Dubai real estate: Which developers have sold the most $10mn plus apartments in 2024?

The luxury property market continued to boom in Dubai in 2024. Last year was another roller coaster for the Dubai real estate market, with the city’s property sector heating up more than ever before. But which developers sold the most expensive apartments in the city?

According to data from Property Monitor, OMNIYAT properties dominated the $10 million+ apartment space, securing a 36.8 percent market share. In second place was MERAAS with 12.9 percent, followed by SELECT GROUP in third place with a 9.7 percent market share. AHS PROPERTIES and NAKHEEL rounded out the top five with 9.4 percent and 5.1 percent market shares, respectively. One location in the city that proved to be a particularly bright spot for asset price growth was Palm Jumeirah. The top developer in the $10 million+ market here was OMNIYAT properties once again, with the firm commanding a staggering 58.1 percent market share, according to Property Monitor data.

SELECT GROUP took second place with 12.4 percent, and NAKHEEL secured third place with 10.9 percent. On the other end of the city, in the luxury hotspots of Downtown and Business Bay, OMNIYAT properties again claimed the top spot with a 43.5 percent market share, followed by H&H Development with 18.4 percent and EMAAR with 9.3 percent.

Last year saw Dubai’s real estate market achieving remarkable milestones. According to Property Monitor’s August 2024 report, the market recorded unprecedented transaction volumes, with expectations of surpassing 170,000 transactions by the year-end.