Beachfront plot on Dubai's Naïa Island sold to European buyer for record AED560 mil

Naïa Island is an ultra-luxury private estate in off the Jumeirah coastline in Dubai by Shamal Holding (Picture: Shamal Holding website)

A beachfront residential land parcel spanning over 80,000 sq ft on Naïa Island, an ultra-luxury private estate in Dubai, has been sold for AED560 million ($197 million). The buyer is a European, according to Arabian Business, a Dubai-based weekly business magazine which broke the story on June 8.

The transaction ranks among the most expensive land deals recorded in the UAE, says Dubai Sotheby’s International Realty. It surpasses a previous record-setting transaction that also took place on Naïa Island — a 53,000 sq ft beachfront land parcel that fetched AED377 million in April.

Located off Dubai’s Jumeirah coastline, the private island is currently under development by Shamal Holding, a Dubai real estate and investments firm.

The 13ha low-density enclave will feature the Middle East’s first Cheval Blanc Maison — the hospitality offering by luxury goods conglomerate LVMH. Targeted to complete in 2029, Cheval Blanc Dubai will offer 30 suites and 40 private pool villas, along with a limited number of branded beachfront residences.

In addition, the island features vast beachfront land plots, designed for buyers seeking to custom-build expansive private residences. According to Dubai Sotherby's, at over 80,000 sq ft, the latest plot sold at Naïa Island far exceeds other available plots within Dubai's luxury waterfront market. For instance, at Jumeirah Bay Island, the largest plots measure around 37,000 sq ft.

Naïa Island was first unveiled by Shamal Holding in August 2024. Since then, the development has become sought after by global ultra-high-net-worth individuals, who are drawn to its large waterfront plots and exclusivity. In its June 8 article, Arabian Business added that all Naïa Island transactions are conducted off-market, ensuring the privacy of its buyers.

In a May 19 press release, Dubai Sotheby’s highlights that the development accounted for 24, or 40%, of all ultra-prime seaside residential deals in Dubai priced above AED150 million between January 2025 and March this year.