Flagship Nordic by fäm mansion anticipated to list at AED 275 million as launches of ultra-luxury homes in Dubai exceed AED 140 billion in five years.
Dubai’s top-tier residential market is entering a new chapter with the rollout of a AED3 billion collection of high-end homes situated in two of the city’s most coveted districts.
Departing from the traditional off-plan model widely used in premium development, each Nordic by fäm villa and mansion is completed before it is made available to buyers, prioritising clean, refined design over extravagant detailing.
This shift aligns with data from DXBinteract showing that more than AED140 billion worth of ultra-luxury properties have been released in Dubai within the past five years.
At the same time, villas priced above AED40 million have surged in volume, rising from 27 transactions in 2020 to 242 in 2024, with total transaction value increasing from AED0.89 billion to AED15.98 billion – representing growth of nearly 1,700%.
With two Nordic by fäm homes already sold and a third now newly available, a further 22 residences are currently in progress, including a landmark 35,000 sq ft mansion due for completion in December 2026 and expected to come to market at AED275 million.
By building first and presenting only finished residences to discerning buyers, the approach is reshaping expectations in the ultra-luxury sector and potentially signalling a shift away from off-plan sales in this segment.
“The market is overcrowded with claims of luxury and ultra-luxury,” said Firas Al Msaddi CEO of fäm Properties, who launched the concept through his company’s Nordic by fäm development arm last year. “We wanted to change that by doing the opposite to what normally happens – building first, showing next, and letting the homes speak for themselves.
“The aim is to create a new architectural benchmark for Dubai which is defined by Scandinavian minimalism, quality craftsmanship, and thoughtful design rather than traditional opulence.”
The first two homes in the Al Wasl District Collection were completed last year and sold shortly after for AED61.5 million and AED76 million, as part of Dubai’s closest freehold villa neighbourhood to the Burj Khalifa.
The brand’s newest home, a fully furnished freehold property priced at approximately AED98 million, has now entered the market within the same exclusive enclave of centrally located luxury villas.
Covering 21,000 sq ft, the six-bedroom home includes a private cinema, full spa suite with jacuzzi, steam and massage rooms, gym, and expansive indoor-outdoor living areas, all executed within a minimalist, uncluttered aesthetic.
The remaining 21 residences under development across Al Wasl and Meydan range from 10,000 to 25,000 sq ft and follow the same tailored design principles.
“Each home is individually designed and built,” says Al Msaddi. “There is no template. There are no copies. We’ve used our 18 years of experience here, and our particular expertise in the ultra-luxury segment, to come up with something Dubai truly needed, and hadn’t yet been built.”
“Ultra-modern minimalism is the future of luxury, getting away from loud marble and decorative clutter, toward calm, natural materials that won’t look dated over time. The only constant is the standard offering of highest quality craftmanship, large, open spaces, abundant natural light, and outdoors that give you freedom as well as privacy, all framed by tropical landscaping.”