Even as Dubai’s property prices soar, developers are betting that luxury isn’t a bubble — it’s the brand. Emaar, which built the world’s tallest tower, the Burj Khalifa, is planning a $27 billion luxury residential development. The plan is for 40,000 “Dubai Mansions,” which are sprawling 10,000- to 20,000-square-foot homes for those who, in founder Mohamed Alabbar’s words, “understand value beyond price.”
The city’s love affair with opulence extends offshore too, with the world’s first Buddha Bar hotel rising on The World Islands, complete with floating villas and a beach club. It’s slated to open in 2027. Prices haven’t been announced, but expect them to be steep.