Dubai off-plan luxury apartment sells for Dh166 million in Aman Residences
An off-plan apartment at Aman Residences Dubai has sold for Dh166.07 million, marking one of the emirate's highest-value residential transactions as ultra-prime properties continue attracting wealthy global buyers.
Record-Breaking Off-Plan Sale at Aman Residences
An off-plan luxury apartment in Dubai has sold for Dh166.07 million, underscoring the sustained appetite for ultra-prime residences in the emirate amid robust market conditions.
Data from the Dubai Land Department's official real estate platform Dubai REST shows the apartment is located within Aman Residences Dubai, an exclusive development in Jumeirah Second. The property spans 10,021.39 square feet with an average price exceeding Dh16,572 per square foot—approximately 10 times higher than Dubai's residential market average of Dh1,658 per square foot as of June 2026.
About Aman Residences Dubai
Developed by H&H Development in partnership with the Aman hospitality brand and designed by Kerry Hill Architects, Aman Residences Dubai features only 82 branded residences alongside 100 hotel suites on a nine-acre site at the end of the Dubai Water Canal. The development exemplifies the branded residence model that has gained significant traction in Dubai, where such properties have outperformed unbranded comparable inventory by 25 to 40 per cent on price per square foot and demonstrated stronger value retention during market corrections.
Dubai has emerged as the world's leading city for branded residences by inventory, with over 80 schemes either delivered or under construction and a total market value estimated at $10.8 billion, according to Knight Frank's Branded Residences Report.
Luxury Market Performance in 2026
The transaction comes as Dubai's luxury property market showed divergent performance during the first half of 2026 between villas and apartments in the segment valued above Dh36.7 million. While villas led growth in both transaction volumes and values, luxury apartments maintained strong pricing in established locations and branded developments.
The ultra-luxury segment recorded 269 transactions worth Dh16.57 billion during the first six months of 2026, representing year-on-year increases of 11.2 per cent in deal volume and 11.5 per cent in total value compared with the same period in 2025. Despite representing just 3.3 per cent of total transaction volume in 2025, properties priced above Dh20 million contributed significantly to overall market value with 6,651 transactions recorded in that segment.
The first quarter of 2026 marked another strong period for Dubai's luxury real estate market, with transaction volumes up 23 per cent year-on-year and average prices reaching new highs in prime locations. Market analysts note the ultra-luxury segment remains supply-constrained, driving continued price appreciation.
Strong Annual Growth
Dubai's luxury property market posted annual growth last year, recording 6,668 luxury property sales worth approximately Dh143.8 billion, up from 4,735 transactions valued at Dh99.3 billion in 2024. That represented annual growth of 41 per cent in transaction volumes and 45 per cent in total value.
The emirate added high-net-worth individuals at a 15 per cent year-on-year pace through 2024 into 2025, driven by tax neutrality, geopolitical stability, the Golden Visa programme, and world-class infrastructure. This influx has supported demand for ultra-prime properties, with prime locations such as Palm Jumeirah, Emirates Hills, and select branded developments commanding prices ranging from Dh3,500 to over Dh7,000 per square foot as of 2026.
Daily Transaction Activity
Dubai recorded Dh2.05 billion in total real estate transactions on the day of the Aman Residences sale across 803 deals, including property sales exceeding Dh1.44 billion through 611 transactions. Residential units accounted for 539 sales, alongside 44 building transactions and 28 land sales.
Ready property sales totalled Dh587.06 million across 180 transactions, comprising 134 residential units, 18 buildings and 28 land plots. Off-plan sales reached Dh857.41 million through 431 transactions, including 405 residential units and 26 building sales, highlighting continued strength in Dubai's development pipeline and investor appetite for new projects.
