Top Developers Dominating Dubai’s Luxury Property Market in 2024

Dubai’s real estate market continues to set new records, with luxury properties leading the way. In 2024, the city’s ultra-premium $10 million-plus apartment market showcased some of the most impressive sales figures, driven by key developers like OMNIYAT, MERAAS, and SELECT GROUP.

Here’s the top-performing developers, popular area by Property Monitor and why investing in Dubai’s high-end real estate remains a lucrative opportunity.

Top Developers in the $10M+ Apartment Market

  1. OMNIYAT Properties: The Market Leader OMNIYAT dominated the luxury market in 2024, capturing a staggering 36.8% market share for $10 million-plus apartments across Dubai. In specific locations like Palm Jumeirah, OMNIYAT’s presence was even more commanding, with a 58.1% market share. This developer’s projects are synonymous with opulence, blending innovative designs with world-class amenities.
  2. MERAAS: Second Place with 12.9% Known for creating some of Dubai’s most iconic developments, MERAAS took the second spot with a 12.9% market share, offering properties that appeal to discerning investors seeking lifestyle and luxury.
  3. SELECT GROUP: A Rising Star SELECT GROUP secured the third position with a 9.7% share, excelling in both Palm Jumeirah and Downtown Dubai. Their developments attract both end-users and investors, thanks to strategic locations and premium designs.
  4. NAKHEEL and AHS PROPERTIES These developers rounded out the top five, with 5.1% and 9.4% market shares, respectively. NAKHEEL’s expertise in creating waterfront communities continues to make waves, while AHS PROPERTIES is gaining traction in the luxury segment.

Hotspots for Luxury Sales

  1. Palm Jumeirah: The Jewel of Dubai The Palm remains a standout location for ultra-high-net-worth individuals, thanks to its exclusivity and unparalleled views. OMNIYAT once again led the market here, selling more than half of all $10M+ apartments.
  2. Downtown Dubai and Business Bay These vibrant districts are popular among professionals and investors. OMNIYAT led the market here with a 43.5% share, followed by H&H Development (18.4%) and EMAAR (9.3%).

Why Invest in Dubai’s Luxury Market?

  • Global Appeal for High-Net-Worth Individuals Dubai remains a magnet for international investors, offering safety, world-class infrastructure, and a tax-free environment. The city is a top choice for those looking to diversify their portfolios.
  • Unmatched ROI The luxury segment has consistently shown strong returns, with villa values increasing by 24.3% last year alone.
  • Strategic Locations Developers are focusing on iconic areas like Palm Jumeirah, Business Bay, and Downtown, ensuring high demand for luxury properties.

Wrapping Up 2024

The year 2024 was a remarkable one for Dubai’s luxury real estate market, achieving record-breaking transaction volumes and solidifying its position as a global hub for high-end living. With over 170,000 transactions recorded and continued interest from international investors, the city’s reputation for innovation, safety, and opulence remains unmatched. As Dubai enters 2025, the achievements of 2024 provide a strong foundation for continued success in its premium property market.

Discover More Real Estate in UAE