A prime plot of land in Dubai’s ultra-exclusive Emirates Hills has just changed hands for an unprecedented AED 260 million (approx. $70 million) – the highest amount ever paid for a single piece of land in the UAE. Completely undeveloped, this 39,000 square foot parcel fetched a jaw-dropping AED 4,700 per square foot. The record-breaking transaction highlights the explosive demand for ultra-prime real estate in Dubai, where status, privacy, and prestige command a hefty premium.
The afternoon sun bounces off the marble driveways and glints on the chrome of a Rolls-Royce pulling into Emirates Hills. Behind a gate guarded by palm trees and uniformed security, the city’s most secretive neighborhood breathes a quiet opulence. And somewhere behind one of those manicured hedges, a plot of empty land has just made history.
Sold for AED 260 million – that’s about $70 million – the sandy parcel in Emirates Hills’ elite E-sector has broken every record in UAE real estate. No villa. No garden. Just 39,000 square feet of possibility. And a breathtaking price tag of AED 4,700 per square foot.
The deal was brokered by Provident Estate, who confirmed it was the most expensive land-only sale in the nation’s history. The buyer remains anonymous – as is often the case in Emirates Hills, a neighborhood known as Dubai’s answer to Beverly Hills, where privacy is prized above all.
“People don’t just buy land here,” says one luxury agent. “They buy legacy, lifestyle, and location.”
Indeed, Emirates Hills is more than just an address. With direct views over the lush Montgomerie Golf Course, the gated enclave is home to royals, billionaires, and global elite. The streets are lined with palatial mansions, and each plot is custom-built – a canvas for architectural dreams.
The sale comes at a time when Dubai’s luxury real estate market is setting global benchmarks. According to Knight Frank, Dubai recorded the most $10M+ property transactions globally in Q1 2024 – outpacing London, New York, and Hong Kong.
Factors like tax-free living, long-term visas, political stability, and top-tier infrastructure have turned Dubai into a magnet for the ultra-wealthy. And with limited stock in prime zones like Emirates Hills, demand far outpaces supply.
“This transaction is more than a sale – it’s a statement of confidence in Dubai's luxury market,” said Paul Kelly, CEO of Provident Estate. “And we expect more record-breaking deals to follow.”
While details of the buyer remain undisclosed, one thing is clear: the appetite for trophy assets in Dubai is growing – and plots like this are the crown jewels.
The record-breaking sale in Emirates Hills sends a clear message to global investors: ultra-prime land in Dubai is not just a luxury asset – it’s a long-term bet on one of the world’s fastest-growing luxury property markets.
Dubai’s high-end real estate segment has surged since 2020, driven by favorable tax policies, the Golden Visa program, and a safe, cosmopolitan lifestyle. According to Knight Frank, Dubai now leads the world in $10M+ property sales – a title that reflects its transformation from regional hub to global luxury capital.
For investors, this means significant appreciation potential on land parcels – especially in gated, golf-front communities like Emirates Hills. As demand continues to outstrip supply, such assets are likely to see further value growth. The AED 260 million deal sets a new benchmark for valuation and signals robust confidence in Dubai’s high-end property sector going forward.
