Dubai luxury homes: Super-rich Saudis, Indians lead in buying multi-million dollar properties

Dubai: Wealthy Saudi nationals and Indians are among the biggest investors in Dubai’s luxury property market, with the city still shining bright as a destination for individuals with personal wealth of $20 million and more.

This is the buyer base that’s been behind the sustained rise in demand for super-luxury homes in Dubai – and this seems like a trend that’s going to run for quite a bit longer. The steel tycoon Lakshmi Mittal was the latest super-rich to buy a home in Dubai, at Emirates Hills for $100 million.

In fact, a substantial 71% of global high networth individuals name-checked Dubai as ‘their preferred emirate in the UAE for a real estate acquisition’. This preference is highest among the Saudi rich (80%), followed by British (74%), Indian (69%) and East Asian (61%) HNWIs.

“Indeed, during 2024, Saudi, Indian and British nationals accounted for just over 50% of homes sold by Knight Frank in Dubai,” said Will McKintosh​​​​, Regional Partner – Head of Residential, MENA at Knight Frank.  

From Bollywood and Hollywood celebrities to global business chiefs, the sentiment remains the same. Dubai is the place to be buying homes.

“The super-rich remain laser-focused on purchasing luxury homes in the city,” said Shehzad Jamal, Partner – Strategy & Consultancy, MENA at Knight Frank.  “This unrelenting demand has been a critical driver of Dubai being the world’s busiest $10 million+ homes market for the second year running.”

Last year, Dubai had 435 home sales of $10 million and plus and ‘almost equaling the number of such sales in London and New York combined’. And in 2025, the trend kept going on with a further 111 homes sold for over $10 million during Q1. This is the highest number for any January to March period.

Dubai property market's 'poster-child'

When it comes to individual locations, Dubai Marina ranks at the top of preferred choices for the wealthy. (Could it be that many of these purchases are to yacht owners too?)

This is despite new competition emerging from Palm Jebel Ali and Dubai Islands, and even the new top-draw towers from the likes of Azizi, the Trump one, Sobha Central and Binghatti.

According to Knight Frank, Dubai Marina was 'once again' the top target neighbourhood for a residential acquisition among HNWIs (with 28%), with Dubai Hills Estate (24%) and Emirates Hills (23%) in second and third place, respectively. (Incidentally, it was at Emirates Hills that Lakshmi Mittal bought recently.)  

Jamal said: “For our wealthiest HNWI respondents (net worth of over $50 million), Dubai Marina (43%) commands the highest interest, demonstrating the enduring appeal of the long-standing poster-child of Dubai’s property market.

"For this group of super-rich buyers, Dubai Hills Estate (30%) follows in second place, while Emirates Hills (22%) rounds off the top three likely home purchase locations.”