Dubai’s luxury property market recorded developer sales of AED10.92 billion in March, despite regional geopolitical tensions and the seasonal slowdown during Ramadan.

Transaction volumes rose 42% year-on-year to around 900 deals in the first 24 days of the month, according to data compiled by Keturah, with one week of activity still remaining.

The AED20–50 million segment saw 79 transactions worth AED2.36 billion, including several off-plan villa sales in the AED43–50 million range. In the higher AED50–100 million bracket, 16 deals worth AED1.04 billion were recorded, with a majority of transactions comprising off-plan apartments.

“The figures represent a strong signal of confidence in Dubai’s premium real estate market, particularly at a time of heightened geopolitical uncertainty,” said Talal M. Al Gaddah, CEO of Keturah.

High-value deals drive momentum

The momentum extended across segments, with 150 transactions worth AED1.99 billion in the AED10–20 million range. The highest volume of activity came in the AED5–10 million category, which saw 650 deals valued at AED4.54 billion.

At the very top end of the market, a luxury apartment on the Jumeirah Peninsula sold for AED422 million, while four land plots in Umm Suqeim First changed hands for between AED125 million and AED152 million.

“We continue to see sustained activity from high-net-worth buyers who are less influenced by short-term volatility and more focused on long-term value,” Al Gaddah added.

Off-plan demand remains strong

Developers say the continued inflow of capital is being driven by demand for off-plan properties, particularly in the ultra-premium segment.

“Off-plan investments are attracting a strategic buyer profile that is typically long-term in outlook,” Al Gaddah said. “These investors are highly selective and continue to deploy capital even in uncertain market conditions.”

The performance is notable given that real estate activity in the UAE typically slows during Ramadan, with fewer transactions recorded across segments.

Outlook remains cautious

Analysts note that Dubai’s luxury real estate market has increasingly positioned itself as a relatively stable investment destination, supported by constrained supply and sustained international demand.

However, they caution that prolonged geopolitical escalation in the region could test the durability of current momentum.

“While demand remains robust, any extended period of uncertainty could begin to weigh on sentiment and capital flows,” a market analyst said.