Dubai developer OMNIYAT properties has captured a 37 per cent share of transactions in the $10 million-plus apartment segment in 2024, achieving AED 2.94 billion (over $800.2 million) in sales.
The company’s sales spanned Dubai’s luxury neighborhoods, including Palm Jumeirah, Business Bay, and Downtown Dubai.
- On Palm Jumeirah, OMNIYAT properties recorded AED 2.18 billion ($593 million) in sales through 33 transactions, commanding a 58.1 per cent share of the ultra-luxury market on the island.
- In Business Bay and Downtown Dubai, the company achieved AED 758.3 million ($206.4 million) in sales across 13 transactions, capturing 43.5 per cent of the $10 million-plus market.
Two of OMNIYAT properties flagship projects – ORLA Infinity, Dorchester Collection, Dubai and The Lana Residences, Dorchester Collection, Dubai set new benchmarks in the market.
At ORLA Infinity, all 20 ultra-luxury duplex residences were sold by August 2024, generating AED 1.4 billion ($385.4 million) in sales. One of the properties achieved a staggering AED 10,000 per square foot, making it the most valuable off-plan property on Palm Jumeirah last year.
Meanwhile, The Lana Residences saw the sale of its final penthouse for a record-breaking AED 139 million ($37.8 million) in May 2024, cementing OMNIYAT properties’ status as the go-to developer for ultra-luxury properties.
Mahdi Amjad, Founder and Executive Chairman of OMNIYAT properties said: “For over two decades, OMNIYAT properties has been a pioneer in curating elevated lifestyle experiences. We’re gratified to see Dubai’s market attracting the discerning individuals we envisioned as our community. Our continued success and track record reflect the trust and satisfaction of our customers, who share our vision of refined living. There could be no better endorsement for us.”
“As Dubai’s real estate market continues to attract global investors seeking exclusive living experiences, the $10 million-plus segment represents the pinnacle of this evolution. Our vision has always been to craft masterpieces that offer exceptional living experiences, firmly establishing OMNIYAT properties as the developer of choice for the world’s most discerning clientele.”
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