Palm Jebel Ali Mansions Set to Fetch Up to AED 250M
Two ultra-luxury mansions on Palm Jebel Ali are expected to command a combined value of up to $136 million (AED 250 million).
The properties will be offered for sale only after completion, reflecting a growing preference among high-net-worth individuals (HNWIs) to inspect finished homes before making a purchase decision.
Nordic by fäm has been appointed to bring the two mansions to Dubai’s luxury real estate market.
The ultra-prime development arm of fäm Properties is adopting a completed-property sales model, departing from the off-plan approach that has long dominated Dubai’s high-end residential market.
Currently in the final design stage, each mansion will feature 20,000 square feet of built-up area on a 25,000-square-foot waterfront plot.
Designed to maximise natural light, privacy and uninterrupted sea views, the residences are scheduled for completion in 2029.
The Palm Jebel Ali developments form part of Nordic by fäm’s broader strategy to expand its presence in Dubai’s ultra-prime property segment.
The company’s luxury residential portfolio comprises properties valued at $816 million (AED 3 billion).
Firas Al Msaddi, CEO of fäm Properties, said completing the mansions before putting them on the market would eliminate much of the uncertainty associated with purchasing properties during the construction phase.
He added that Palm Jebel Ali’s distinctive waterfront location presents significant opportunities for international property investors.
“Our decision to complete two ultra-luxury mansions there before offering them for sale reflects our long-term conviction and confidence in Dubai as one of the world’s most desirable locations for high-net-worth buyers,” said Al Msaddi.
Dubai’s ultra-luxury residential market has recorded sustained growth over the past five years, supported by demand from wealthy international buyers.
Since 2021, transactions worth more than $38.1 billion have been recorded across Dubai’s ultra-luxury real estate market.
Drawing on Scandinavian minimalism, refined detailing and durable materials, each mansion will feature an individual design rather than a standardised layout, ensuring that the two residences remain distinct.
Planned amenities include professional-grade cinemas, private spas with jacuzzis, steam and massage rooms, fully equipped gyms, and expansive indoor-outdoor living spaces.