Dubai-based real estate developer OMNIYAT Properties has cemented its leadership position in Dubai’s ultra-luxury market, achieving AED2.94 billion ($800.4million) in sales in 2024. According to data from Property Monitor, a UAE-based real estate technology and market intelligence provider, OMNIYAT Properties captured more than one-third (37 percent) of the transactions in the $10 million-plus residential segment.
OMNIYAT Properties leads in super-prime real estate transactions
OMNIYAT’s supremacy in the super-prime category of apartments valued over $10 million reflects Dubai’s reputation as the global capital of ultra-luxury living, according to a statement. The super-prime segment represents the apex of exclusivity, attracting the world’s wealthiest investors and aficionados of exquisite living. OMNIYAT’s leadership in this realm testifies to over two decades of visionary developments and refined design.
Read more | OMNIYAT: Elevating exceptional living experiences
Record-breaking sales in 2024
According to Property Monitor, OMNIYAT led Dubai’s real estate market in 2024 regarding transactions over $10 million, in both total sales value and the number of transactions. OMNIYAT also dominated ultra-luxury real estate transactions in key districts such as Business Bay/Downtown and Palm Jumeirah, achieving a remarkable total of AED2.94 billion (over $800.2 million) in sales across 46 transactions, securing a commanding 37 percent share in the segment.
OMNIYAT Properties’ achievements on Palm Jumeirah
On Palm Jumeirah, OMNIYAT achieved AED2.18 billion ($593 million) in sales from 33 high-value transactions, commanding a 58.1 percent market share and reinforcing its status as the preferred developer in a globally coveted address. Similarly, in Business Bay and Downtown Dubai, OMNIYAT recorded AED758.3 million ($206.4 million) in sales from 13 transactions, capturing 43.5 percent of the market share in these elite urban districts.
Landmark projects
Driving OMNIYAT’s success are its landmark projects such as ORLA Infinity, Dorchester Collection, Dubai, where all 20 ultra-luxury duplex residences were sold out by August 2024, generating AED1.4 billion ($385.4 million) in sales. With the final sale, the exclusive off-plan properties in ORLA Infinity became the most valuable on The Palm Jumeirah in 2024, as a four-bedroom uber-luxury duplex reached a value of almost AED10,000 per square foot, according to Property Monitor data. Similarly, with The Lana Residences, Dorchester Collection Dubai, OMNIYAT sold its final penthouse for a record-breaking AED139 million ($37.8 million) in May 2024, solidifying its position as the undisputed developer of choice for ultra-luxury properties. These accomplishments reinforce OMNIYAT’s leadership in creating living experiences that blend architectural innovation, artistry, and luxury.
Vision for the future of ultra-luxury living
Mahdi Amjad, Founder and Executive Chairman of OMNIYAT, commented: “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 evolve as a magnet for 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. We have delivered on this promise, firmly establishing OMNIYAT Properties as the developer of choice for the world’s most discerning clientele.
