Palm Jumeirah Sale for Q1-2022 with Dh280M Deal


Palm Jumeirah Sale for Q1-2022 with Dh280M Deal

Expensive Deal
Recorded Dh280 million transaction for a 33,000 square foot mansion on the island’s Frond N, mainly in the first three months of 2022 with four entries.

- Dh88.2 million mansion on Jumeira Bay Island came in second place.
- Another Palm home sold for Dh87 million.
- Villas are clearly fueling demand.
- Shell-and-core units are in high demand, and then to off-plan branded residences.

Price Tags
- Asking prices could be creeping higher for the branded properties — Atlantis, The Dorchester Collection, and others.
- Have topped Dh6,800 per square foot.

Deals & Transactions
- In the first quarter, MBR City, the Palm, and Downtown were the busiest on the transaction side for upmarket properties.
- MBR City, the Palm over Dh3 billion in deals.
- Total cost of the Downtown area was Dh2.6 billion.
- Average apartment sale in the premium space was Dh2.4 million, with a per square foot price of Dh1,431.