Ultra-Luxury AED3 Billion Collection Offers New Approach To Dubai Real Estate

Dubai's luxury real estate market is undergoing a transformation with the introduction of a AED3 billion property portfolio. These developments are situated in two of the city's prime areas. Unlike traditional methods, these properties are completed before being marketed, focusing on simplicity over extravagance.

Data from DXBinteract reveals that over AED 140 billion worth of-luxury homes been launched in over the past years. This shift strategy comes as sales of villas priced at AED40 million and above have surged from 27 in 2020 to 242 in 2024. The transaction value has also increased significantly, rising from AED0.89 billion to AED15.98 billion.

The Nordic by fäm development arm, launched by Firas Al Msaddi, CEO of fäm Properties, is pioneering this new approach. "The market is overcrowded with claims of luxury and ultra-luxury," said Al Msaddi. "We wanted to change that by doing the opposite to what normally happens - building first, showing next, and letting the homes speak for themselves."

The first two Nordic by fäm properties have already been sold, with another recently entering the market. An additional 22 properties are under development, including a flagship mansion of 35,000 sq ft set for completion in December 2026. This mansion is expected to list at AED275 million.

The aim is to establish a new architectural standard for Dubai defined by Scandinavian minimalism and quality craftsmanship rather than traditional opulence. "Ultra-modern minimalism is the future of luxury," Al Msaddi stated. "Getting away from loud marble and decorative clutter towards calm, natural materials that won't look dated over time."

The first two villas in the Al Wasl District Collection were sold within weeks of completion last year for AED61.5 million and AED76 million respectively. These villas are located in Dubai's closest freehold villa community to the Burj Khalifa.

The brand's third offering is a fully furnished freehold residence priced around AED98 million. It has just been released into the market within Dubai's most central freehold zone. Spanning 21,000 sq ft, this six-bedroom villa includes a professional-grade cinema, private spa with jacuzzi, steam and massage rooms, gym, and extensive indoor-outdoor living areas.

The other 21 mansions and villas under development in Al Wasl and Meydan areas range from 10,000 sq ft to 25,000 sq ft. They follow the same blueprint focusing on simplicity and uncluttered design.

"Each home is individually designed and built," says Al Msaddi. "There is no template or copies." He emphasises their expertise gained over 18 years in Dubai's ultra-luxury segment has led them to create something truly needed but not yet built.