Sales of homes worth $25 million or more doubled in Dubai last year after some of the world’s wealthiest people snapped up homes in the Middle East’s business and tourism hub, according to property consultant Knight Frank LLP.
A total of 56 ultra-luxury homes worth $2.27 billion were sold in the city in 2023, up from 28 properties worth $1.24 billion a year earlier. Most of those properties, 22, were on Dubai’s man-made palm-shaped Palm Jumeirah island and 15 were on the seahorse-shaped Jumeirah Bay island.