Dubai Sets New Real Estate Record with Dhs365 Million Palm Jumeirah Plot Sale

In a landmark transaction for Dubai's luxury real estate sector, Dubai Sotheby’s International Realty has brokered the sale of a residential plot on the prestigious Palm Jumeirah for Dhs365 million (approximately $100 million). This deal sets a new record for the highest-priced land sale ever recorded on the iconic man-made island.

 

The plot, covering an area of 128,697 square feet, is situated in the Frond G sector of Palm Jumeirah—a location synonymous with exclusivity and ultra-high net-worth investment.

 

A Landmark Deal for Dubai’s High-End Market

The record-breaking sale, announced this week, underscores the continued investor confidence in Dubai’s high-end real estate sector, especially in prime waterfront locations like Palm Jumeirah. With property prices on the island reaching Dhs2,836 per square foot, this transaction demonstrates a sharp demand for limited land parcels capable of hosting mega-mansions or multi-unit luxury developments.

 

A Worthwhile Read: Dubai Pioneers MENA’s First Tokenised Real Estate—Redefining Property Investment

 

Strategic Interest from Global Buyers

This sale also signals ongoing interest from global ultra-high-net-worth individuals seeking trophy assets in politically stable jurisdictions. The UAE's foreign property ownership policies, zero income tax, and strong economy make it a popular destination for global capital.

 

The buyer, whose identity remains confidential, is expected to develop a custom-built residential estate on the site, further raising the bar for architectural innovation and lifestyle luxury on the island.

 

Legal Framework for High-Value Property Sales

High-value real estate transactions in Dubai are governed by the Dubai Land Department (DLD) and the Real Estate Regulatory Agency (RERA). The sale will be subject to title deed registration, transfer fees, and compliance with Anti-Money Laundering (AML) and Know Your Customer (KYC) norms, especially relevant for transactions exceeding Dhs55 million under UAE Cabinet Resolution No. (58) of 2020.

 

In addition, due diligence is often undertaken to verify the source of funds, the buyer’s identity, and adherence to real estate laws as outlined in Law No. (7) of 2006. Notably, the amendments are introduced under Law No. (7) of 2019 concerning real estate registration in Dubai.

 

Expert Insight

Sunil Ambalavelil, Chairman of Kaden Boriss and a leading real estate lawyer in Dubai, commented:

 

“This transaction is a testament to Dubai’s maturing real estate legal ecosystem. The regulatory framework surrounding high-value property deals has become far more robust, ensuring both transparency and investor protection.”

 

This is what you're looking for: Why You Need a Real Estate Lawyer When Buying Property in Dubai. 

 

Broader Market Outlook

The deal comes at a time when Dubai continues to dominate global rankings for luxury property sales. According to data from Knight Frank and other market monitors, the city has consistently led in the number of $10 million+ home sales globally, outpacing traditional luxury hubs such as London, New York, and Hong Kong.

 

In 2024 alone, Dubai registered over 95 ultra-luxury transactions in the residential sector, and analysts expect this momentum to continue in 2025, particularly in waterfront communities like Palm Jumeirah, Jumeirah Bay, and Dubai Hills.

 

With its resilient infrastructure, cutting-edge security systems, and progressive, investor-centric regulatory reforms, the city continues to draw sustained capital flows into its thriving luxury residential sector. In this evolving landscape, Kaden Boriss has deep-rooted expertise across real estate, technology, and financial regulation. We stand ready to empower investors, developers, and policymakers with informed, strategic guidance.

 

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