In Dubai, mansions are part of the city’s usual constructions and are a magnet for millionaires. A series of new developments have overtaken Dubai, with prices exceeding 100 million and featuring ultra-luxurious details that were previously impossible. Entrepreneurs from regions such as Europe, Asia, and America are the main buyers, and development companies are working to meet their most extravagant whims.
At a time when property values are rising due to excessive demand, in Dubai, companies are dedicated to pleasing the super millionaires who see this city as a paradise to live in. For this reason, there are true palaces with movable pool floors or large windows offering breathtaking views of the Gulf.
Why Dubai’s mansions attract the world’s multimillionaires
The construction of real castles in the heart of Dubai responds to the trend where demand is exceeding supply. As real estate specialists in the city indicate, prices will rise by 5% in 2025 in the emirate, following a significant increase of 67% in 2021. These values reflect the trend of the world’s wealthy choosing this location as a second home to purchase luxury mansions with the most eccentric details.
According to the consultancy Omniyat, the price per square meter in the city is a third less than in New York and a fifth of that in a city like London. What’s most curious about these data is that the amenities available in these places are inferior to those in Dubai, making this an added bonus that draws the most ambitious investors. Development companies have begun building houses of this kind and are willing to make any effort to achieve this.
Dubai’s extravagant residences at the mercy of the most ambitious entrepreneurs
Carrying out mansion projects is not an easy task for Dubai companies that must cater to the unthinkable whims of buyers. This does not always align with the city’s construction standards and unprecedented efforts must be made to satisfy them. Many of the new luxury villas feature glass domes that protect gardens and swimming pools from harsh weather, while others allow residents to swim from one end of the house to the other through the garden.
Within Dubai’s well-known artificial islands lies Billonaire Island, where there is a rotating car parking system that allows vehicles to be placed in the precise spot within exclusive mansions with private beaches. These luxury details attract wealthy individuals from across the globe but create tensions among development companies that do not always have the necessary level of investment to fulfill these requests. Many of them are so sophisticated that they require special services to bring them to fruition.
The most expensive whim and the current situation in Dubai
The testimonies of construction companies about the extravagances of millionaire buyers are incredible. Bloomberg compiled the reports from companies and detailed how clients requested features that are not easy to accomplish. Palace Group confirmed that one of their clients requested a glass wall measuring 17 meters by 4 meters, which had to be constructed in Germany and required permits to transport it to the Emirates without complications.
Beyond these demands, experts agree that this level of whim is being moderated in the country, and developers are finding it challenging to secure premium locations for their clients’ requirements. Added to this is the fact that demand in Dubai remains higher than supply, leading to a noticeable but moderate decline in purchasing trends.
