Dubai’s ultra-luxury real estate market has entered a new era. It’s no longer just about owning a property — it’s about securing a lifestyle, a statement, and a legacy. Buyers in this segment aren’t transient investors; they’re discerning individuals seeking permanence, privacy, and prestige in a city that delivers all three.
Global Wealth Is Moving
Dubai has become a prime destination for high-net-worth individuals (HNWIs) relocating globally. For them, Dubai offers certainty, modern infrastructure, and connectivity.
Recent millionaire migration trends highlight this shift:
- 2023: ~120,000 millionaires relocated globally.
- 2024: ~128,000 millionaires relocated.
- 2025 (projected): ~142,000 millionaires expected to move, with the UAE leading as a top destination.
Top countries gaining millionaires in 2025:
- UAE: +9,800 millionaires (~$63B in investable wealth)
- United States: +7,500 millionaires (~$43.7B)
- Italy: +3,600 millionaires (~$20.7B)
- Switzerland: +3,000 millionaires (~$16.8B)
- Saudi Arabia: +2,400 millionaires (~$18.4B)
Countries losing millionaires include the UK (-16,500) and China (-15,200), among others.
Sources: Henley & Partners, Business Insider
Lifestyle, Not Just Luxury
Ultra-luxury buyers are looking for more than a home; they’re seeking a complete lifestyle. Dubai delivers privacy, security, and services that matter to the global elite. Branded residences — Baccarat, Bugatti, Bulgari — merge hotel-style management with permanent ownership, offering concierge services, private pools, gyms, and exclusive access to social spaces.
The Policy Advantage
Dubai’s tax environment remains highly attractive: no property tax, no capital gains tax, and no inheritance tax. The 10-year Golden Visa provides long-term stability, allowing investors and entrepreneurs to make Dubai a base for business and family life.
Sources: Henley & Partners
Holding Value Over Time
Returns in this segment are less about rental yields and more about preservation and uniqueness. Trophy properties often function like collectible assets — their value can become subjective, particularly if a property is fully revamped or bespoke. Such homes can command well above market averages simply because there’s nothing else like them.
Current Ultra Luxury Market Landscape
At the top of Dubai’s market, location often matters more than architecture. Prime neighborhoods define exclusivity:
- Jumeirah Bay Island: “Billionaires’ Island” trades around AED 7,000 – 8,000 per sq ft, with record deals hitting AED 7,775 psf.
- Palm Jumeirah: Villas can go from AED 7,000 up to 15,000 psf, depending on location and amenities.
- Emirates Hills: Homes typically range between AED 4,900 – 8,000 psf.
Currently, the ultra-luxury segment offers very limited choices to choose from. Many newer developments coming online, however, are more sophisticated, modern, and designed to cater to different lifestyles, from tech-enabled smart homes to wellness-focused residences.
A Preference for the New: In Dubai, buyers often favor the newest developments and towers, drawn by contemporary design, amenities, and lifestyle features. This contrasts with mature luxury markets, where classical architecture and historic properties are more highly sought after.
Limited Supply, Strong Timing
The ultra-luxury market in Dubai is small and highly curated. New developments are usually limited in scale and design-led. Most buyers prefer ready or near-ready properties, reinforcing the market’s exclusivity.
Global Shifts, Local Confidence
When other markets face uncertainty — new taxes, political changes, or slower growth — Dubai benefits. The city offers stability, neutrality, and global accessibility, a rare combination for HNWIs seeking a safe haven.
Dubai’s Growing Appeal to High-Net-Worth Individuals
The UAE continues to attract wealthy individuals at record rates. With favorable policies, modern infrastructure, and luxury-focused urban planning, Dubai is increasingly seen as the ultimate destination for global elites.
The Bottom Line
Dubai’s ultra-luxury market isn’t a passing trend — it’s a realignment. With prices ranging from AED 7,000 – 15,000 per sq ft, the city offers unmatched opportunities for buyers seeking modern, sophisticated, and diverse luxury living.
Yes, these are trophy assets, and yes, the segment can be less liquid. But this illiquidity can also be an advantage: pricing becomes subjective, especially for fully revamped or uniquely designed homes. Newer, state-of-the-art developments are expanding the options for buyers seeking innovation, lifestyle diversity, and tech-enabled living — not just a traditional symbol of wealth.
Let’s Connect: If you’re exploring Dubai’s ultra-luxury market, we can analyze the different options in terms of lifestyle, location, and price per square foot — for both off-plan and ready-to-move-in properties. This helps you identify the best fit for your personal and investment goals.
Sources:
- Henley & Partners, “Great Wealth Flight | Wealth Migration 2025”
- Henley & Partners, “Private Wealth Migration 2025 | Press Release”
- Business Insider, “Millionaire migration is booming — these are the top 10 countries attracting the world’s wealthy in 2025” (link)
Marc Mesmar Property Consultant In Dubai 
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