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Nordic by fäm plans to develop two luxury Mansion-class villas on the waterfront of the Palm Jebel Ali project in Dubai, with a target sale price of about $ 68.1 million (250 million dirhams) per palace, to be completed in 2029, and put up for sale after the completion of the work.
According to a press release issued today by the company and received a copy of it, the total target value of the two palaces together is about 136.1 million dollars (500 million dirhams), while the project is currently in the final stages of the design.
The built-up area of each palace is about 20 thousand square feet, on a plot of land overlooking the sea with an area of 25 thousand square feet, with a design focused on natural lighting, privacy and sea views.
Nordic by Fam follows fäm Properties and specializes in the development of ultra-luxury residential properties, with a model based on completing construction before the properties are put up for sale, rather than selling them on the map.
A real estate portfolio of $817 million in Dubai
The project is part of a real estate portfolio developed by Nordic by Fam in Dubai with a total value of about $817 million (3 billion dirhams), including luxury homes in the areas of Palm Jebel Ali, Al Wasl and Meydan, which the company intends to put up for sale after completion.
In the Al Wasl area, the company recently offered a villa for about $23.1 million (85 million dirhams), after selling two other houses in the same area of $16.7 million (61.5 million dirhams) and $20.7 million (76 million dirhams).
Fäm Luxe, the exclusive partner for Nordic by Fam, also plans to put a palace in the Meydan area for sale after it is completed during 2027, at a target price of about $ 74.9 million (AED 275 million).
The built-up area of the palace in the square is about 35 thousand square feet, and is currently under development.
197 sales of villas exceeding 40 million dirhams in the first half of 2026
According to data on the sales of ultra-luxurious villas in Dubai, 197 sales of villas exceeding $10.9 million (40 million dirhams) were recorded during the first half of 2026, with a total of about $3.88 billion (14.24 billion dirhams).
According to the data in the statement, the number of villa sales in this price category increased from 27 in 2020 to 282 deals in 2025.
The total value of these deals also increased from about $370.3 million (AED 1.36 billion) in 2020 to about $6 billion (AED 22.05 billion) in 2025.
The statement pointed out that Dubai has witnessed the launch of ultra-luxury residential units worth more than $ 38.1 billion (140 billion dirhams) during the past five years.
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