In the Ultra-Luxury Real Estate Segment of Apartments Valued at Over $10 Million, OMNIYAT Properties Achieved 46 Transactions and a 37% Market Share
OMNIYAT Properties has strengthened its position as the developer of choice in Dubai’s most exclusive locations, achieving an impressive 58.1% market share on Palm Jumeirah, with AED 2.18 billion in sales from 33 high-value transactions.
Leading Dubai’s premium market, OMNIYAT recorded AED 758.3 million in sales across 13 transactions in Business Bay and Downtown Dubai, securing 43.5% of the market share for apartments valued at $10 million or more.
DUBAI, UAE, Jan. 30, 2025 /PRNewswire/ — OMNIYAT Properties, known for creating some of the world’s most iconic ultra-luxury real estate projects, has cemented its leadership in Dubai’s ultra-luxury market with AED 2.94 billion (over $800.2 million) in sales in 2024. According to data from Property Monitor, the UAE’s leading real estate technology and market intelligence provider, OMNIYAT captured 37% of the transactions in the $10 million-plus residential segment.
OMNIYAT’s dominance in the super-luxury category of properties valued above $10 million reflects Dubai’s status as a global hub for exclusive living. The super-luxury segment represents the peak of exclusivity, attracting the world’s wealthiest investors and those seeking the finest in living. OMNIYAT’s leadership in this segment highlights over two decades of innovative developments and sophisticated design.
According to Property Monitor, OMNIYAT led Dubai’s real estate market in 2024, both in terms of total sales value and the number of transactions over $10 million. OMNIYAT also dominated luxury real estate transactions in key areas such as Business Bay, Downtown Dubai, and Palm Jumeirah, with a record-breaking total of AED 2.94 billion (over $800.2 million) in sales across 46 transactions, securing a commanding 37% share in this market segment.
On Palm Jumeirah, OMNIYAT achieved AED 2.18 billion ($593 million) in sales from 33 high-value transactions, commanding a 58.1% market share and reinforcing its status as the preferred developer in this globally coveted location. In Business Bay and Downtown Dubai, OMNIYAT recorded AED 758.3 million ($206.4 million) in sales from 13 transactions, capturing 43.5% of the market share in these prestigious urban districts.
Driving OMNIYAT’s Success:
Key to 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 ($385.4 million) in sales. With the final sale, ORLA Infinity became the most valuable off-plan property on Palm Jumeirah in 2024, with a four-bedroom luxury duplex selling for nearly AED 10,000 per square foot, according to Property Monitor data.
In a similar success, The Lana Residences, Dorchester Collection Dubai, saw OMNIYAT sell its final penthouse for a record-breaking AED 139 million ($37.8 million) in May 2024, solidifying its reputation as the developer of choice for ultra-luxury properties. These achievements highlight OMNIYAT’s leadership in creating exceptional living experiences that combine architectural innovation, artistry, and luxury.
OMNIYAT Properties remains committed to shaping the future of ultra-luxury living, with new projects continuing to set industry standards. For more information about OMNIYAT Properties’ portfolio and contributions to Dubai’s real estate market, visit www.omniyat.com.
