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MERED said in a press release distributed via Zawya that Dubai’s real estate market recorded 87,800 transactions worth AED 291.7 billion during the first half of 2026, with off-plan properties making up 71 percent of the total. The developer’s analysis attributed the segment’s strength to buyer confidence in the emirate’s development pipeline, regulatory environment and infrastructure expansion. Approximately 121,000 new residents arrived in the same period, further supporting demand across residential categories, according to the statement. The analysis also placed more than 31,000 units on track for delivery by 2030, representing 8 percent of total new residential supply.
Average property prices rose 9 percent in the first half of 2026, the MERED assessment found, reflecting sustained interest that has influenced how luxury developments are designed and delivered. Buyers have placed growing emphasis on projects featuring exceptional architecture, international design collaborations and lifestyle amenities that create a distinct sense of place. High-end activity underscored the trend, with 296 homes sold for more than $10 million each and generating $5.1 billion, a new first-half record.
Transaction volume in that ultra-luxury segment increased 16 percent from the first half of 2025 while value climbed 14 percent, MERED figures show. The emirate leads the world in branded residences, the analysis noted, with 64 completed projects and another 87 in the pipeline. Branded homes command an average 64 percent premium over non-branded equivalents.
Michael Belton, CEO of MERED, said in the statement, “Off-plan property buyers commit before they can experience the finished product, so confidence must be earned through architectural quality, functionality and delivery credibility. As Dubai’s off-plan market continues to expand, these are the qualities that will define the next generation of luxury residences and reinforce Dubai’s position as one of the world’s most desirable places to live and invest. With ICONIC Residences Design by Pininfarina, MERED is responding to a more selective market by turning early promise into lasting value beyond handover.”
The ICONIC project is a 66-floor ultra-luxury tower in Dubai Internet City that has reached approximately 125 metres and Level 22 of construction, with handover scheduled for the third quarter of 2027, the company said. It combines Italian design heritage with contemporary living and draws on an international specialist team that includes Hirsch Bedner Associates, SERA Group, Currie & Brown and Bond Interiors. Situated between Palm Jumeirah and Burj Al Arab, the tower offers views of the Arabian Gulf together with direct access to Dubai Harbour, Downtown, Bluewaters Island, Emirates Golf Club and Sheikh Zayed Road.
MERED’s release described the developer as focused on pioneering luxury communities that integrate elements from automotive, yachting, wellness, sports and fashion disciplines through partnerships with globally recognised architects and designers. The statement positioned the sustained off-plan momentum alongside an expanding pipeline of architecturally distinctive projects as factors that will help Dubai maintain its standing among the world’s most active real estate markets.
