The performance of Dubai’s real estate market over the first six months of 2021 has been phenomenal to say the least, with the sale of two Palm Jumeirah villas for a price of over AED 100 million (more than $27 million) each and a record-breaking month in April. The second half of the year is already looking to rival that performance with the signing of Dubai’s most expensive rental deal – a villa on Palm Jumeirah rented at AED 3.88 million (just over $1 million).

The deal was brokered by Riccardo Scala, the Head of Luxury Sales and Luxury Leasing at award-winning brokerage LuxuryProperty.com and the man behind the two most expensive villa sales this year. One of Dubai’s leading real estate agents with multiple awards for individual, monthly and quarterly transactions, Riccardo has been at the top of his game this year. The villa is being operated by Luxury Explorers’ Collection, a high-end provider of concierge and property management services, while tenant details are confidential.

“Since Covid-19 gripped the world some 18 months ago, we have seen a dramatic rise in the demand for super prime properties,” says Riccardo. “Buyers and tenants moving to Dubai are not just looking for a home that is aesthetically pleasing, but one that provides privacy and security for their families. Areas like the Palm Jumeirah tick all of these boxes for our clients and transactions of this nature show the strength of the market in 2021, for both sales and rentals.”

One of the prevailing trends that Riccardo has seen this year is the demand for homes that are fully furnished and turnkey, with additional services such as concierge and housekeeping, both of which are provided by Luxury Explorers’ Collection.

“The first half of this year has been just incredible, and at the rate that demand is climbing, we are far from done. I am sure that quite a few more record-breaking deals will be announced before the end of this year.”