Dubai continues to solidify its reputation as a global luxury hotspot, with the latest addition to its high-end property portfolio being a collection of Nordic-inspired villas in the Al Wasl district. Valued at AED 1 billion, the development has been unveiled by fäm Real Estate Development, targeting ultra-high-net-worth individuals (UHNWIs) and affluent international investors.
Exceptional Sales Performance Highlights Market Potential
The project has already demonstrated strong demand, with the first two villas achieving remarkable sales figures of AED 61.5 million and AED 70 million. These residences epitomize understated luxury, blending Scandinavian design principles with modern functionality to cater to discerning buyers seeking elegance and minimalism.
Strategic Growth in Dubai’s Real Estate Market
Dubai’s real estate sector continues to thrive, bolstered by a significant influx of UHNWIs. In 2024 alone, over 6,700 millionaires relocated to the city, and this trend is expected to persist, with projections indicating an annual arrival of 6,500 UHNWIs through 2026. This steady inflow of global wealth reinforces Dubai’s position as a premier destination for luxury living and investment.
“As Dubai’s real estate market captures global attention, this exclusive collection of villas represents an unmatched fusion of design and lifestyle in the heart of the city,” commented Firas Al Msaddi, CEO of fäm Group.
Unveiling Al Wasl’s New Luxury Offering
The Nordic-style villas in Al Wasl are set to feature 10 bespoke residences, designed to generate over AED 10 billion in sales in the upcoming year. These properties are part of the Nordic by fäm series, following its initial launch earlier in 2024.
Residents in the Al Wasl district will enjoy the freedom to customize their villas within the guidelines of the Dubai Development Authority, ensuring a personalized touch while adhering to the highest standards of modern luxury. Additionally, the community provides round-the-clock security, enhancing its appeal to high-net-worth buyers.
Dubai’s Record-Breaking Property Market
The city’s real estate market is currently witnessing unprecedented price levels, particularly in off-plan developments along the Jumeirah coastline. Properties in these areas are selling at an average of AED 14,000 per square foot, with villa plots ranging between AED 3,000 and AED 8,000 per square foot.
“This surge in demand underscores the growing appetite for ultra-luxury residences, solidifying Dubai’s stature as a global hub for affluent living and high-value investments,” concluded Al Msaddi.
Source: https://www.arabianbusiness.com/industries/real-estate/dubai-real-estate-ultra-wealthy-buyers-targeted-with-new-aed1bn-scandanavian-style-villas-in-al-wasl
