Dubai Off-Plan Apartment Sells for AED 166 Million at Aman Residences: Ultra-Luxury Defies the Summer Slowdown

An off-plan apartment at Aman Residences Dubai in Jumeirah Second has sold for AED 166.07 million, one of the largest apartment deals recorded in the emirate this year, and a striking one for its timing. It closed in the middle of the summer, the season when Dubai's mid-market traditionally slows to a crawl.

The unit measures 10,021 square feet, which puts the price at roughly AED 16,572 per square foot, a level only a handful of addresses in the city have ever commanded. The buyer has not been named. What makes the figure remarkable is that the tower is still under construction, so a nine-figure sum was committed on the strength of a brand, a location and a set of drawings.

A building that keeps resetting its own ceiling

Aman Residences Dubai is the hotel group's first residential address in the emirate, developed by H&H Development on a nine-acre beachfront plot in Jumeirah 2 with open views over the Gulf and the skyline. The project has form. Earlier this year a penthouse at the same address was reported sold for around AED 422 million, about 115 million US dollars, described at the time as the city's biggest apartment transaction of the half. Scarce beachfront land in an established district, a thin supply of genuinely ultra-prime stock and a hospitality brand with a loyal following are doing exactly what branded-residence economics promise.

The top end grows while the wider market cools

• Sales above AED 36.7 million, roughly the 10 million dollar line, reached 269 deals worth AED 16.57 billion in the first half of 2026, up 11.2 percent by count and 11.5 percent by value on a year earlier.
• Luxury sales in 2025 totalled 6,668 transactions worth about AED 143.8 billion, against 4,735 deals worth AED 99.3 billion in 2024, growth of 41 percent in volume and 45 percent in value.

Those numbers matter because they run against the broader backdrop. Overall transaction growth has eased in 2026 and new launches have thinned, yet the ultra-prime segment keeps compounding. Wealthy buyers are not trading on seasonality or short-term sentiment. They are buying a fixed quantity of coastline that Dubai is not making more of.

What it signals for buyers and agents

The lesson is less about one spectacular cheque and more about where pricing power now sits. Branded, beachfront, finished-to-order product is behaving like its own asset class. Buyers hunting for value further down the ladder can compare how individual towers and districts are actually priced across Dubai's off-plan projects, where launch pricing, payment plans and handover dates increasingly separate the projects that hold value from the ones that merely sell fast.