AED1 billion Dubai development targets global elite with Scandinavian villas
The elite residences from Nordic by fäm Real Estate Development carry unique appeal to ultra-high-net-worth individuals (UHNWIs) as the nearest freehold villas to Downtown Dubai offering ownership to all nationalities.
Their location in the Al Wasl District puts residents within close proximity to iconic Dubai landmarks such as the Burj Khalifa, Dubai Mall, Jumeirah, Al Wasl Canal, Sheikh Zayed Road and DIFC.
Characterised by their Scandinavian-inspired designs, the ten Nordic by fäm villas and mansions introduce a fresh concept of minimalist luxury to Dubai’s property market.
“As Dubai’s real estate sector continues to attract worldwide attention, this exceptional collection of ultra-luxury homes offers an unparalleled blend of design and lifestyle in the heart of the city,” said Firas Al Msaddi, CEO of fäm Group.
“More than 6,700 millionaires relocated to Dubai in 2024 alone, and projections indicate an annual influx of 6,500 UHNWIs through 2026. This steady arrival of global wealth has bolstered the city’s position as a hub for luxury living and investment opportunities.”
Based on the influx of UNHWIS, the company’s luxury division, fäm Lux, has set a target of AED10 billion in sales transactions for next year.
The delivery and release of the ten new properties in Q2 2025 follows the initial launch of the Nordic by fäm development earlier this year, with the first two available villas being sold for
AED 61.5 million and AED70 million respectively.
The new high-end community in the Al Wasl District is non-gated, with a security team stationed on site 24/7.
Homeowners have significant flexibility to customize their villas and mansions within the guidelines set by the Dubai Development Authority, without requiring lengthy approvals or paying extra fees to the master developer, Dubai Holding’s Meraas.
“These new residences are thoughtfully crafted to appeal to buyers seeking ultra-minimal designs and settled elegance, clean lines, and modern functionality, addressing a growing demand for understated yet sophisticated living spaces,” said Al Msaddi.
“The market is witnessing unprecedented price levels. Recent off-plan projects along the Jumeirah coastline are selling at an average of AED 14,000 per sq ft, with villa plots priced at AED 3,000 to AED 8,000 per sq ft.
“Penthouses have reached record-breaking prices of AED 500 million. This segment is firmly established, as any UHNWIs choosing to exit can only sell to similarly wealthy buyers, preserving exclusivity and value.”
Last Updated on 4 hours by News Desk 1
