Dubai registered 111 sales of homes valued at more than $10 million in the first quarter of 2025 as the demand for luxury homes remains strong in the emirate amid an influx of ultra-wealthy individuals.
It marks the "highest Q1 result on record" and a 5.7 per cent annual increase with a total value of $1.9 billion, Knight Frank said in a report on Tuesday. Palm Jumeirah remained the top destination for $10 million-plus homes, with 34 transactions worth $562.8 million in the first quarter.
Emirates Hills followed in second place with 15 sales, totalling $356.7 million. The community also had the most expensive deal of the quarter, a six-bedroom villa that was sold for $106.3 million in January having been initially bought for $6.6 million in 2015.
Dubai also recorded 12 deals on homes valued at more than $25 million in the first quarter, deals which “reflect continued appetite from global UHNWIs (ultra-high-net-worth individuals) seeking one-of-a-kind trophy homes”, Knight Frank said.
“Dubai’s luxury residential market continues to defy gravity. Demand, particularly from international buyers, remains unrivalled on the global stage,” Faisal Durrani, partner and head of research, Mena, at Knight Frank, said. The emirate has “firmly established itself as the global epicentre for ultra-luxury real estate – surpassing legacy markets like New York, London and Hong Kong".
Last year, Dubai was ranked first in the world, both in terms of the value and volume of $10 million-plus home sales, with 435 deals worth $7.1 billion.
The influx of high-net-worth individuals has been boosting Dubai's property market, which has been benefiting from government initiatives such as residency permits for retired and remote workers, expansion of the 10-year golden visa programme and overall growth in the UAE’s economy on diversification efforts.
Last year, the UAE welcomed 7,200 millionaires, building on an influx of 4,700 in 2023 and 5,200 in 2022, Knight Frank said, citing data from Henley & Partners. The total number of dollar millionaires in the UAE stood at 130,500 at the end of December, ranking the Emirates as the 14th-largest wealth market globally.
The number of dollar millionaires in the UAE has soared by 98 per cent over the past decade, making it the second-fastest-growing wealth market worldwide. The greatest proportion of inbound millionaires come from India, followed by the Middle East, Russia and CIS (the Commonwealth of Independent States), the UK and Europe, Knight Frank added.
Alongside the rise of UHNWI in the region, Knight Frank also said the growth of family offices is supporting the real estate market. The appetite for purchasing real estate in Dubai "grew exponentially with levels of personal wealth", rising from 28 per cent of those worth $2 million-$5 million to reach 78 per cent for those with more than $15 million, the report said.
Among UHNWI considering a Dubai property purchase, 25 per cent are prepared to spend $60 million to $80 million on a home in the city, while 16 per cent are willing to consider properties worth more than $80 million. "This level of demand is unsurprisingly putting pressure on supply," it said.
In the Dh2,000 to 3,000 per square foot range, which includes many prime and high-end properties, delivery of new homes fell by 57 per cent year on year in the first quarter. A similar trend was observed in the Dh3,000 to 5,000 per square foot segment, where supply was down 39 per cent.
The most pronounced shortfall, however, was in the ultra-luxury sector. In 2023, virtually no new villas were delivered in the Dh5,000-plus per square foot category. In 2024, just 16 villas entered the market at this price level, "underscoring the scarcity of Dubai’s most exclusive residential offerings", Knight Frank said.
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The specs
- Engine: 3.9-litre twin-turbo V8
- Power: 640hp
- Torque: 760nm
- On sale: 2026
- Price: Not announced yet
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Tips to stay safe during hot weather
- Stay hydrated: Drink plenty of fluids, especially water. Avoid alcohol and caffeine, which can increase dehydration.
- Seek cool environments: Use air conditioning, fans, or visit community spaces with climate control.
- Limit outdoor activities: Avoid strenuous activity during peak heat. If outside, seek shade and wear a wide-brimmed hat.
- Dress appropriately: Wear lightweight, loose and light-coloured clothing to facilitate heat loss.
- Check on vulnerable people: Regularly check in on elderly neighbours, young children and those with health conditions.
- Home adaptations: Use blinds or curtains to block sunlight, avoid using ovens or stoves, and ventilate living spaces during cooler hours.
- Recognise heat illness: Learn the signs of heat exhaustion and heat stroke (dizziness, confusion, rapid pulse, nausea), and seek medical attention if symptoms occur.
Volvo ES90 Specs
Engine: Electric single motor (96kW), twin motor (106kW) and twin motor performance (106kW)
Power: 333hp, 449hp, 680hp
Torque: 480Nm, 670Nm, 870Nm
On sale: Later in 2025 or early 2026, depending on region
Price: Exact regional pricing TBA
Conflict, drought, famine
Estimates of the number of deaths caused by the famine range from 400,000 to 1 million, according to a document prepared for the UK House of Lords in 2024.
It has been claimed that the policies of the Ethiopian government, which took control after deposing Emperor Haile Selassie in a military-led revolution in 1974, contributed to the scale of the famine.
Dr Miriam Bradley, senior lecturer in humanitarian studies at the University of Manchester, has argued that, by the early 1980s, “several government policies combined to cause, rather than prevent, a famine which lasted from 1983 to 1985. Mengistu’s government imposed Stalinist-model agricultural policies involving forced collectivisation and villagisation [relocation of communities into planned villages].
The West became aware of the catastrophe through a series of BBC News reports by journalist Michael Buerk in October 1984 describing a “biblical famine” and containing graphic images of thousands of people, including children, facing starvation.
Band Aid
Bob Geldof, singer with the Irish rock group The Boomtown Rats, formed Band Aid in response to the horrific images shown in the news broadcasts.
With Midge Ure of the band Ultravox, he wrote the hit charity single Do They Know it’s Christmas in December 1984, featuring a string of high-profile musicians.
Following the single’s success, the idea to stage a rock concert evolved.
Live Aid was a series of simultaneous concerts that took place at Wembley Stadium in London, John F Kennedy Stadium in Philadelphia, the US, and at various other venues across the world.
The combined event was broadcast to an estimated worldwide audience of 1.5 billion.
UAE rugby in numbers
5 - Year sponsorship deal between Hesco and Jebel Ali Dragons
700 - Dubai Hurricanes had more than 700 playing members last season between their mini and youth, men's and women's teams
Dh600,000 - Dubai Exiles' budget for pitch and court hire next season, for their rugby, netball and cricket teams
Dh1.8m - Dubai Hurricanes' overall budget for next season
Dh2.8m - Dubai Exiles’ overall budget for next season
THE LIGHT
Director: Tom Tykwer
Starring: Tala Al Deen, Nicolette Krebitz, Lars Eidinger
Rating: 3/5
The specs: 2019 Audi A7 Sportback
Price, base: Dh315,000
Engine: 3.0-litre V6
Transmission: Seven-speed automatic
Power: 335hp @ 5,000rpm
Torque: 500Nm @ 1,370rpm
Fuel economy 5.9L / 100km
The specs
Engine: 2.0-litre 4-cylturbo
Transmission: seven-speed DSG automatic
Power: 242bhp
Torque: 370Nm
Price: Dh136,814
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Company%20profile
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'Nightmare Alley'
Director:Guillermo del Toro
Stars:Bradley Cooper, Cate Blanchett, Rooney Mara
Rating: 3/5
UAE currency: the story behind the money in your pockets
UAE cricketers abroad
Sid Jhurani is not the first cricketer from the UAE to go to the UK to try his luck.
Rameez Shahzad Played alongside Ben Stokes and Liam Plunkett in Durham while he was studying there. He also played club cricket as an overseas professional, but his time in the UK stunted his UAE career. The batsman went a decade without playing for the national team.
Yodhin Punja The seam bowler was named in the UAE’s extended World Cup squad in 2015 despite being just 15 at the time. He made his senior UAE debut aged 16, and subsequently took up a scholarship at Claremont High School in the south of England.
Living in...
This article is part of a guide on where to live in the UAE. Our reporters will profile some of the country’s most desirable districts, provide an estimate of rental prices and introduce you to some of the residents who call each area home.
Benefits of first-time home buyers' scheme
- Priority access to new homes from participating developers
- Discounts on sales price of off-plan units
- Flexible payment plans from developers
- Mortgages with better interest rates, faster approval times and reduced fees
- DLD registration fee can be paid through banks or credit cards at zero interest rates
COMPANY%20PROFILE
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Quick facts on cancer
- Cancer is the second-leading cause of death worldwide, after cardiovascular diseases
- About one in five men and one in six women will develop cancer in their lifetime
- By 2040, global cancer cases are on track to reach 30 million
- 70 per cent of cancer deaths occur in low and middle-income countries
- This rate is expected to increase to 75 per cent by 2030
- At least one third of common cancers are preventable
- Genetic mutations play a role in 5 per cent to 10 per cent of cancers
- Up to 3.7 million lives could be saved annually by implementing the right health
strategies
- The total annual economic cost of cancer is $1.16 trillion
The specs
Engine: 8.0-litre, quad-turbo 16-cylinder
Transmission: 7-speed auto
0-100kmh 2.3 seconds
0-200kmh 5.5 seconds
0-300kmh 11.6 seconds
Power: 1500hp
Torque: 1600Nm
Price: Dh13,400,000
On sale: now
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The Perfect Couple
Starring: Nicole Kidman, Liev Schreiber, Jack Reynor
Creator: Jenna Lamia
Rating: 3/5
Labour dispute
The insured employee may still file an ILOE claim even if a labour dispute is ongoing post termination, but the insurer may suspend or reject payment, until the courts resolve the dispute, especially if the reason for termination is contested. The outcome of the labour court proceedings can directly affect eligibility.
- Abdullah Ishnaneh, Partner, BSA Law
Analysis
Members of Syria's Alawite minority community face threat in their heartland after one of the deadliest days in country’s recent history. Read more
COMPANY PROFILE
Name: Kumulus Water
Started: 2021
Founders: Iheb Triki and Mohamed Ali Abid
Based: Tunisia
Sector: Water technology
Number of staff: 22
Investment raised: $4 million
UAE currency: the story behind the money in your pockets
The five pillars of Islam
