Emirates 24|7
Dubai: Dubai Sotheby’s International Realty has completed the UAE’s largest land acquisition transaction, involving the purchase of a beachfront plot on Naya Island valued at AED 560 million. The property, acquired by an unidentified European buyer, spans more than 80,000 square feet and represents one of the largest coastal land holdings ever recorded in Dubai. The acquisition highlights a new category of ultra-luxury coastal ownership, where large-scale single plots in prime beachfront locations remain extremely limited. The size of the property is nearly double the previous record, set in May 2026 with the sale of a 53,000 square foot beachfront plot on Naya Island. By comparison, coastal plots on Jumeirah Bay Island typically range between 14,000 and 25,000 square feet, with only a limited number reaching up to 37,000 square feet. Naya Island was launched in August 2025 by Shamal Holding and is located off the coast of Jumeirah. The development includes the region’s first Cheval Blanc Maison Hotel, alongside a limited collection of luxury beach residences, branded properties, and beachfront plots designated for private villa construction. The project reflects an emerging real estate model focused on exclusivity, limited supply, and larger plot sizes, setting a new benchmark within Dubai’s luxury coastal market. Investor confidence The transaction underscores strong long-term investor confidence in Dubai’s real estate sector. The scale of the deal reflects a type of investment approach focused on long-term value rather than short-term returns. Dubai continues to attract high-net-worth investors seeking assets designed for long-term holding, often with a view towards generational wealth. From Palm Jumeirah to Jumeirah Bay Island and now Naya Island, Dubai’s luxury coastal developments have continued to redefine exclusivity and attract global buyers. Global market context Unlike mature global coastal markets such as the French Riviera, which are characterised by stability and limited supply, Dubai’s coastal real estate sector is still experiencing growth. Recent data highlights strong performance across key locations, with Jumeirah Bay Island recording annual price growth of around 24 percent, while Palm Jumeirah posted moderate annual growth of approximately 5 percent. Among notable transactions this year, a 53,000 square foot beachfront property on Naya Island sold for AED 377 million, while Villa Jaya on Jumeirah Bay Island was sold for AED 280 million. Selective market and global demand Naya Island is designed as a highly selective development, offering limited acquisition opportunities and targeting a curated group of buyers. Demand for property on the island reflects a diverse international investor base. European buyers, including those from the United Kingdom, account for nearly 45 percent of demand, followed by Asia at around 20 percent, the Middle East at 18 percent, North America at 10 percent, and Oceania at 2 percent. Transactions are conducted discreetly, without public marketing, reflecting the nature of ultra-high-value real estate deals. Market expertise George Azar, Chairman and CEO of Sotheby’s International Realty in the UAE, UK, and Saudi Arabia, said the transaction reflects the highly specialised nature of this segment. He noted that acquisitions of this scale typically involve ultra-high-net-worth individuals and are conducted with a high degree of confidentiality, adding that such properties are rarely publicly available. He added that Dubai continues to offer strong value for this segment of investors, supported by the firm’s expertise across its international network.
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