE drew in 7,200 millionaires last year, building on an influx of 4,700 in 2023 and 5,200 in 2022, Knight Frank said, quoting data from Henley & Partners. The total number of dollar millionaires in the UAE stood at 130,500 at the end of December, ranking the Emirates as the 14th-largest wealth market.

The latest sale of the land plot on Palm Jumeirah was brokered by Dubai Sotheby's International Realty, which claimed that it was the highest-value land deal recorded on the island this year.

“Palm Jumeirah unequivocally remains the ultimate address for Dubai’s global elite,” said George Azar, chairman and chief executive of Dubai Sotheby's International Realty.

“As prime inventory continues to tighten, we anticipate land values and bespoke mansion prices will appreciate significantly in the years to come.”

According to Dubai Sotheby's International Realty, in the January-May period of this year, prices in Palm Jumeirah surged by 18.92 per cent, despite a 14 per cent dip in transaction volume.