Back to all real-estate news

Dubai’s $10m-plus home sales reach $6.67bn in 9 months despite Q3 slowdown

Knight Frank recorded 86 deals worth $1.57bn in the third quarter, with Palm Jumeirah leading activity as regional uncertainty weighed on the market.

Gulf Business
Gulf Business

22 October, 2026

Dubai’s $10m-plus home sales reach $6.67bn in 9 months despite Q3 slowdown

TT

16

Article Summary
Dubai recorded 86 luxury residential sales worth over $10m in Q3 2026, bringing the year-to-date total to 412 transactions valued

Dubai recorded 86 residential sales worth at least $10m each in the third quarter of 2026, taking the value of transactions in that bracket to approximately $6.67bn over the first nine months, according to property consultancy Knight Frank.

Sales during July–September totalled Dhs5.77bn ($1.57bn), including 13 transactions exceeding $25m. Quarterly volumes fell 34 per cent from 131 deals in the second quarter and were below the 103 recorded a year earlier.

Despite the quarterly slowdown, the number of $10m-plus transactions reached 412 between January and September, compared with 357 during the corresponding period of 2025.

Villas accounted for 55 of the quarter’s 86 transactions, representing approximately 64 per cent of sales.

Prices across Dubai’s 10 prime neighbourhoods fell 5 per cent between the second and third quarters, their first decline since 2020, according to Faisal Durrani, partner and head of research for the Middle East and North Africa at Knight Frank.

Transaction volumes across those prime neighbourhoods were 29.4 per cent lower than a year earlier, a separate measure from the $10m-plus segment.

Palm Jumeirah leads luxury activity

Palm Jumeirah recorded 27 sales worth Dhs2.01bn ($546.7m), accounting for approximately 31 per cent of $10m-plus transactions and 35 per cent of their value during the quarter. It also registered the quarter’s largest transaction, at Dhs260m.

Louis Harding, partner and head of UAE residential at Knight Frank, said Palm Jumeirah prices had eased 9.1 per cent over the preceding 12 months to Dhs4,083 per square foot.

Buyer interest continued to come largely from people seeking permanent or holiday homes rather than short-term resale opportunities, he said, while overall sales volumes on the island had fallen 37 per cent compared with the previous summer.

Harding added that lower third-quarter luxury sales compared with the second quarter were consistent with the historically quieter summer period.

Jumeirah Second ranked second by transaction count, with 10 sales totalling Dhs594.9m ($162m), followed by Emirates Hills, where seven homes sold for Dhs542.5m ($147.7m).

Dubai Hills Estate and Jumeirah Golf Estates each recorded six transactions, worth Dhs574.9m ($156.6m) and Dhs330.1m ($89.9m), respectively.
Biggest deals account for nearly a third of value

Of the quarter’s 86 transactions, 73 were in the $10m–$25m bracket, with a combined value of Dhs3.93bn ($1.07bn).

The remaining 13 deals exceeded $25m and generated Dhs1.84bn ($499.7m). They represented approximately 15 per cent of transactions by number but nearly 32 per cent of total value.

Palm Jumeirah accounted for five of those 13 deals, while Dubai Hills Estate and Emirates Hills recorded two each.

July was the busiest month by transaction count, with 36 sales worth Dhs2.04bn ($555.5m). August recorded 32 transactions totalling Dhs2.08bn ($566m), the quarter’s highest monthly value. September registered 18 deals worth Dhs1.65bn ($449m).

Although monthly transaction numbers declined, the value of deals exceeding $25m increased from Dhs376.1m in July to Dhs609.8m in August and Dhs849.5m in September.

Those transactions accounted for approximately 52 per cent of September’s total $10m-plus sales value.

UAE’s Lana Nusseibeh announces candidacy for UN secretary-general role

Lana Nusseibeh has taken a leave of absence from her position in the UAE Government to focus on her candidacy

Gulf Business
Gulf Business

22 October, 2026

UAE’s Lana Nusseibeh announces candidacy for UN secretary-general role
Image: Supplied

TT

16

UAE Minister of State Lana Nusseibeh announced her candidacy for United Nations secretary-general on Wednesday, pledging to strengthen conflict prevention and make the organisation more accountable, following her formal nomination by the United Arab Emirates.

Nusseibeh, the UAE’s envoy to the UN and European Union, has taken a leave of absence from her government responsibilities to focus on the campaign, according to her announcement.

She is seeking to succeed António Guterres, whose second term ends on December 31, 2026. Her announcement followed the Security Council’s latest informal straw poll on October 16, part of the process to select the next UN chief.

“I am standing to be secretary-general because I believe this is a moment to act with greater urgency: to act earlier, bring people together across differences, and drive the work forward until it produces concrete results,” Nusseibeh said.

She said the gap between the UN’s promises and its delivery had eroded trust and weakened its ability to act.
“I wish to offer myself to this office as I would serve it: speaking frankly with every government and answering to none.”

Lana Nusseibeh shares her vision

Her programme, outlined in a vision statement titled ‘A United Nations for the Next Eighty Years’, places peace and security at its centre, calling for earlier diplomatic engagement to prevent disputes from escalating.

It prioritises practical agreements, including humanitarian access, prisoner exchanges and local truces, intended to reduce suffering and create space for broader political settlements. These would be supported by continued diplomacy and verification of implementation.

Nusseibeh also proposes working more closely with regional organisations, local actors and mediators trusted by conflicting parties, arguing that the UN should support those best placed to achieve progress without necessarily leading every peace process.

Her reform proposals include requiring every major Secretariat programme to report its achievements against its costs, reducing duplication and moving leadership and resources closer to where they are needed.

She also calls for empowering staff in the field to act and deliver, clearer priorities and stronger accountability for results across the UN’s peace and security, development and human rights work.

On development, her programme would align cooperation with national priorities, emphasise job creation and seek fairer debt solutions, alongside partnerships with philanthropy and the private sector.

Nusseibeh said the UN should apply international law and universal human rights consistently and without double standards.

Her proposals on artificial intelligence and biotechnology include practical international cooperation and voluntary incident reporting, with broader participation by countries that use these technologies but do not develop them. She also calls for measures to help countries anticipate climate impacts and strengthen resilience in fragile settings.

Nusseibeh served as the UAE’s permanent representative to the UN from 2013 to 2024, including during its 2022–2023 term on the Security Council. She twice held the council’s rotating presidency.

Her previous roles also include vice-president of the General Assembly and president of the Executive Board of UN Women.

New pictures: RAK’s Wynn Al Marjan takes shape ahead of 2027 opening

Fresh photographs captured from the water show the scale of Ras Al Khaimah’s $5.7bn integrated resort as construction advances towards its September 2027 debut

Gareth van Zyl
Gareth van Zyl

22 October, 2026

New pictures: RAK’s Wynn Al Marjan takes shape ahead of 2027 opening
Latest photos taken by Gulf Business show the rapid development at the site. (Image: Gareth van Zyl)

TT

16

Rising above the Arabian Gulf, Wynn Al Marjan Island is rapidly transforming the Ras Al Khaimah skyline, with its landmark hotel tower now dominating the waterfront.

New photographs taken by Gulf Business this week offer a fresh look at the ambitious development, capturing the scale of the resort and the progress being made on its exterior and surrounding buildings.

The images show the tower’s distinctive bronze-coloured façade catching the sunlight, with the sprawling lower-rise resort structures stretching across the shoreline below.

Photo: Gareth van Zyl.

Wynn Al Marjan Island opening in September 2027

The resort is scheduled to welcome its first guests in September 2027, a date confirmed by Wynn Resorts in August.

The 70-storey hotel tower reached its highest structural concrete point in December 2025. Including its signature spire, the building is designed to reach 352 metres, making it the tallest structure in Ras Al Khaimah.

Work has since been advancing on the building’s exterior, interior fit-outs and surrounding hospitality facilities.

Photo: Gareth van Zyl.

The development’s estimated cost has risen to approximately $5.7bn, following a $600m increase attributed partly to regional disruptions, higher construction costs and supply-chain challenges.

Wynn Resorts holds a 40 per cent stake in the joint venture developing the project.

What will Wynn Al Marjan Island feature?

Once complete, the resort will offer 1,530 rooms and suites, 22 restaurants, bars and lounges, a theatre, luxury shopping, swimming pools, a spa and extensive beachfront facilities.

It will also house the UAE’s first licensed commercial gaming facility, following Wynn’s receipt of the country’s first commercial gaming licence in October 2024.

Photo: Gareth van Zyl

Earlier this month, Wynn unveiled further details of its planned 98-berth marina, which will accommodate superyachts of up to 85 metres and provide direct access to the resort.

The development also includes a 550-metre beachfront, with sheltered swimming areas and an engineered offshore reef.

Concept image of what the final design is set to look like.

Latest Saudi airport attack kills one as US orders embassy staff to leave

Eight people were injured in an attack on Dammam’s King Fahd International Airport, as Washington ordered non-essential diplomatic personnel and their families to leave Saudi Arabia

Gareth van Zyl
Gareth van Zyl

22 October, 2026

Latest Saudi airport attack kills one as US orders embassy staff to leave

TT

16

Another deadly attack has struck Saudi Arabia’s airports, killing one person and injuring eight in Dammam, as the US ordered non-essential diplomatic personnel and their families to leave the kingdom amid Houthi strikes.

Saudi Arabia’s General Authority of Civil Aviation (GACA) confirmed on Thursday, October 22, that King Fahd International Airport had been targeted on Wednesday evening.

The authority said one resident was killed and eight others injured, with their conditions ranging from minor to critical. All were taken to hospital for treatment.

View post on X

The attack also caused damage to airport property, although authorities said the full extent was still being assessed.

Flight-tracking service Flightradar24 reported that aircraft were being diverted away from the airport following the incident.

View post on X

The latest violence comes as Washington takes precautions in Saudi Arabia.

On Wednesday, the US State Department ordered non-emergency government employees and their family members to leave the kingdom, citing growing threats from Yemen’s Iran-backed Houthi movement.

“Iranian-supported Houthis have increasingly engaged in hostilities against Saudi Arabia, including attacks on civilian airports and other critical infrastructure resulting in civilian casualties and severe travel disruptions,” said the State Department in a statement.

US State Department spokesperson, Tommy Pigott, further stressed that the mandatory departure order applied to Saudi Arabia only, rejecting reports that similar orders had been issued across other Gulf states.

View post on X

The developments follow weeks of attacks targeting Saudi aviation infrastructure, including repeated strikes on King Khalid International Airport in Riyadh.

The capital’s airport resumed limited flight operations this week after being closed following an attack on October 10. Several international airlines, including Lufthansa and Air France, have extended flight cancellations into November.

Meanwhile, two people were killed and two others injured on Wednesday after debris from an intercepted drone fell at Saudi Aramco’s Shaybah oilfield, according to the Saudi Energy Ministry.

New speed limits on these 5 Dubai roads from November 1

Limits will rise on three streets and fall on two, with signs replaced and speed cameras adjusted ahead of implementation

Neesha Salian
Neesha Salian

21 October, 2026

New speed limits on these 5 Dubai roads from November 1
Image courtesy: RTA/ X

TT

16

Article Summary
From 1 November, Dubai is altering speed limits on sections of five major roads—increasing three and lowering two—to enhance safety and traffic flow.

Dubai will change speed limits on sections of five roads from November 1, raising limits on three streets and lowering them on two, following a review of traffic conditions and road safety.

The Roads and Transport Authority, working with Dubai Police, announced the changes on Wednesday.

They will apply in both directions along the affected sections.

Changes to speed limits

On Al Asayel Street, the limit will increase from 60 to 80 km/h between Oud Maitha Street and Al Meydan Street.

On Al Mustaqbal Street, it will rise from 60 to 70 km/h between Sheikh Rashid Street and Al Meydan Street.

The limit on Latifa bint Hamdan Street will increase from 60 to 70 km/h between Sheikh Zayed Road and Al Khail Road.

Meanwhile, Al Rebat Street’s limit will fall from 100 to 90 km/h between Marrakech Street and Sheikh Mohammed bin Zayed Road.

On Sheikh Sabah Al Ahmad Al Jaber Al Sabah Street, the limit will decrease from 80 to 70 km/h between 2nd December Street and Khalid bin Al Waleed Street.

RTA will replace speed-limit signs along the affected sections, while speed cameras will be reprogrammed to reflect the changes.

The adjustments follow an engineering and technical study conducted with an international consultant as part of the 2026 updates to the Dubai Speed Management Manual.

The review considered road characteristics and traffic conditions to improve traffic flow and safety. The changes form part of Dubai’s Traffic Safety Strategy.

Police impound 1,630 vehicles in separate crackdown

In other news, Dubai Police said they issued 7,735 traffic fines and impounded 1,630 vehicles for excessive noise and unauthorised modifications during the first nine months of 2026.

The General Department of Traffic recorded 2,045 excessive-noise violations and impounded 333 vehicles. It also recorded 5,690 violations involving unauthorised engine or chassis modifications, resulting in 1,297 impoundments.

Brigadier Juma Salem bin Suwaidan, director of the department, said loud cars and motorcycles, particularly those with modified engines or exhaust systems, disturbed residents and could distract road users.

He said police were intensifying inspections and traffic monitoring, particularly to address disruptive behaviour in residential neighbourhoods.

Fines you should know about

According to Dubai Police, driving a vehicle that causes excessive noise carries a Dhs2,000 fine and 12 black points. Unauthorised engine or chassis modifications carry a Dhs1,000 fine, 12 black points and 30 days’ vehicle impoundment.

Additional measures, including vehicle release fees in specified cases, may apply under Dubai Decree No. 30 of 2023 concerning vehicle impoundment, depending on the offence.

More vehicle-noise detectors planned

Dubai Police are preparing to expand the deployment of devices that detect and measure vehicle noise, helping officers identify offending vehicles and locations where violations occur.

Bin Suwaidan urged motorists, particularly younger drivers, to avoid illegal modifications and driving behaviour that disturbs residents.

He said increased enforcement and public awareness had contributed to a recent decline in excessive vehicle noise.

Police would continue monitoring and awareness campaigns to sustain that progress.

Motorists can find road-safety guidance through the Aman Roads Platform.

Shah Rukh Khan to bring Arijit Singh, Karan Aujla, Sonu Nigam to UNIFYD in Abu Dhabi

The festival will debut on Yas Island on March 20, 2027, with more than 15 artists performing across multiple stages

Neesha Salian
Neesha Salian

21 October, 2026

Shah Rukh Khan to bring Arijit Singh, Karan Aujla, Sonu Nigam to UNIFYD in Abu Dhabi
image courtesy:X/@iamsrk

TT

16

Article Summary
Curated by Shah Rukh Khan, the inaugural UNIFYD music festival takes centre stage in Abu Dhabi on 20 March 2027.

Bollywood actor Shah Rukh Khan has announced a new music festival in Abu Dhabi, with Arijit Singh, Karan Aujla and Sonu Nigam among the performers scheduled for its inaugural edition.

UNIFYD will take place at Etihad Live on Yas Island on March 20, 2027. The one-day festival will feature more than 15 artists across multiple stages, according to the organisers.

Produced by D’YAVOL Live and District, the event is being held in collaboration with the Department of Culture and Tourism – Abu Dhabi and Miral, in association with Emirates NBD.

Khan will serve as curator, shaping the festival’s artistic direction and creative vision. The announcement identifies him as the curator rather than a confirmed performer.

“I’ve spent a lifetime telling stories on screen and watching them bring people together. Music has that same extraordinary power,” Khan said.

“UNIFYD, produced by D’YAVOL Live along with District, will unite India’s most incredible artists on a shared stage for the first time.”

View post on X

Indian music takes centre stage at UNIFYD

The inaugural line-up brings together Singh’s Hindi film repertoire, Aujla’s Punjabi music and a special set by Nigam, with the festival aimed at audiences in India, the Middle East and the wider South Asian diaspora.

Organisers said the event was conceived as an international festival, with plans to expand into additional cities and markets. No further locations or launch dates were announced in the supplied statement.

“Indian music is already global. UNIFYD gives that cultural force a festival platform that matches its scale, ambition and influence,” said Bunty Singh, co-founder of D’YAVOL Live.

Rahul Ganjoo, CEO of District, said the partnership was intended to bring together audiences across musical genres and generations.

“Indian culture travels further than any single genre or generation, and UNIFYD is built to bring all of it together on one stage,” he said.

D’YAVOL Live is the live entertainment platform within the D’YAVOL Luxury Collective. District provides discovery and booking services for dining, events, activities and attractions.

Ticket sales

According to the organisers’ announcement, general ticket sales were scheduled to begin through the District app at 10.30am UAE time on October 20.

An earlier access window for Emirates NBD cardholders was scheduled from 9.30am on October 19 until 9.30am on October 20.

More news in real-estate

Dubai’s $10m-plus home sales reach $6.67bn in 9 months despite Q3 slowdown