Once known for glitzy hotels and posh apartment towers, the Palm Jumeirah was once the hottest location in Dubai. But according to a new study, Palm Jebel Ali has replaced Palm Jumeirah as the leading location for homes priced above AED 20 million. in 2025.
A market study conducted by Penthouse, a UAE-based property developer, says that Palm Jebel Ali accounted for 21 per cent of all ultra-luxury transactions above AED20 million conducted in Dubai. The city logged 2,489 residential property transactions in 2025. Of these, 64 per cent was off-plan properties while 36 per cent was ready properties.
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As per the study report, a total of 517 homes were sold in the area, generating AED12.4 billion in sales value, the highest of any location in Dubai.
The second position was occupied by Oasis, which accounted for 12 per cent of ultra-luxury transactions with 307 deals. Palm Jumeirah placed third with 273 transactions, Arabian Business quoted the market report.
Palm Jebel Ali and The Oasis were driven entirely by off-plan sales, while Palm Jumeirah remained the leading location for ready ultra-luxury homes, the report added.
Ultra-high-net-worth clients are increasingly drawn to large-scale, waterfront-led master developments such as Palm Jebel Ali and The Oasis, while established destinations like Palm Jumeirah continue to command strong demand for ready, best-in-class homes,” Marcus Andersson, Head of Luxury Sales at Penthouse.ae and Off Plan at Metropolitan Premium Properties, was quoted by Arabian Business.
Besides these areas, the other locations with notable ultra-luxury transactions during 2025 included Dubai Hills Estate, Mohammed Bin Rashid City, Jumeirah and Downtown Dubai. Business Bay recorded the single largest transaction of the year, with a sky mansion at Bugatti Residences by Binghatti selling for AED550 million, the report added.
The study said that established locations, including Palm Jumeirah, Emirates Hills and Dubai Hills Estate, will maintain their stature as the key ultra-luxury markets. New developments are coming up at Palm Jebel Ali and The Oasis.