Dubai's Palm Jumeirah district, an artificial island that has remained a symbol of the emirate for almost two decades, has always been a place of attraction for very wealthy expats and real estate investors. However, even in this area, it is easy to establish a gradation between the wealthy and the rich, the rich and the super-rich, the super-rich and the indescribably wealthy.
One of the places where the most affluent citizens of the world «flock» has become one of the branches of the island- palm Frond G. The leader in the most expensive deals in the emirate, this Palm Jumeirah area has been gaining more and more popularity among UHNWI buyers in recent months (persons with super-large net worth).
There are enough experts who claim that such a «Billionaires’ Row» can confidently compete with its counterparts from such world real estate market leaders as London and New York. By October 3, 2022, it became known about the sale of a villa in this area for over $82 million, which by a significant margin broke the previous record of Frond G — a deal for $76.2 million.
Housing, which cost 82 million buyers, is a super-elite object consisting of four floors in a building located on a plot of over 2.3 kilometers. But even with such costs, the purchase price turns out to be noticeably lower than the cost of a similar property, for example, in London, where the average price tag for a similar villa easily exceeds $105 million. This is nothing compared to the Dubai market, for which 82 million is the peak figure at the top of the sector's growth.
This difference lays a solid foundation for the continued growth of the popularity of the Dubai Row among foreigners in the coming years. Frond G is still a small set of the most expressive and exclusive villas, there are more of them than all that Palm Jumeirah has to offer in general, but still not enough to cover the existing demand from super-rich buyers. Many of the properties sold in recent months are under active construction. Others are just being planned for launch.
A wide range of key emirati developers also work in the area. In fact, there is what can be called an «arms race» between companies. The popularity of Frond G was born recently, it is an extremely young emirate market, practically undeveloped by one or another giant of the construction sector. In this, everyone sees a window of opportunity to sell the most exclusive, elite, large to the wealthiest of possible buyers.
Today, such buyers are a lot of super-rich citizens of European countries, wealthy buyers from Russia and India. The minimum price level for a villa in Frond G is at the level of $27 million.
