Armani Beach Residences at Palm Jumeirah rear view
Dubai: Former UFC heavyweight champion and professional boxer Francis Ngannou has purchased a five-bedroom residence at Armani Beach Residences on Palm Jumeirah in one of the latest high-value property deals in Dubai’s luxury market.
Developer Arada confirmed that the property was sold for Dh92.5 million, highlighting sustained demand for branded waterfront homes in the emirate. The residence spans 11,521 square feet and includes a private pool within the ultra-luxury beachfront development.
The transaction reflects the continued appeal of Dubai’s prime residential locations among global athletes, entrepreneurs and high-net-worth investors seeking trophy properties in the city.
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Demand for branded luxury homes
Armani Beach Residences at Palm Jumeirah forms part of a limited collection of 57 individually designed homes within the project, which Japanese Pritzker Prize-winning architect Tadao Ando has designed in partnership with the Armani Group and Casa Interior Design Studio.
Ahmed Alkhoshaibi, Group CEO of Arada, said the transaction reflects strong global confidence in Dubai’s high-end residential market.
“This transaction speaks to the depth of conviction that global buyers have in Dubai's property market and specifically in what Armani Beach Residences at Palm Jumeirah represents,” he said.
“There is no comparable project anywhere in the world. Tadao Ando's architectural vision, Armani's design legacy, and Palm Jumeirah's unmatched position combine to create something that serious buyers recognise immediately.”
Alkhoshaibi added that work on the project continues to move forward on schedule.
“Construction is progressing well and we remain on track for our 2027 completion.”
Global buyers drawn to Dubai
Ngannou said his decision to purchase the property was influenced by Dubai’s reputation as a global hub for opportunity and investment.
“When I visited the project and understood the vision behind Armani Beach Residences at Palm Jumeirah, I immediately saw how special it is,” he said.
“Dubai continues to attract people from all over the world because it combines ambition, stability and opportunity. Investing here felt like the right decision, and I believe strongly in the city’s future.”
The buyer was represented by Majida Housni, chief executive of luxury concierge platform The Ledger Concierge, who acted as the real estate advisor through eXp Realty. Her international client network includes entrepreneurs, athletes, and high-net-worth individuals seeking exclusive homes in major global cities.
Palm Jumeirah remains a prime market
Luxury developments on Palm Jumeirah continue to attract record transactions, driven by the limited supply of beachfront land and strong demand from international buyers relocating capital to Dubai.
Armani Beach Residences offers panoramic views of the Arabian Gulf and the Dubai skyline, alongside 90,000 square feet of amenities designed to cater to residents seeking privacy, design, and waterfront living.
Nivetha Dayanand is Assistant Business Editor at Gulf News, covering aviation, financial markets and commodities. A business and financial journalist with a strong interest in multimedia storytelling, she regularly takes complex financial and economic subjects beyond the written word, producing explainer videos that make them easier for a wider audience to understand. Nivetha has interviewed senior policymakers, business leaders and global financial figures both on and off camera. Her past guests include UAE Minister of Economy and Tourism Abdulla bin Touq Al Marri, Khaled bin Alwaleed Al Saud, a member of the House of Saud and the founder and CEO of KBW Ventures, Jihad Azour, Director of the Middle East and Central Asia Department at the International Monetary Fund and Indian ministers Hardeep Singh Puri and N. Chandrababu Naidu. She has also hosted and moderated panels, conferences and awards shows, bringing her newsroom experience to live conversations on business, finance and the economy. An Erasmus Mundus journalism alum, Nivetha is drawn to stories that affect people directly and to reporting that gives a platform to voices that might otherwise go unheard. She was among the first journalists to speak to Petrofac employees in the UAE about unpaid salaries, broke the news of the planned demolition of Dubai’s well-known “Toyota Building”, and helped set the record straight on widely circulated claims that a giant replica of the Moon was coming to Dubai. More recently, her exclusive interview with EDGE Group CEO Hamad Al Marar revealed how the UAE-based defence group deployed its systems along the country’s shore border and established a geofence around the UAE within 48 hours of the February 28 escalation. Prior to joining Gulf News, Nivetha worked at ITP Media, where she helped launch Finance Middle East, a new publication covering the region’s financial sector. Her role spanned reporting and editing, video production, interviews and events. Across print, digital, and video, she focuses on finding the people behind business stories and explaining why those stories matter to the audience reading or watching them.
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