More than 6,700 millionaires relocated to Dubai in 2024 alone, and projections indicate an annual influx of 6,500 UHNWIs through 2026.
Amid the ongoing growth in the Dubai real estate market, a new collection of ultra-luxury Nordic-style villas is set to launch in the Al Wasl district.
The AED 1 billion development was announced by fäm Real Estate Development and is set to attract ultra-high-net-worth individuals and affluent overseas investors.
“As Dubai’s real estate sector continues to attract worldwide attention, this exceptional collection of ultra-luxury homes offers an unparalleled blend of design and lifestyle in the heart of the city,” said Firas Al Msaddi, CEO of fäm Group.
The project will offer 10 villas and mansions with Scandinavian-inspired designs with a target to generate over AED 10 billion in sales in the new year.
“More than 6,700 millionaires relocated to Dubai in 2024 alone, and projections indicate an annual influx of 6,500 UHNWIs through 2026. This steady arrival of global wealth has bolstered the city’s position as a hub for luxury living and investment opportunities,” Al Msaddi added.
The announcement follows the initial launch of the Nordic by fäm development earlier this year. The first two villas recorded sales of AED 61.5 million and AED 70 million.
Source: Arabian Business
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