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Dubai Bets On Custom Super Mansions With Retractable Domes, Private Beaches, And Billion-Dollar Prices, Becoming The Preferred Destination For Millionaires In 2024
Dubai is experiencing an unprecedented real estate boom, marked by billion-dollar investments in ultra-luxury neighborhoods. In the new artificial islands, custom mansions can cost up to £100 million.
These properties, known in one of them as Billionaire Island, offer more than just simple homes.
They come equipped with private beaches, rotating parking tables, and finishes that impress even the most demanding.
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Tailor-Made Houses For Those Who Can Afford
The main appeal is the extreme customization. Each resident can order exclusive furniture, rare artworks, and even the complete style of the decor. Nothing seems impossible, as long as the money is available.
A notable example is a mansion with a retractable glass dome that covers a pool and spa. Another project features a movable floor pool, capable of camouflaging itself in the garden during parties.
Additionally, there were those who requested a unique glass panel measuring 17 meters by 4 meters. The material was transported thousands of kilometers and took 45 days just to confirm technical feasibility.
The Most Profitable Market
Wissam Damaa from Palace Group explains that these clients already own residences in different cities and seek very specific details.
This demand generates unique projects, but also ensures high margins.
Average prices range between £50 million and £100 million. According to Mark Phoenix from Sankari Properties, this is the most profitable sector of the market. His company is raising a tower valued at £1 billion.
High Demand And Record Numbers
Million-dollar prices do not deter buyers. On the contrary, the demand for super-exclusive properties has skyrocketed.
In 2023, Dubai recorded the sale of 435 homes above US$10 million, surpassing New York and Hong Kong.
This trend aligns with the local strategy to reduce reliance on oil. The luxury real estate market has become an international showcase and places the city on the radar of the global elite.
Competitive Advantages Over Other Markets
Another attraction is the cost per square meter. Compared to New York or London, Dubai offers much lower prices.
The same investment guarantees larger residences, as well as additional services and experiences.
Mahdi Amjad, founder of Omniyat, reinforces this point. For him, Dubai’s buildings deliver more space and amenities for prices even lower than those practiced in Western capitals.
Preferred Destination For Millionaires
This scenario helps explain why consultancies project a record influx of millionaires to the United Arab Emirates.
In 2024, it is estimated that 6,700 wealthy individuals will choose the country as their new home, the largest number in the world.
Therefore, the combination of luxury, exclusivity, and competitive prices has transformed Dubai into the stage of a real estate race that redefines the concept of mansion.
With information from The Sun.
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