Two mansions in Palm Jebel Ali go on sale for $136m

Two palatial waterfront homes are on the market for $68m each and are expected to be complete in 2029.

Two palatial luxury mansions in Palm Jebel Ali are set to fetch up to $136 million (AED 250 million).

The homes will be sold on completion only, in a trend that is seeing more and more high-net-worth individuals (HNWIs) looking for a walk-through before committing to a purchase.

Nordic by fäm have been tasked with the responsibility of delivering the mansions to the Dubai real estate marketplace.

Palm Jebel Ali mansions target HNWIs

Nordic by fäm, is an ultra-prime development arm of fäm Properties, in a departure from the off-plan model that has long defined Dubai’s high-end property market.

Now at the final stage of design, each mansion will offer 20,000 square feet of built-up area on a 25,000-square-foot waterfront plot.

The living spaces are designed to maximise natural light, privacy and uninterrupted sea views. Completion is expected in 2029.

The two mansions in Palm Jebel Ali form part of a wider property portfolio strategy pursued by Nordic by fäm.

They have a broad portfolio of luxury homes that are valued at $816 million (AED 3 billion).

Firas Al Msaddi, CEO of fäm Properties, said that by completing the homes before inviting buyers, the company is removing uncertainty often associated with pre-construction sales.

“Today, more of the high-net-worth buyers we’re talking to are increasingly end-users who intend to live in their homes, and their priorities have changed.

“They want privacy, exclusivity and long-term value, and the deciding factors are the architecture, the build quality and the finish. They want to walk through the finished home before they commit,” said Al Msaddi.

Palm Jebel Ali’s rare waterfront positioning makes it one of the world’s most exciting real estate opportunities for global buyers.

“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.

The ultra-luxury home market in Dubai has enjoyed healthy growth over the last five years.

There has been more than $38.1 billion worth of transactions since 2021 across the Dubai ultra-luxury real estate marketplace.

Shaped by Scandinavian minimalism, precise detailing and materials used to last, each residence is individually designed and built without templates, so no two homes are the same.

Luxury amenities include professional-grade cinemas, private spas with jacuzzi, steam and massage rooms, gyms, and extensive indoor-outdoor living areas.