Parisian Hôtel Particulier Revamped Into Dream Home
Alexandre de Betak and his wife are focusing on their most personal project yet.
13 min
Alexandre de Betak, the 52-year-old designer behind some of the most viral fashion shows of the past 25 years, has staged runway spectacles in audacious locales. Through his Bureau Betak creative agency, he’s conceptualised shows from Dior runways in Moscow’s Red Square and under an 18-metre mountain of blue delphiniums custom built in the courtyard of the Louvre to a blue diamond catwalk inserted for Tiffany into Beijing’s Forbidden City.
After a day at the office conjuring another rapidly vanishing show for a client, de Betak wants nothing more than to design space for his family’s personal use. “I’ve spent my life designing for others,” he says, “so in a way designing for us and designing permanent homes is incredibly relaxing, just by the nature of being the same yet the opposite of what I do every day.”
By the time he finished his last home design project in 2016, a playful loft in downtown New York with a stripper pole in a hidden party room, he was already at work on a new place to live, a fixer-upper across the Atlantic on the Left Bank of the Seine.
Four years ago, he began to shift his centre
\of gravity to Paris, returning to the city he grew up in after more than two decades based primarily in New York. (Bureau Betak has offices in both cities, along with Shanghai and Los Angeles.) Alex arrived with his partner in life, his pregnant wife, Sofía, the 36-year-old Argentine creative director, graphic designer and boho-chic style influencer known to her friends and 350,000-plus Instagram followers as Chufy (a childhood nickname). They spent their first 18 months in the city glamping indoors, squatting, essentially, in the beautiful ruin that would become their new home, former offices stripped to the bone—four separate units on three floors of a 17th-century hôtel particulier. “We were sleeping with six hot-water bottles,” says Sofía. “We would get pieces of ceiling just falling on us, holes in the wall.” Adds Alex: “We were cooking in the fireplace, heating by the fireplace. It was very, very fun.”
While inhabiting the space, Alex mapped out plans for what it might soon become, imagining the sculptural staircase, in white gesso, that would wind down through three floors, the secret party room—all of his homes have one—he’d excavate in the basement. “I have to say it was great to design it from the inside,” he says. After Airbnb-hopping during the two years of construction, early last year, Alex, Sofía and their toddler daughter, Sakura, finally moved into the finished space.
Though Alex and Sofía were on the road constantly pre-pandemic, individually and as a unit, they filled their free time—there was rarely much of it—travelling for pleasure, too. Sofía grew up travelling—her mother ran a high-end travel agency in Buenos Aires. The couple named Sakura for the cherry blossoms that were blooming on a trip to Kyoto when they found out they were expecting a girl.
They were just back from a family vacation in Myanmar, and recently moved into their new home, when the first pandemic lockdowns started in autumn of last year. Alex was bedridden in those first uncertain weeks. He thinks it was Covid-19, though reliable tests were hard to come by back then. “I mean, we were lucky—we were in luxury confinement,” says Sofía, “but most people had it really, really tough.”
After spring Fashion Week in Paris wrapped on March 4, Bureau Betak saw its planned roster of shows heading into the summer vanish overnight. “Everything got cancelled,” says Alex.
Sofía launched Chufy, her eponymous line of travel-themed women’s clothing, in 2017, each collection inspired by a new destination, from the Pampas of Argentina to the savannas of Kenya. At the start of the pandemic, her business also came to a halt as the factory in India producing her flouncy blouses and flowy dresses shuttered.
Feeling restless stuck at home, she organized a charity auction online for Doctors Without Borders in April of last year, enlisting her friends to donate objects, expertise and experiences: a private polo class from Nacho Figueras, an online consulting session with Colette founder Sarah Andelman, a signed tennis racket from Maria Sharapova. Getting the auction going “kind of helped me get out of the darker cloud,” she says.
Alex is often dubbed the Fellini of fashion. In a good year, when his business hasn’t been crippled by a global pandemic, Bureau Betak might stage as many as 100 productions, working with young designers and veterans, avant-garde and legacy brands, on blowout presentations and smaller, more cerebral shows. “He’s always thinking about how to make it feel special; it doesn’t always mean it has to be the biggest and the brashest…not just the big extravaganza, although he is great at doing that; you could also have an intimate show,” says Michael Kors, one of Alex’s earliest clients, going back to the mid-’90s when he first set up shop in New York.
In spring of last year, as his health and the weather in Paris both improved, Alex got back to work from a laptop by a window with a view of the Seine. He began to devise a path forward for clients eager to start showing again. “After a couple of months you realize it’s going to be there for a while,” Alex says of the pandemic. “That’s when we started to really rethink the calendars and the format and everything.”
He had plenty of tools in his arsenal ready to go, having launched a creative agency, Bureau Future, a few years earlier, focused on the digital future of the live fashion show. “I believed for a long time that in order to give those great, live, in-person shows a reason to continue to exist, we needed to augment them digitally better, to film them better, to design them with the filming in mind and to transmit that better when we stream them,” he says. “And then, obviously, with Covid we accelerated the process quite drastically.”
Though many designers decided not to show at all last year, a few signed on for virtual shows, filmed with no audience. In July, French label Jacquemus, taking advantage of a moment of relaxed restrictions, opted to invite spectators to its live show outside Paris, shuttling 110 socially distanced VIPs to the winding catwalk Bureau Betak cut through a wheat field. “We bet together that we could do a show with a live audience,” says Alex. “We were very lucky. We caught a very small window.”
Filmed or live-streamed shows with no editors or influencers in attendance followed for Dior in Puglia, for Fendi in Milan and for Gabriela Hearst in the Brooklyn Navy Yard. As France began to open back up last summer, Sofía also got her business going again. From her home office in the apartment’s sun-drenched winter garden, with ivy climbing up lattice walls, she began sketching ideas for a new Chufy collection, inspired by her paternal grandparents’ Romanian heritage. “I just wanted to go through memories, old things from my grandparents; I travelled introspectively,” she says.
Evenings were spent at home, the family gathered around a custom-built kitchen island, Alex at the stove working through his rotation of pastas (“variations of vongole, bottarga and pesto,” as Sofía describes them). His two sons, Amaël, 20, and Aidyn, 17, from an earlier relationship with actress and model Audrey Marnay, would drop in from their mom’s place for a week at a time. At lunch there were picnics outside in the courtyard garden, chatting, socially distanced, with new neighbours in the hôtel particulier.
There were plenty of reminders, throughout the apartment, of Alex and Sofía’s old travelling life, mismatched accents—a pair of Moroccan candelabras here, a black lacquered Burmese pot there—brought home in suitcases or picked up online in hotel rooms in bleary-eyed bidding sprees.
“I can be in Shanghai or Tokyo and I’m jet-lagged and I’m online at an auction that’s in Italy or Eastern Europe and I’ll buy a piece from Japan,” says Alex. “I kind of see no boundaries.”
The building’s last tenants, offices of the museum of the Paris hospital system, stripped it of its historic character. As he planned his gut renovation, Alex imagined the space as it might have been when aristocrats lived there. He laid down new flooring to bring the place back in time, installing black-and-white pierre de Bourgogne stone on the ground floor, wooden parquet de Versailles upstairs above that. A golden hall of mirrors en route to his daughter’s bedroom brought a more theatrical 17th-century touch.
He filled the place with an eclectic mix of contemporary furniture and flea market antiques, pieces of Mario Bellini’s modular Camaleonda sofa across from a leopard-print chair from the 1940s. The seats in the living room, including his favourite Minotaure armchair from Pierre Augustin Rose by the window, were all reupholstered in the same rough-textured white fabric. Next to the master bedroom, antique panels on a Japanese theme, picked up at the Paul Bert Serpette market on the edge of Paris, became the closet doors inside a new dressing room. Much of the contents—mostly in monochrome black and white—were acquired with the new place in mind, after Alex auctioned off almost everything from his last Paris apartment back in 2018: 188 lots of kinetic art, toy robots and Star Wars memorabilia, among other collecting obsessions. “It was a brand-new time in our life,” he says. “I wanted to start from scratch.”
Though there’s some gravitas to the new space—“I wanted to do something very feminine and very romantic in a way and a lot softer than what I used to have,” says Alex—there’s still plenty of his signature whimsy throughout.
The basement nightclub space, hidden behind a mirror, features a night-sky mural inspired by 17th-century star maps with each family member’s zodiac constellation. (They’ve been watching movies there during the pandemic.) Upstairs, an archangel painting in the master bedroom opens into a projection TV screen. A bookcase in the library opens to reveal a secret passage down to the street. “We always have secret doors and secret escapes in every place we design,” he says. “Don’t ask me why.”
Alex lined the walls in his daughter’s bedroom in a classic Japanese motif, a collage of his own creation featuring bamboo, cherry blossom trees and kimono-clad figures that, upon close inspection, turn out to be miniature versions of her parents, grandparents, aunts, uncles and siblings. The French fabric firm Pierre Frey has added the design to their 2022 wallpaper collection, launching in January.
By midsummer of last year, the de Betaks had traded the city for their vacation home by the sea, a villa on Mallorca, which was built and completed by Alex in 2010. And they spent a few weeks of their summer holiday visiting friends on the island of Panarea, north of Sicily. Over an alfresco meal there, Sofía came up with an idea for another Chufy collection, a collaboration with André Saraiva, the graffiti artist known as Mr. A, who sat beside her sketching doodles inspired by their time together in the Aeolian Islands. “I [drew] a little volcano, a pasta—Alex is the king of the pasta with bottarga, so I did a pasta with bottarga—did all those little things we enjoyed during our summer,” says Saraiva, who was one of three best men at Alex and Sofía’s weeklong wedding in Patagonia in 2014. This summer Chufy debuts a capsule collection of caftan dresses featuring those Mr. A sketches on Sofía’s Italian island–inspired prints.
Saraiva, one of Alex’s oldest friends, says he has been to every home he’s designed. “I’m an expert on Betak design,” he says. “[Alex] has got a great sense of décor and space that designers have, but he has something that I really appreciate…there are always details that come from playing around, not everything is serious. He’s a big fan of Star Wars. There’s always little details that remind me of the Star Wars saga—in the new place, the blacks, the whites, the round stairs.”
Alex, who has no formal design training, was just 17 and still finishing high school when he fell into fashion in 1986. That year, on a family trip to Spain, he met a young clothing designer named Sybilla Sorondo who’d been building a cult following from her atelier in Madrid. Taken by her edgy work and the freewheeling scene around her, and by the creative spirit of La Movida that gripped Madrid in the post-Franco years, he found himself drawn to the city and into Sorondo’s orbit.
“At that time my workshop was a place where people would hang out; there was lots of movement,” recalls Sorondo. “All of a sudden [Alex] was the kid who was always there—‘Oh, he’s still here.’ ”
Eventually, Alex got a few fashion editors in Paris to take a look at Sorondo’s pleated frocks. “And that’s how my international expansion started,” she says. He became her official press agent and art director while still studying for his baccalaureate exam. They travelled to Tokyo and Milan together. And after graduation he launched Bureau Betak, still ill-defined as an enterprise, out of a home office, with Sorondo’s eponymous line, Sybilla, as its first official client. He added a Japanese modelling agency, L’Homme et La Femme, to his roster, scouting talent for them in Paris and also hunting for classic cars for the agency’s owner. “There was no name to a lot of what I was doing back then,” he says. The big bash Alex organized for the launch of Sorondo’s Paris boutique in 1991, featuring jugglers, acrobats and a live orchestra along with models showcasing the clothes, set the stage for his future fashion show work.
Shortly afterward Sorondo took a long break from the fashion world to focus on raising a family. Alex decided to move to New York.
With his first clients there, he started to challenge the status quo. In an early show under the tents at Bryant Park he suspended designer John Bartlett in a hammock above the catwalk, instead of dangling the brand logo as everyone else did. “Many creative decisions came to me spontaneously like that,” says Alex.
Very quickly he began to organize shows in offbeat locales, ramping up the spectacle in the process. His first collaboration with Kors, staged in a cavernous loft space in SoHo, featured a travel theme. “We had a train that took models through the Swiss Alps, we had a helicopter landing,” recalls Kors. “It was a really interesting way to present it, to get the feeling behind the collection, rather than doing the traditional fashion show.”
“I mean, nothing is impossible,” says Laura Mulleavy of Rodarte, who staged her first show with Bureau Betak just as her and her sister Kate’s label took off in 2007, of de Betak’s approach. “You can have an idea and then you translate it into a live theatrical experience.”
Many of Alex’s working relationships with designers have endured for decades, following the careers of John Galliano, Raf Simons and Kors, among others. In April Kors unveiled his 40th-anniversary show online, a filmed tribute to Broadway, directed by Alex, in New York’s theatre district. “I try to always have very long and deep relationships,” he says.
In the late ’90s, as Alex’s career was taking off in New York, in Buenos Aires his future wife, Sofía Sanchez Barrenechea, was getting an early start in the fashion world. In 1999, when she was 14 years old, Sofía was approached by a modelling scout while in church for her confirmation. Cast in a national campaign for John L. Cook, a big Argentine clothing brand, she was soon on billboards and shopping bags across the country.
“My picture was everywhere,” she says. “It was quite a shock—I mean, an ego boost but also very hard to handle.”
Sofía went on to study graphic design at the University of Palermo in Buenos Aires before moving to New York on an IMG Models visa in 2008. In between the occasional shoot, she pursued a career in design, working with beauty clients at branding agency Lloyd & Co. Sofía was back in Buenos Aires for the winter holidays in 2009 when Alex showed up at her family home—invited by her older sister, Lucia, a fashion journalist he knew from Paris. Though Alex’s estranged father, whom he didn’t grow up with, is from Argentina, this was his first time in the country.
“He spent Christmas with my family even before we started dating,” says Sofía. “I think first he liked the family and there was only one sister single, and it was lucky me.” They began seeing each other back in New York and were married five years later, surrounded by fashion royalty, the bride in Valentino couture, custom-embroidered in crystal and pearls.
This past March, as Paris prepared to go on lockdown again, Alex got his first AstraZeneca shot. Despite the slow vaccine rollout and surging virus cases in Europe, tentative plans were underway for bringing live audiences back to runway shows.
“Until the last minute everything I’m designing and everything I’m thinking of now has a plan B, with no audience, of course,” he says.
Even when the world finally opens back up, Alex would prefer that fashion didn’t fully return to its pre-pandemic ways. Early last year, just weeks before international borders began closing, Bureau Betak announced a new sustainability pledge, “Ten Commandments” intended to transform the business from the inside, vowing to reuse materials, sort and recycle, reduce nonessential flying and minimize fossil-fuel use.
“I’ve dedicated most of my life to ephemeral events that spend a lot of energy, a lot of carbon and a lot of money for a very short time and for, I hate to say, a useless topic, which is helping luxury brands sell more product,” says Alex. “So, considering all of this, it’s been forever that I’ve wanted to try to use what I can, which is basically the influence we have over our clients and their brands…to create a strong sustainability program within Bureau Betak and use it as a platform.”
And after a year mostly confined to his new Paris apartment, Alex is already thinking about his family’s next permanent home-design project—maybe a country house outside the city or a vacation spot in Patagonia. “I already have a design in mind for Patagonia,” he says.
Reprinted by permission of WSJ. Magazine. Copyright 2021 Dow Jones & Company. Inc. All Rights Reserved Worldwide. Original date of publication: May 29, 2021
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Accor to open the world’s largest Sofitel — Sofitel Jabal Omar Makkah — in 2026, featuring 1,141 rooms steps from the Holy Mosque. Developed with Jabal Omar Development Company, the project fuses French luxury with Saudi heritage, reinforcing Accor’s support for Vision 2030 and Makkah’s hospitality growth.
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< 1 min
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Chris Dixon, a partner who led the charge, says he has a ‘very long-term horizon’
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< 1 min
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Strategically located in Meydan Horizon, one of Dubai’s last remaining lagoon-front master-planned communities near Downtown, The Caden is positioned directly on the development’s defining feature — a man-made crystal lagoon.
The project offers spacious, meticulously designed residences with no studios, reflecting a commitment to low-density, high comfort living.
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The unveiling took place at Prescott’s newly upgraded experience center — a multifunctional space featuring a fully furnished show apartment, podcast studio, theatre, refreshment lounge, and meeting rooms. This venue reflects the developer’s ambition to raise the bar in Dubai’s competitive real estate landscape.
Chris Dixon, a partner who led the charge, says he has a ‘very long-term horizon’
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Damac Properties tops out the AED 1 billion Cavalli Tower in Dubai Marina — the world’s first Cavalli-branded tower, designed by Shaun Killa with interiors by Roberto Cavalli Home. Rising 71 storeys, the project marks a milestone toward completion by end-2026.
2 min
Damac Properties has reached a key construction milestone with the topping out of the Cavalli Tower, its AED1 billion ($272 million) ultra-luxury residential development and the world’s first tower with interiors designed by iconic Italian fashion house, Roberto Cavalli.
Cavalli Tower is now on track for handover by the end of next year.
Ali Sajwani, Managing Director, Damac Group, said: “Cavalli Tower is a structural and design landmark that embodies Damac’ss futuristic vision to blend fashion, architecture and art into Dubai’s skyline. With this topping out, we are one step closer to delivering a true global landmark in luxury living.”
Tian Sanchuan, Chairman and President, China State Construction Engineering Corporation Middle East (CSCEC ME), said: “We are proud to partner once again with our long-time collaborators Damac Properties on this extraordinary development. Delivering the world’s first Cavalli-branded tower demonstrates our shared commitment to precision, quality, and engineering excellence. Today’s topping-out ceremony testifies to the strength of our collaboration and our contribution to Dubai’s world-class skyline.”
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The topping-out ceremony, attended by project stakeholders from Damac and lead contractors CSCEC ME, marked the completion of the tower’s superstructure with the final pour of concrete on the 71st floor slab. Substructure works are now complete, with internal and external finishes now progressing toward completion.
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Chris Dixon, a partner who led the charge, says he has a ‘very long-term horizon’
Following the devastation of recent flooding, experts are urging government intervention to drive the cessation of building in areas at risk.
Accor to open the world’s largest Sofitel — Sofitel Jabal Omar Makkah — in 2026, featuring 1,141 rooms steps from the Holy Mosque. Developed with Jabal Omar Development Company, the project fuses French luxury with Saudi heritage, reinforcing Accor’s support for Vision 2030 and Makkah’s hospitality growth.
3 minACCOR, a global leader in the hospitality, is pleased to announce the signing of Sofitel Jabal Omar Makkah, a landmark property located in the heart of Makkah, within walking distance of the holy mosque. Set to open in 2026, this hotel will be the largest Sofitel Property in the world, with 1,141 rooms and suites.
“We are honored to introduce Sofitel in Makkah, a city that holds immense spiritual and cultural importance. Sofitel Jabal Omar Makkah will stand as a symbol of hospitality, serenity, and connection — a place where our French zest meets Saudi authenticity. This extraordinary project reflects our ambition to create meaningful cultural bridges through luxury hospitality in one of the world’s most sacred destinations.” — Maud Bailly, CEO Sofitel Legend, Sofitel, MGallery & Emblems
Sofitel Jabal Omar Makkah will occupy a prime location within the prestigious Jabal Omar master development, providing direct pedestrian access to the Haram, Islam’s holiest site. The hotel will feature 1,141 elegant rooms and suites across two towers – Sofitel Jabal Omar Makkah North and Sofitel Jabal Omar Makkah South – each offering breathtaking views of the Holy Mosque and the surrounding cityscape.
Designed to blend French art de vivre with Saudi cultural heritage, the hotel will feature a collection of refined restaurants and lounges, executive meeting facilities and fitness centers.
Across the towers, guests will discover six distinctive dining venues — including elegant all-day dining restaurants, a signature fine-dining destination celebrating French and Middle Eastern fusion cuisine, and intimate lobby lounges perfect for gatherings and reflection. A Club Millésime executive lounge will provide exclusive experiences for distinguished guests, combining culinary craftsmanship with personalized service.
Beyond dining, Sofitel Jabal Omar Makkah will offer curated sensory experiences that celebrate both French refinement and the spiritual essence of Makkah — from thoughtful wellness rituals and locally inspired teas to bespoke amenities crafted by Saudi artisans. Every detail, from fragrance to flavor, will be designed to honor Sofitel’s philosophy of Heartfelt and Committed Luxury with a French Zest.
The project is being developed in partnership with Jabal Omar Development Company (JODC), one of the largest publicly listed real estate firms in the Middle East and a key player in Makkah’s urban transformation. Renowned for its vision of creating world-class mixed-use developments that complement the spiritual essence of the Holy City, JODC is responsible for some of Makkah’s most prestigious hospitality, retail, and residential projects within the Jabal Omar masterplan.
This collaboration reflects a shared commitment between Accor and JODC to deliver an exceptional hospitality experience rooted in cultural respect, design excellence, and sustainable development.
“Sofitel Jabal Omar Makkah is a landmark achievement for Accor in the Middle East luxury sector. The hotel exemplifies our commitment to creating world-class properties that harmonize local heritage with French luxury, offering guests an unparalleled experience at the heart of Makkah.” — Jean-Baptiste Recher, Chief Development Officer Luxury Brands Middle East, Africa and Turkiye
“The Jabal Omar development represents a cornerstone of Makkah’s urban transformation, reinforcing Accor’s leadership in the Kingdom’s luxury segment, and supporting Saudi Arabia’s Vision 2030. The signing of the world’s largest Sofitel in Makkah reflects our ambition to grow the brand’s presence through landmark projects in key strategic markets, bringing the spirit of French luxury hospitality to a global stage. Sofitel’s proven expertise in operating large-scale hotels ensures we deliver exceptional guest experiences at any scale.” — Xavier Grange, Chief Development Officer, Sofitel, Sofitel Legend, MGallery & Emblems
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Chris Dixon, a partner who led the charge, says he has a ‘very long-term horizon’
Dubai’s property market hit AED 149B in Q3 with over 57,000 units sold, led by Business Bay. QUBE Development launched ELIRE Managed by LUX*, offering hotel-style luxury living with bespoke concierge and private chef services.
< 1 minDubai’s property market exceeded 57,000 residential unit sales in Q3, according to the Dubai Land Department, generating over AED 149 billion in transactions as the city enters the new quarter. Business Bay stood out with more than 4,500 transactions, cementing its position as one of the most sought-after areas in Dubai.
As homebuyers and investors continue to shape market trends, developers are responding with projects that align with evolving expectations, combining premium design with exceptional levels of service that go beyond traditional luxury. QUBE Development recently unveiled its new project, ELIRE Managed By LUX* in Business Bay, part of its AED 4.4 billion portfolio, showcasing a residential pipeline attuned to current market demands.
The upcoming branded residence, developed in collaboration with The Lux Collective, the award-winning global hospitality group behind LUX*, will offer residents a suite of high-end services. These include dedicated residence concierges and valets, in-residence catering, childcare, private chef dining, and personal shopping, ensuring every need is met. The lifestyle experiences cater to a new generation of local, regional, and international buyers seeking exclusive, ultra-luxury communities in the heart of Dubai.
“We’re seeing today’s buyers push the market forward with higher expectations for service, quality, and experiential living,” said Hala Adra, Project Director at QUBE Development. “ELIRE was conceived as a direct response to that shift. In partnership with The Lux Collective, and through the lens of their flagship brand LUX*, we’ve created a residential experience that merges hospitality precision with thoughtful design. From infrastructure and flow to finishes and service integration, every element is built around what tomorrow’s residents expect: a sense of belonging, a trusted brand, and a seamless living experience.”
Chris Dixon, a partner who led the charge, says he has a ‘very long-term horizon’
Saudi Egyptian Developers signed a deal with CCC to build its EGP 12B mixed-use project, Central, in New Cairo — a 160,000 sqm development of 10 premium buildings for offices, retail, and leisure. Construction begins November 2025, reinforcing SED’s focus on sustainable, world-class design.
< 1 minEgypt – Saudi Egyptian Developers has signed a contract with Consolidated Contractors Company (CCC) to execute its latest mixed-use development, Central, in New Cairo, with total investments exceeding EGP 12bn.
Under the agreement, CCC will oversee the full scope of construction and finishing works, covering buildings, façades, landscaping, public areas, offices, and parking facilities, in line with international quality standards. Construction is set to commence in November 2025 and is expected to be completed within four years.
Strategically located at the intersection of North and South 90th Streets and Mohamed Naguib Axis, Central spans more than 160,000 sqm. The development will include 10 buildings offering premium administrative offices, commercial outlets, and leisure spaces.
In October 2025, Saudi Egyptian Developers also signed a memorandum of understanding (MoU) to attract leading global retail brands to the project, as part of its plan to position Central as a landmark urban and business destination in New Cairo.
Mohamed El-Taher, CEO of Saudi Egyptian Developers, said the Central project reflects the company’s commitment to creating world-class, integrated urban destinations that combine quality, sustainability, and modern design. He added that the partnership with CCC underscores the company’s confidence in one of the region’s most reputable and experienced contractors.
Mohamed Tarek Kamel, Executive Director for Africa at CCC, described the collaboration as a strategic partnership that aligns with CCC’s vision to deliver sustainable, cutting-edge developments. He noted that Central will contribute to shaping New Cairo’s evolving commercial and business landscape.
Chris Dixon, a partner who led the charge, says he has a ‘very long-term horizon’
Banyan Group will host its first Laguna Phuket Property Showcase in Dubai, unveiling a US$1B Phuket portfolio of luxury beachfront residences. With visa-free entry, direct flights, and rising GCC demand, regional investment in Phuket has surged 500% since COVID.
3 min
Banyan Group, Thailand’s pioneering luxury hospitality and residential real estate developer known for its exclusive Banyan Tree Resorts will host its first ever Laguna Phuket Property Showcase in Dubai on November 7-8 at Banyan Tree Dubai, Bluewaters.
The exclusive event marks the debut of Banyan Group’s Phuket property portfolio in the Middle East – and will present a wide variety of investment opportunities from its US$1 billion pipeline of luxury residential properties which are set to be rolled out over the next three years.
“We are delighted to bring the beauty and investment appeal of Phuket directly to our GCC clients,” says Stuart Reading, Managing Director, Banyan Group Residences. “Dubai is the perfect gateway for introducing our new branded residences to a discerning audience seeking both luxury and long-term value.”
With seamless connectivity from the Middle East, visa-friendly policies and a welcoming environment for Muslim travelers, the island of Phuket is increasingly becoming a tropical investment haven for GCC investors, attracting growing interest from the region.
Banyan Group – Asia’s Leader in Branded Residences
The Laguna Phuket Property Showcase will feature Banyan Group’s newest developments within Laguna Phuket – Asia’s most iconic 1,000-acre integrated resort, located along 3.5 kilometers of pristine beachfront on Phuket’s prestigious central west coast.
Among the highlights will be the exclusive Banyan Tree Beach Residences, some of the most luxurious condominiums and penthouses ever built in Phuket, with idyllic settings right on the beach, many with their own expansive private rooftop pools. There are also new projects under the Angsana, Garrya, and Laguna Lakelands brands.
Banyan Group Residences is ranked No. 1 in Asia and No. 5 globally for branded residential developments and continues to redefine luxury resort living in the region by bringing its five-star hospitality expertise to the management of privately owned residences, which can also generate high rental returns.
Why GCC Nationals Are Choosing Phuket
Phuket offers a lifestyle that resonates deeply with GCC nationals. The island’s tropical climate, with year-round sunshine and temperatures ranging from 30 to 33°C, provides a perfect escape from the intense heat of the Gulf. The warm sea waters and pristine beaches enhance the appeal, offering a tranquil yet vibrant environment for relaxation and leisure.
Direct flights from the Middle East to Phuket and Bangkok provide seamless access, with major carriers from the UAE and Saudi Arabia offering frequent services. GCC nationals benefit from visa-free entry to Thailand, while long-stay options such as the Thailand Privilege Visa make relocation or frequent entry simple and convenient.
Phuket’s strong Muslim community and the abundance of halal-certified dining options, mosques, and prayer facilities make the island especially welcoming for Muslim travelers and homeowners.
Banyan Group reports that sales to buyers in the GCC countries has increased 500% post-COVID, and that this now places the region in one of the top 10 markets for its luxury real estate in Phuket.
Phuket’s Thriving Real Estate Market
Phuket’s property market continues to thrive, with foreign buyers now accounting for more than 60% of condominium sales. From beachfront villas and high-end branded residences to eco-friendly homes surrounded by lush tropical landscapes, the options are as varied as they are appealing. Historically, property values in Phuket have appreciated by 5-10% annually, supported by limited supply and robust tourism demand.
The island also offers exceptional value compared to other luxury destinations. For example, USD 1 million can purchase a 213 sqm luxury home in a prime location – approximately double the size of a similarly priced property in Dubai.
For investors seeking flexibility, Banyan Group’s rental management programs allow owners to enjoy their homes part of the year while generating income through professional five-star hospitality operations.
Laguna Phuket: Asia’s Leading Integrated Resort
Developed by Banyan Group over the past three decades, Laguna Phuket is an expertly master-planned community comprising seven international hotels, over 3,000 residences, an 18-hole championship golf course, spas, restaurants, retail precincts, and a wide range of leisure amenities.
The community is home to residents from more than 70 nationalities. Over the next several years, the Group plans to add more than 5,000 new residential units, including the landmark Laguna Lakelands, an eco-friendly lakeside neighborhood surrounded by forest and walking trails.
“Laguna Phuket has grown into a vibrant international community where families, retirees, and professionals from all over the world can thrive,” said Stuart Reading, Managing Director, Banyan Group Residences. “It offers an unmatched lifestyle and everything today’s global buyers are looking for in a secure and sustainable environment.”
Phuket’s Newest Lifestyle Attraction: RAVA Beach Club
A highlight for homeowners within Laguna Phuket is the newly opened RAVA Beach Club, Thailand’s largest and longest beachfront club. The word RAVA means sound and reverberation – which personifies this expansive beachfront space operated by Banyan Tree Phuket.
Located along 150 meters of Bang Tao Beach, RAVA features three infinity pools, private cabanas, and panoramic ocean views. Residents enjoy exclusive access and a 25% discount on food and beverage offerings – further enhancing the resort lifestyle experience.
Chris Dixon, a partner who led the charge, says he has a ‘very long-term horizon’
Dubai’s real estate soars in Q3 2025 with AED 138.3B in sales and record apartment demand driving growth — reaffirming the city’s status as a global property hub.
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Dubai’s residential real estate market continued to demonstrate its strength and resilience in Q3 2025, recording 56,015 transactions worth AED 138.3 billion. Despite a 6.4% dip in value quarter-on-quarter, total sales volume surged 11.4%, underscoring sustained demand and investor confidence across key segments.
Apartments and off-plan stay in front
Apartment sales soared to AED 93 billion this quarter, marking the highest value ever recorded in Dubai’s residential market. Volumes climbed 22% to 48,646 units, driven largely by off-plan apartment sales, which jumped 35% quarter-on-quarter. Off-plan transactions accounted for 70% of total sales volume and 59% of value, the strongest contributions on record. This trend highlights robust investor confidence and an active wave of new project launches across the city.
Villas and townhouses recalibrate
Following an exceptional first half, villa and townhouse transactions eased 30% QoQ, and values declined 34% QoQ, a natural post-rally adjustment as launches paused and buyers became more selective. Demand for larger family homes remains healthy in established and lifestyle-led communities.
Dubai’s property market is experiencing selective ascent rather than straight-line growth. Sales volume and value rose 18% year-on-year, reaching 56,015 transactions worth AED 139.7 billion, anchored by off-plan sales. Demand is tilting decisively toward new supply, particularly apartments, where deals jumped 28% year-on-year. By contrast, villas cooled and prime transactions eased 48% QoQ, suggesting a moment of pause rather than panic,” says Louis Harding, CEO at betterhomes
Record prices and expanding supply
Dubai’s average residential prices reached a historic high of AED 1,664 per sq ft, nearly double 2020 levels. This 5.2% quarterly rise was fueled by end-user demand, liquidity in mid-market communities, and favourable global conditions, including the U.S. Federal Reserve’s 25-basis-point rate cut that boosted affordability for international investors.
Supply also strengthened, with over 28,500 units delivered so far in 2025 and more than 200,000 units expected by 2027. Apartments made up 85% of Q3 handovers, led by Jumeirah Village Circle, Business Bay, and Town Square.
Inside betterhomes’ own metrics
betterhomes saw 24% year-on-year increase in transactions and 38% growth in sales leads. In contrast to the broader Dubai property market, townhouse demand led the surge, up 91% YoY, alongside a 12% growth in villas and 5% in apartments. Investor activity climbed to 63% of total buyers, reflecting Dubai’s growing appeal as a global investment hub.
In the rental sector, leasing transactions at betterhomes soared 92% year-on-year and 29% quarter-on-quarter, underscoring the city’s enduring rental demand. Average annual rents stood at AED 196,000, with apartments accounting for the majority of leasing activity.
Outlook for Q4 and beyond
As Dubai moves into the final quarter of 2025, the market is expected to maintain its steady trajectory. The combination of sustained population growth, infrastructure expansion, and global investor interest continues to reinforce Dubai’s position as one of the world’s most dynamic and resilient property markets.
Chris Dixon, a partner who led the charge, says he has a ‘very long-term horizon’
Aston Martin partners with Valor Real Estate Development to launch Aston Martin Residences Daytona Beach Shores, an 86-unit ultra-luxury project in Florida, blending British design excellence with coastal living — marking the brand’s latest milestone in global real estate expansion.
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Aston Martin today announces a new landmark real estate partnership with Valor Real Estate Development that will construct an ultra-luxury residential project in Daytona Beach, Florida – Aston Martin Residences Daytona Beach Shores – a new 86-unit development on the Atlantic coast.
Located just minutes from the iconic Daytona International Speedway and overlooking one of the world’s most famous beaches, Daytona Beach Shores marks the latest addition to Aston Martin’s established world class real estate portfolio, starting with the Aston Martin Residences in Miami to the recently completed four-bedroom town house in Tokyo’s Omotesandō neighborhood.
As with the previous Aston Martin residential projects, the new development is a close collaboration between Aston Martin’s design team and the project real estate partner. This ensures that all properties reflect the highly crafted, beautifully proportioned and cutting-edge technology of Aston Martin’s award winning automotive models, creating unique living spaces that reflect the ultra-luxury, high performance British marque.
Aston Martin Director of Brand Diversification, Stefano Saporetti said; “For Aston Martin, real estate is a seamless brand extension with our strategic vision centered on growing Aston Martin beyond the automotive world. This crucial new multi project partnership with Valor Real Estate Development in Daytona is engineered to meet client demand for exclusive, ultra-luxury living opportunities.
‘Our growing real estate portfolio creates ultra luxury living that provides discerning clientele with a truly elevated ownership proposition, permanently reinforcing the Aston Martin brand globally.’
CEO of Valor Real Estate Development, Moises Agami said; ‘For four decades, Valor Real Estate Development has stayed true to one vision: creating iconic developments that are, in a word, transformative. Daytona Beach Shores is a rising star in Florida’s luxury market; an exceptional community and city leadership with the vision and vitality we seek in world-class destinations.
‘Every drive deserves a destination, and partnered with Aston Martin’s unmatched craftsmanship, precision, and ultra luxury approach, Aston Martin Residences Daytona Beach Shores will redefine the market and set a new benchmark for oceanfront living in a location synonymous with speed.’
Aston Martin Residences Daytona Beach Shores is located at 3411 South Atlantic Avenue, providing residents with spectacular ocean views. The development lies just a short drive from the Daytona International Speedway. Founded in 1959, the circuit is the historic home of the Daytona 500 NASCAR race, as well as the 24 Hours of Daytona, one of the three races that form the Triple Crown of endurance racing, along with the 24 Hours of Le Mans and the 12 Hours of Sebring.
The historic tri-oval track, which can also be configured as a 24-hour road course, has many important associations with Aston Martin’s racing history. In 2023, the Aston Martin Vantages of The Heart of Racing scored a one-two class victory at the 61st Rolex 24 at Daytona. In January 2026, the Aston Martin THOR Team’s Valkyrie will make its Daytona debut at the 64th Rolex 24 Hours of Daytona.
Aston Martin Residences Daytona Beach Shores will consist of 86 residential units arranged across an 18-floor structure covering approximately 215,000 square feet (20,000m2). The new building, which includes two parking floors, will be topped with two penthouse floors containing a total of eight ultra-luxury double-height units.
All apartments will have access to a world-class package of residential amenities, while the mixed-use development will include fine dining and an artisan bakery. In addition, the beachside development will provide direct access to one of the world’s most famous beaches.
Aston Martin Chief Creative Officer, Marek Reichman said ‘Aston Martin’s residential projects give our design team a unique opportunity to go above and beyond. Our world-class experience with crafted materials and surfaces, high quality detail design, and dynamic, expressive forms finds a natural expression in architectural design. Every Aston Martin car is an expression of beauty, a quality that requires mastery of balance and proportion. All Aston Martin properties share this obsessive approach, providing the perfect canvas for us to express our skills.
‘Aston Martin Residences Daytona Beach Shores will allow us to take our holistic design approach to another level, with scope for the unprecedented integration of bespoke design elements, highly customizable spaces, cutting edge amenities, and a strong symbiosis with Aston Martin’s world renowned design language. Architecture and interiors are where Aston Martin’s experience and expertise in craft, performance and beauty can be expressed to the full.’
Valor Real Estate Development brings more than four decades of experience to the partnership. To date, the team has collectively developed over a billion dollars of real estate, with a renewed focus on high-end and luxury residential design in Florida. As part of this groundbreaking multi-project partnership additional landmark sites are already under review in Mexico City and Tampa Bay, Florida.
VP Valor Real Estate Development and Grupo Bosque Real, Loen Salame said; ‘For over four decades, our commitment has been to redefine living in urban locations. North American expansion remains a critical focus of our multi-project partnership, and we are excited to be exploring opportunities with Aston Martin for further landmark developments in Mexico City and Tampa Bay’.
Aston Martin Residences Daytona Beach Shores is scheduled to be completed by 2029.
Chris Dixon, a partner who led the charge, says he has a ‘very long-term horizon’
Sharjah’s real estate sector saw a 62% surge in foreign investments during the first nine months of 2025, reaching AED 23.2 billion, as investors from 121 countries drive strong demand — reinforcing the emirate’s global appeal and investment confidence.
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The Sharjah Real Estate Registration Department has reported a substantial increase in foreign real estate investments during the first nine months of 2025, emphasizing the confidence of regional and international investors in Sharjah’s robust investment climate and the resilience of its property market.
According to the Department’s latest report, the total value of transactions by foreign (non-Emirati) investors reached approximately AED 23.2 billion, reflecting an impressive 62.2% year-on-year growth compared to the same period in 2024.
Foreign investors engaged in trading 13,428 properties across the emirate, emphasizing the rising demand for ownership among investors from various nationalities. During the first three quarters of 2025, Sharjah attracted real estate investors from 121 different countries, reinforcing the emirate’s increasing global appeal as a secure and stable investment destination.
UAE nationals top the list of investors, with a total investment of AED 21.1 billion across 28,561 properties. Investors from non-Arab and non-GCC countries are second, with assets valued at AED 13.1 billion across 6,116 properties.
Arab nationals ranked third, investing AED 7.5 billion in 5,855 properties, while GCC nationals (excluding Emiratis) invested AED 2.6 billion across 1,457 properties.
The data revealed a widespread increase in investments across all investor groups. Investments by UAE nationals rose by 54.3%, those from GCC countries (excluding Emiratis) by 55.2%, and Arab nationals by 45.8%.
Meanwhile, international investors saw the highest growth rate at 74.9%, compared to the same period last year, highlighting Sharjah’s success in attracting global investors seeking sustainable real estate opportunities.
The report highlighted the leading nationalities investing in Sharjah’s property sector. India topped the list with a trading volume of AED 6.1 billion, followed by Syria with AED 2 billion, and Pakistan in third place with AED 1.5 billion.
Jordan ranked fourth with AED 1.37 billion, Saudi Arabia fifth with AED 1.26 billion, and Egypt sixth with AED 1.12 billion in total investments.
These figures highlight the global diversity of investors and demonstrate ongoing confidence in Sharjah’s stable economy, transparent regulations, and supportive investment environment.
Commenting on the report, Abdul Aziz Ahmed Al Shamsi, Director General of the Sharjah Real Estate Registration Department, stated, “The strong performance of the real estate sector during the first nine months of 2025 reflects the growing momentum in Sharjah’s property market. This momentum is driven by flexible regulations that allow non-Gulf citizens to own property in designated areas, in addition to the economic stability and attractive legislative environment that characterize the emirate.”
Al Shamsi added, “The increasing diversity of investor nationalities and the expansion of the investor base demonstrate Sharjah’s emergence as a regional hub for sustainable real estate investment. The emirate continues to play a vital role in advancing the UAE’s broader sustainable development agenda, reinforcing its position as a dynamic and inclusive investment destination.”
Chris Dixon, a partner who led the charge, says he has a ‘very long-term horizon’
Qatar’s residential rental market continues its rebound, with leasing activity and rents rising across key districts — driven by infrastructure growth, digital innovation, and tenant confidence post-World Cup, according to Tatami’s Q3 2025 report.
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Qatar’s residential rental sector is showing clear signs of recovery, with leasing activity accelerating across major neighbourhoods and average rents edging higher in select areas, according to the ‘Qatar Residential Rental Market Q3 2025 Report’ released by Qatar-based rental payment solutions firm, Tatami.
The report indicates that both apartment and villa markets have gained momentum over the past year, supported by infrastructure improvements, population growth, and shifting lifestyle preferences.
“The rebound reflects renewed tenant confidence following the post-FIFA adjustment period,” Aimen Bedawi, Co-founder & CEO of Tatami, told The Peninsula. “Improved affordability, stabilising rental values, and new supply in emerging districts such as Lusail and Msheireb have encouraged stronger leasing activity. At the same time, shifting tenant preferences toward smaller, better-managed apartments and family-oriented suburban communities are signaling a healthy normalisation of Qatar’s rental market.”
Apartment leasing strengthened across most districts, with The Pearl remaining the top destination for renters, followed by Al Sadd, Msheireb, and Fereej Bin Mahmoud. However, Lusail emerged as the standout performer, with Fox Hills recording an 81 percent surge in leasing volume.
Average apartment rents in Lusail and Msheireb increased by 9.8 percent and 3.5 percent, respectively, reflecting renewed confidence in premium urban living supported by mixed-use developments and modern amenities.
The data also highlights growing demand for villas outside Doha municipality, particularly in Umm Slal and Al Rayyan. Among the tracked neighborhoods, Muraikh led with an 84 percent increase in rental transactions, followed by Al Thumama (+42 percent), Al Gharrafa (+33 percent), and Al Wukair (+30 percent).
Average rents rose most notably in Umm Slal Mohammed (+6.3 percent), Ain Khaled (+5.3 percent), and Al Meshaf (+4.9 percent).
Bedawi stressed, “Infrastructure has been a catalyst for the suburban villa market. Areas like Umm Slal, Al Rayyan, and Al Meshaf have benefited from better road networks, access to schools, and connectivity to Doha’s employment corridors. This has made suburban living not just more practical, but also more desirable, driving consistent growth in both rental volumes and average prices over the past year.”
Lease renewals have also risen markedly, underscoring greater stability in the market. Apartment renewals increased from 5 percent to 8.2 percent of total transactions year-over-year, while villa renewals rose from 9.1 percent to 15.3 percent.
According to the industry expert, this upward trend in renewals reflects both stronger tenant satisfaction and the influence of digital innovation.
“Technology is redefining how landlords and tenants interact,” Bedawi said. “Digital platforms have become crucial touch-points that enable transparency, convenience, and trust across the leasing journey. Beyond payments, integrated property-management systems deliver real-time visibility into asset performance and tenant engagement, empowering landlords to make informed, data-driven decisions. Conversely, when tenants feel in control and valued through these seamless digital interactions, renewal rates rise, and that’s exactly what we’re seeing across Qatar’s rental landscape.”
With new supply concentrated in key urban and suburban districts, the report projects a more stable and sustainable rental environment going forward.
The combination of infrastructure-led suburban growth, digital transformation, and renewed confidence in Qatar’s post-World Cup economy positions the residential market for continued resilience and balance.
Bedawi further added, “The residential market continues to show healthy momentum, reflecting the broader confidence in Qatar’s economy. We’re now in a phase of consistent, sustainable demand, not speculative surges.”
Chris Dixon, a partner who led the charge, says he has a ‘very long-term horizon’
AMIS Development launches Derby Heights in Meydan, Dubai, a luxury residential project featuring Casamia’s design concept and set for handover in Q4 2027, redefining modern urban living.
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AMIS Development today announced the launch of Derby Heights, a residential project located in District 11, Meydan, Dubai. The development is set for handover in Q4 2027. The project launch took place today at AMIS sales center on Sheikh Zayed Road, Dubai.
Derby Heights introduces a refined vision of elevated living through a spatial edit by Casamia — a design narrative that brings together curated materials, tactile finishes, and refined aesthetics across the project’s shared and social spaces. The development reflects a commitment to thoughtful materiality and spatial harmony, creating an environment where design enhances everyday living.
This project paves the way for a new trend of locally branded residences in Dubai, setting a new standard for urban living—combining luxury, design, and comfort in every corner of Derby Heights.
The development offers exclusive units consisting of one-bedroom and two-bedroom apartments, each thoughtfully designed to provide a modern living experience. Located just 15 minutes from Downtown Dubai, 5 minutes from the Meydan Racecourse, and 20 minutes from Dubai International Airport, Derby Heights provides the perfect blend of privacy and proximity to key lifestyle destinations in the city.
The development features an array of exclusive amenities including a state-of-the-art gym, a rooftop infinity pool, an outdoor cinema, a grand reception area, and an outdoor kids play area—all designed to offer a refined living experience for individuals and families.
Neeraj Mishra, Founder and CEO of AMIS Development said: “We are thrilled to introduce Derby Heights to the market. This project reflects our commitment to creating spaces that redefine urban living. Through this development, we’re able to offer a unique concept with ‘a spatial edit by Casamia’, bringing a sophisticated touch to every shared space. We believe this development will set a new benchmark for luxury living in Dubai, providing a sanctuary that is both serene and conveniently located.”
Mohib Mithani, Co-Founder of Casamia, said: “We’re proud to see Casamia’s material and design sensibility represented within Derby Heights. Through A Spatial Edit by Casamia, this project brings an exquisite material philosophy to life, where every detail contributes to an atmosphere of refined comfort.”
Since its inception in October 2023, AMIS Development has swiftly made its mark as a prominent player in Dubai’s luxury real estate sector. The company’s commitment to quality, innovation, and long-term value has struck a chord with both investors and buyers, positioning AMIS as a distinguished name in the UAE’s highly competitive property market.
Chris Dixon, a partner who led the charge, says he has a ‘very long-term horizon’
Alexandre de Betak and his wife are focusing on their most personal project yet.
TownX Real Estate has completed its Luma Park Views project in JVC nine months ahead of schedule, preparing to hand over 600 luxury apartments. Valued at AED 4 billion, the project features smart homes, sky pools, Technogym-equipped gyms, and eco-efficient designs—underscoring TownX’s commitment to quality, innovation, and timely delivery across its growing Dubai portfolio.
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TownX Real Estate Development, one of Dubai’s fastest-growing real estate developers with an AED 4 billion project portfolio, has completed its marquee Luma Park Views project nine months ahead of schedule and is set to commence the handover of 600 residential units in Jumeirah Village Circle (JVC), Dubai.
Featuring one, two and three-bedroom luxury apartments with breathtaking park views, the project marks a significant milestone in TownX’s mission to deliver high-quality developments in record time.
Haider Abduljabbar, Executive Director of TownX, said: “Completing Luma Park Views nine months ahead of schedule underscores our relentless drive for excellence and efficiency. We are dedicated to pushing boundaries and setting new standards in real estate, ensuring that every project we deliver creates lasting value for our residents and investors.”
Luma Park Views offers a blend of cutting-edge technology, luxury amenities, and community-oriented design. Residents can enjoy two sky pools, two Technogym-equipped gyms, a spacious internal garden spanning 32,000 square feet, and a suite of smart home systems. The development also features advanced security systems, including face recognition technology in the lifts, as well as smart door locks, EV charging points, and temperature-controlled pools.
Equipped with Siemens appliances and smart home systems, each apartment at Luma Park Views offers a modern living experience designed for comfort, convenience, and sustainability. The development’s energy-efficient design, combined with spacious interiors and premium finishes, makes it an ideal choice for families and professionals alike.
Since its inception in 2017, TownX has focused on delivering projects ahead of schedule with exceptional attention to detail. With over 967 units delivered and 1,774 apartments currently under development, the company continues to expand its footprint in Dubai’s real estate market. Key developments delivered by TownX include Easy18, Easy19, Luma21 and Luma22 in JVC, while ongoing projects include 11 Hills Park at Dubai Science Park and Ashley Hills in Arjan.
With a focus on family-oriented communities, TownX designs spaces that cater to all generations, prioritizing high-end finishes, energy-efficient designs and spacious interiors. Above all, the company is committed to enhancing the daily lives of its residents through exceptional user experiences.
Chris Dixon, a partner who led the charge, says he has a ‘very long-term horizon’
Sydney’s prestige market is looking up, here’s three of the best on the market right now.
Dubai’s luxury property market surged in Q3 2025, with 103 homes sold above $10 million worth over $2 billion, up 54% year-on-year, per Knight Frank. The Palm Jumeirah led sales, while a $95.3 million mansion in La Mer marked the top deal, underscoring Dubai’s status as a global luxury hub.
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Dubai’s high-end residential market has enjoyed another stellar quarter, with 103 homes sold for more than $10 million in Q3, a 24% increase on Q3 2024, according to the latest data from global property consultancy Knight Frank.
Strong demand in the luxury segment saw 17 transactions priced over $25 million – more than twice the number recorded in Q3 2024.
The latest quarterly figures pushed the number of deals in the $10 million-plus bracket to 357 in the first nine months of the year, which equates to a 26% increase on the same period in 2024, when 282 homes over US$ 10 million were sold.
Total transaction values increased at an even greater rate than the number of deals, topping $2 billion in Q3, representing year-on-year growth of 54%.
This increased activity in the ultra-luxury market saw high-value sales push up the average deal value in the $10 million-plus segment to more than $19.4 million, representing a 23.8% rise on Q3 2024.
Faisal Durrani, Partner – Head of Research, MENA, said: “The fact that the growth in total transaction values for US$ 10 million homes is rising faster that the number of deals is a stark indication of how fast prices are rising in this exclusive segment of the market. Dubai’s luxury market has cemented its status as a safe haven for international and local buyers. It looks set to be another record-breaking year for the US$ 10 million-plus homes market, following the 435 deals registered during 2024.”
The highest price achieved in the third quarter was for a seven-bedroom mansion in Asora Bay by Meraas, in the La Mer community, which sold for $95.3 million.
Will McKintosh, Regional Partner – Head of Residential, MENA, added: “Community living and exclusivity remain a big draw for high-net-worth-individuals looking to purchase in Dubai. La Mer exemplifies this with its combination of wellness-focused beachfront living, extensive amenities and proximity to prime retail and leisure destinations. Destination communities like La Mer place a strong emphasis on lifestyle and world-class amenities, which strikes a chord with domestic and international buyers.”
Dubai’s prime neighbourhoods
Knight Frank’s Prime Index for Dubai, which tracks values across 10 key luxury communities, averaged AED3,767 psf in the quarter, representing an 8.5% uplift on Q3 2024 (AED3,475 psf). Palm Jumeirah retained its crown as the busiest community for prime residential transactions in Q3 2025, accounting for 34% of the total number of deals. It was followed by Jumeirah 2, which accounted for 17% of US$ 10 million-plus purchases.
Durrani concluded: “Our analysis shows global HNWI budgets considering a home purchase in Dubai stand at US$ 32 million, topping out at US$ 45.7 million for Saudi nationals. Overall, 15% of HNWI from Saudi, the UK, India, China, Hong Kong and Singapore are prepared to spend upwards of US$ 80 million on a home in the city this year, and there remains a clear gap in the market of uber-luxury housing.”
Chris Dixon, a partner who led the charge, says he has a ‘very long-term horizon’
Al Ghurair unveiled Al Ghurair Collection with Wedyan, a landmark Dubai Canal residence designed by Kengo Kuma, marking his first UAE project and setting a new benchmark for luxury waterfront living.
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Al Ghurair proudly introduces Al Ghurair Collection, the super-prime residential portfolio of Al Ghurair Development, the freehold real estate division of the company. Created to represent the pinnacle of Al Ghurair’s six-decade legacy, the Collection makes its debut with Wedyan, a landmark waterfront residence along Dubai Canal. Designed by world-renowned architect Kengo Kuma, in his first project in the UAE, Wedyan delivers on Al Ghurair Collection’s commitment to originality and craftsmanship to create something never seen before in Dubai.
Al Ghurair Collection is positioned as the most exclusive expression of Al Ghurair Development, reserved for residences of rare character in sought-after locations. Anchored in Al Ghurair’s track record in contributing to the evolution of Dubai, the company has active interests in banking, development, foods and mobility. The Al Ghurair family established the region’s first shopping mall and mixed-use concept in 1981, the first private insurance company in 1975 and the first private bank in 1967. The company has also been involved in major infrastructure projects such as Dubai Metro and the façade glazing of Burj Khalifa. To date, Al Ghurair has built and managed more than 20,000 residential and commercial units in Dubai, alongside nearly 1,000 hotel rooms and serviced units.
Sultan Al Ghurair, CEO of Al Ghurair Development, said: “Al Ghurair Collection marks a new chapter for us. It is a natural evolution of our commitment to the progress of the city. As Dubai has grown into one of the world’s most dynamic and successful destinations, and is increasingly drawing sophisticated residents from all over the world, the time felt right to introduce what we feel is the ultimate expression of exceptional living to be found here.
We created Al Ghurair Collection to develop buildings that don’t exist elsewhere. Our search for an architect that shares our commitment to originality and obsession with detail led us to Kengo Kuma, a visionary with a truly unique design perspective.”
John Iossifidis, Group CEO of Al Ghurair, said: “The launch of Al Ghurair Collection represents a defining milestone for Dubai’s real estate sector and reflects Al Ghurair’s future-focused strategic vision. We enter this space with the strength of a legacy built over six decades, anchored in trust, innovation, and an uncompromising commitment to quality and excellence.
Al Ghurair Collection will bring a fresh perspective to the market, powered by the integrated capabilities of our diversified business. Our mission is clear: to create visionary projects, build with purpose, and deliver spaces that provide enduring value, financially, socially, and culturally, for generations to come.”
The launch of Wedyan comes as demand for ultra-luxury property in Dubai reaches unprecedented levels. In the first half of 2025, the city recorded AED 431 billion in transactions, a 25% increase year-on-year, with sales of homes above AED 10 million growing more than fourfold in recent years. This market evolution reflects the interest discerning families from around the world have in making Dubai their permanent home.
Designed by Kengo Kuma and with its name meaning ‘valleys’, Wedyan is envisioned as a future landmark, marking his first project in the UAE. Kuma San, celebrated for cultural works such as the Japan National Stadium in Tokyo and the China Academy of Art’s Folk Art Museum, is recognised globally for an approach that harmonises architecture with nature. At Wedyan, he has applied this approach by shaping a façade inspired by the movement of water and sand. Its layered profile and textured exterior, echoes the rhythm of the desert and valleys, creating a building without precedent in the city.
Kengo Kuma said “Wedyan is a dialogue between Japanese aesthetics and the context of Dubai. Our design philosophy is to connect and create a conversation between architecture, nature and people. In this project, our purpose is to bring softness to the design and to create quietness through shadows that cascade and reflect across the façade, terraces and amenity spaces.
Collaborating with Al Ghurair has been exciting. They understand the value of design, and we share a mutual respect that naturally led to a positive harmony in bringing Wedyan to life,” he continued.
Soaring 46 storys high, Wedyan comprises 149 residences with a mix of three-, four-, and five-bedroom layouts, two full-floor penthouses and a three-story sky villa. Some of the key features include generous outdoor living spaces purposefully designed to be multifunctional, for maximum comfort and livability; additional back-of-house kitchen with separate access alongside the main kitchen, perfect for hosting catered dinner parties; and specialized glazing that protects owners’ artworks from UV rays. A selection of residences also come with standalone Japanese teahouse-inspired pavilions; easily adapted to suit residents’ needs, they could make the perfect setting for morning meditations or serve as a one-of-a-kind recording studio.
Al Ghurair Collection worked with more than 30 specialists to consider every aspect of how to live well, among them, lighting, kitchen, façade and parking consultants. The landscaping is realized in collaboration with Gustafson Porter + Bowman, integrating greenery and water features into every level of the building. Deep-planted terraces and shaded promenades create gardens in the sky, enhancing privacy. The planting palette includes species selected for their resilience, aesthetics and compatibility to Dubai’s climate, such as aloe vera, Bismarck palm and trailing ice plants. At ground level, a landscaped promenade and shimmering water accents contribute to the beauty of Dubai Canal.
Featuring every possible convenience a resident might need to live well, Wedyan offers more than 65,000 sq ft of amenity space carefully distributed across distinct levels in the building. Just below ground level, The Oasis arrival experience is lined with greenery and water features that lead into a luxury car stacker which is humidity- and temperate-controlled. The Shore and The Valley on Levels 2 and 3, are dynamic spaces for active living and leisure time with family and friends, as well as for hosting and entertainment. The Cave is a curated wellness cocoon situated on Level 17 and The Mountain located on the 36th floor is a dedicated space for private meetings. Some inspiring amenities include private treatment rooms allowing residents to bring their own trusted therapists, reformer Pilates studio, a podcast room, and boxing facilities. Filtered air and water systems are integrated throughout the building to support overall wellbeing.
Positioned on one of Dubai’s prime waterfront locations, Wedyan places residents within minutes of the city’s cultural, business, and retail districts, including Business Bay, Jumeirah, and Downtown Dubai, as well as within 20 minutes of Dubai International Airport. Al Ghurair Collection’s dedicated Sales Centre in the Mashreq HQ Tower in Downtown Dubai will welcome prospective buyers, providing an immersive introduction to Wedyan and its design ethos.
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