Two super-prime, off-plan apartments in Dubai have been sold for a reported Dh84.6 million (£17.2 million/US$23 million ) and Dh92.5 million ( £19.4 million/U.S $25,180,000 ) as the conflict in the Middle East enters its fourth week.
At a glance
The high-value transactions signal that Dubai’s ultra-prime market is holding—but this reflects a narrowing buyer base focused on branded, trophy assets rather than broad market strength.
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- An off-plan luxury apartment in the new Solaya development in Dubai’s Jumeirah 1 neighbourhood has sold for an estimated US$23 million despite the ongoing conflict in the Middle East.
- In a separate transaction, former UFC champion and professional boxer Francis Ngannou purchased a five-bedroom branded residence at Armani Beach Residence on Palm Jumeirah, in one of a string of high-value deals in Dubai.
- Announced in October 2025 and developed under the Meraas brand of Dubai Holding Real Estate, Solaya spans a collection of 234 beachfront residences offering two- to five-bedroom residences, penthouses and villas in Jumeirah 1.
- The transactions signal pricing resilience and buyer interest holding at the very top end of Dubai’s real estate market, as cash-heavy buyers rely on luxury badge value, brand heavyweight and the emirate’s historic pricing resilience both in and outside of stress cycles.
- Following a multi-year run of sustained structural demand, Dubai’s real estate market closed 2025 with its strongest performance on record, reinforcing the city’s position as one of the world’s most active and investable property markets.
- Dubai’s residential real estate market, heavily reliant on expats and overseas investors, is now facing a significant stress test. Can the city’s strong track record cushion the latest downturn?
First reported in Gulf News, two big-ticket transactions this week signal ongoing liquidity at the very top of Dubai’s super-prime market, despite the Iran war upending a multi-year property boom.
A luxury off-plan apartment in the newly launched Solaya development in Dubai’s Jumeirah 1 district has been sold for Dh84.6 million.
According to data from the Dubai Land Department, the apartment spans approximately 1,074 square metres.
Freshly announced in October 2025 and developed under the Meraas brand of Dubai Holding Real Estate, Solaya spans a collection of 234 beachfront residences offering two- to five-bedroom residences, penthouses and villas in Jumeirah 1. The identity of the buyer is not known.
In a separate, high-profile transaction to take place this week amid ongoing conflict, professional boxer and martial artist Francis Ngannou purchased a five-bedroom, 11,521 square feet ultra-prime apartment at Armani Beach Residences at Palm Jumeirah for a reported Dh92.5 million.
Confirming his decision to invest in the branded apartment, Ngannou said, “When I visited the project and understood the vision behind Armani Beach Residences at Palm Jumeirah, I immediately saw how special it is. Dubai continues to attract people from all over the world because it combines ambition, stability and opportunity. Investing here felt like the right decision, and I believe strongly in the city’s future.”
Demand for branded homes in Dubai remains strong
Confirmed by high-end UAE developer Arada, the sale highlights brand resilience, long-term investment performance and investor appetite for the very best branded and luxury lifestyle-oriented homes in Dubai.
Ahmed Alkhoshaibi, Group CEO of Arada, confirmed: “This transaction speaks to the depth of conviction that global buyers have in Dubai’s property market — and specifically in what Armani Beach Residences at Palm Jumeirah represents”.
Designed by Japanese Pritzker Prize-winning architect Tadao Ando, the Armani-branded residence offers panoramic views of the Arabian Gulf and Dubai’s skyline, alongside 90,000 square feet of premium amenities, with construction underway and completion targeted for 2027.
Ultra-prime segment may soften – but brand buy-in will prevail
Despite the transactions signalling investor confidence in Dubai’s historically resilient real estate market, credit analysts forecast an initial softening in the luxury and ultra-luxury segment.
However, the longer-term prognosis seems sunnier with prices at the upper end of the market likely to remain more stable than the broader market due to cash-heavy buyers and the historic resilience of high-quality real estate.
The Iran war, approaching its fourth week, is one of the emirate’s considerable stress tests. Investment bank Goldman Sachs said that the total value of completed transactions so far this month was down by half compared with February, although it said the median transacted price was only down 3% on a year earlier.
However, some developers and brokers on the ground are showing no concern, saying market activity has not stopped, despite some real agents and brokers reporting significant discounts being offered for off-plan and resale luxury homes as investors look for distressed property deals.
In a video commentary, Mohamed Alabbar, the founder of one of the UAE’s largest developers Emaar Properties, was upbeat, telling CNBC that liquidity in the market “remains strong”, with “plenty of buyers still seeking attractive prospects”, especially in the high-quality prime, ultra-prime and branded development segment.
Supporting his positive sentiment, last week, and nearly a month into the crisis, luxury UAE developer Ohana Development reported a record-breaking AED 6 bn in sales across its Manchester City Yas Residences – a gated waterfront community located along the Yas Canal in Abu Dhabi and the first Manchester City club-branded residences.
2025 – Dubai’s winning streak
Dubai’s real estate market closed 2025 with its strongest performance on record, reinforcing the city’s position as one of the world’s most active and investable property markets.
Driven by sustained interest from global capital attracted by the UAE’s fertile investment environment, regulatory framework and tax advantages, total real estate activity in Dubai reached approximately Dh917 billion in 2025, marking the highest annual transaction value in the sector’s history.
With a 2026 handover of an estimated 42,000 to 45,000 homes and luxury branded residences, including an entire Mercedes-Benz city, which is already running ahead of population growth, Dubai’s reputational shock override hinges on one key variable: how long the conflict lasts.
