AED3bln Build-First Ultra-Luxury Collection Breaks New Ground In Dubai Real Estate

Dubai’s ultra-luxury real estate segment is being given a new dimension by a AED3 billion portfolio of properties under development in two of the city’s prime neighbourhoods.

Avoiding the usual dependence of high-end developers on off-plan sales, each Nordic by fäm mansion and villa is completed before being introduced to the market, focusing on simplicity not opulence.

This double break from tradition comes as data from DXBinteract now shows that more than AED140 billion worth of ultra-luxury homes have been launched in Dubai in the last five years.

Meanwhile, sales of AED40M+ villas grew from 27 in 2020 to 242 in 2024, with transaction value soaring by just under 1,700% during this period from AED 0.89 billion to AED 15.98 billion.

With the first two Nordic by fäm properties already sold and another just hitting the market, an additional 22 currently under development include a flagship 35,000 sq ft mansion scheduled for completion in December 2026, and expected to list at AED 275million.

The idea to build first then offer exclusive viewings to wealthy investors is breaking the mould in a way which could lead to off-plan sales in Dubai’s ultra-luxury market become a thing of the past.

“The market is overcrowded with claims of luxury and ultra-luxury,” said Firas Al Msaddi CEO of fäm Properties, who launched the concept through his company’s Nordic by fäm development arm last year. “We wanted to change that by doing the opposite to what normally happens – building first, showing next, and letting the homes speak for themselves.

“The aim is to create a new architectural benchmark for Dubai which is defined by Scandinavian minimalism, quality craftsmanship, and thoughtful design rather than traditional opulence.”

Within weeks of completion last year, the first two villas in the Al Wasl District Collection sold for AED61.5 million and AED76 million respectively, at the city’s closest freehold villa community to the Burj Khalifa.

The brand’s third offering, a fully furnished freehold residence priced around AED 98 million, has just been released into the market at the same limited enclave of ultra-luxury villas within Dubai’s most central freehold zone.

Spanning 21,000 sq ft, the six-bedroom villa has a professional-grade cinema, private spa with jacuzzi, steam, and massage rooms, gym, and extensive indoor-outdoor living areas, all within a simple and uncluttered design.

The other 21 additional mansions and villas now under development in the Al Wasl and Meydan areas of Dubai range from 10,000 sq ft to 25,000 sq ft, and follow the same blueprint.

“Each home is individually designed and built,” says Al Msaddi. “There is no template. There are no copies. We’ve used our 18 years of experience here, and our particular expertise in the ultra-luxury segment, to come up with something Dubai truly needed, and hadn’t yet been built.”

“Ultra-modern minimalism is the future of luxury, getting away from loud marble and decorative clutter, toward calm, natural materials that won’t look dated over time. The only constant is the standard offering of highest quality craftmanship, large, open spaces, abundant natural light, and outdoors that give you freedom as well as privacy, all framed by tropical landscaping.”