Business Bay emerged as Dubai’s busiest prime property address in August, recording 14 prime transactions and moving ahead of Palm Jumeirah and Downtown Dubai, according to an analysis of Dubai Land Department (DLD) data by betterhomes.
The shift is one of the clearest signals from August’s Dubai real estate data, with luxury buyers increasingly concentrating on branded residences and new developments. Business Bay’s prime activity was driven largely by projects including Bugatti Residences, Burj Binghatti Jacob & Co. by Binghatti and Vela Viento by Omniyat.
While overall Dubai property transaction volumes and values were lower year-on-year, the data points to stronger activity in specific parts of the market rather than a uniform trend across the city.
Business Bay leads Dubai prime property activity
Business Bay recorded 14 prime transactions in August, compared with 10 on Palm Jumeirah and eight in Downtown Dubai.
The result puts Business Bay at the top of the monthly prime-property transaction count, highlighting how branded residences are expanding Dubai’s luxury residential map beyond its traditional prime locations.
The projects identified in the data include Bugatti Residences, Burj Binghatti Jacob & Co. by Binghatti and Vela Viento by Omniyat.
For buyers looking at Dubai luxury property, the figures suggest that the appeal of a prime address is increasingly being linked to the individual development and brand as well as the wider neighbourhood.
Importantly, the August figures do not indicate that Palm Jumeirah is losing its position as a luxury destination. Instead, they show that other Dubai communities are attracting more high-value transactions as branded residential projects become a larger part of the market.
Dubai real estate buyers are shifting towards off-plan villas
The strongest growth in the data was seen in off-plan villas and townhouses.
DLD figures analysed by betterhomes show off-plan villa and townhouse transactions increased 15% from July to August, while their value rose 9%. By comparison, secondary villa and townhouse transactions fell 14% in volume and 10% in value over the same period.
The longer-term comparison is even more pronounced. Since August 2025, off-plan villa transaction volume has increased 80%, while transaction value has risen 204%.
Secondary villa activity has moved in the opposite direction, with both volume and value down by roughly 60% over the same period.
For buyers, the figures point towards greater interest in securing homes earlier in the development cycle rather than focusing predominantly on completed resale properties.
Prime off-plan property gains as resale activity slows
The same pattern appears at the luxury end of the Dubai property market.
According to betterhomes’ analysis of DLD prime transaction data, ultra-luxury off-plan sales increased 12% year-on-year in August, while prime resale transactions declined 67%.
That suggests luxury buyers who are still active in the market are showing a preference for particular new developments, developers and addresses.
The shift is particularly relevant as Dubai’s branded-residence sector continues to feature prominently in prime transactions, with Business Bay’s August performance providing a notable example.
Average Dubai property transaction value rises
Despite fewer transactions overall, the average value of apartment and villa sales increased 7% month-on-month in August, while average apartment prices increased 4%, according to the DLD data analysed by betterhomes.
That means the buyers completing transactions in August were, on average, committing more money per deal.
The figures provide a more nuanced picture of Dubai real estate activity than transaction volumes alone, with activity becoming increasingly concentrated in higher-value properties.
Dubai’s biggest August deals included Downtown and Palm Jumeirah
High-value transactions also featured prominently during the month.
DLD records show an Dhs 725 million whole-building sale in Downtown Dubai, covering more than 250,000 square feet at Dhs 2,845 per square foot.
A villa on Palm Jumeirah also changed hands at Dhs 15,717 per square foot, described in the analysis as a market-leading transaction.
These deals underline that substantial transactions continued to take place across Dubai’s established prime locations even as overall market activity moderated.
Richard Waind, CEO of betterhomes, said: “Dubai is increasingly behaving as a collection of distinct micro-markets rather than one market moving in a single direction. The headline numbers are softer, but there are still clear pockets of strength. What we are seeing is a more considered market, where buyers are scrutinising value more closely and stronger properties are continuing to transact.”
For Dubai property buyers and investors, the key takeaway from August is therefore less about the overall transaction decline and more about where buyers are choosing to transact. Business Bay’s move ahead of Palm Jumeirah in prime transaction volume is one example of how branded and design-led developments are reshaping the city’s luxury property landscape.’
tanvir@dubainewsweek.com
