The activity in Business Bay was driven largely by branded residences, including Bugatti Residences and Burj Binghatti Jacob & Co. by Binghatti, as well as Vela Viento by Omniyat.
The figures suggest Dubai’s luxury property map is widening, with design-led and branded developments drawing buyers into neighborhoods that may not previously have competed as directly with established prime destinations such as Palm Jumeirah.
The shift comes despite a broader slowdown in market activity. DLD figures showed total Dubai property transaction volumes declined 37 per cent year-on-year in August, while sales values fell 44 per cent.
Luxury buyers favor off-plan homes
That selectivity was particularly visible at the upper end of the market.
The consultancy said the divergence suggests high-net-worth buyers are increasingly choosing projects and developers rather than purchasing from the available resale stock.
This follows continued strong interest in Dubai's luxury residential market. Recent market data has shown wealthy buyers increasingly prioritizing privacy, exclusivity, waterfront living, architectural quality and branded residences when choosing homes in the emirate.
Off-plan villas remain in demand
Transactions in the segment increased 15 per cent month-on-month in August, while their value rose 9 per cent compared with July.
The longer-term increase was considerably stronger. Off-plan villa and townhouse transaction volumes were 80 per cent higher than August last year, while sales value jumped 204 per cent.
In contrast, secondary villa and townhouse activity declined 14 per cent in volume and 10 per cent in value from July.
Written by
Alyaa Aldhanhani
Business Bay overtakes Palm Jumeirah as Dubai’s busiest prime property market | Khaleej Times
