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Dubai's ultra-luxury real estate market is witnessing a fresh approach with fam Properties' AED3 billion Nordic by fam portfolio, which introduces a build-first strategy rather than relying on off-plan sales. The concept, centred on Scandinavian minimalism, craftsmanship, and understated design, aims to set a new benchmark in Dubai's high-end housing landscape. With the first two villas already sold and several more under development across Al Wasl and Meydan, the initiative reflects a shift towards simplicity and tangible value in a market that has seen over AED140 billion worth of ultra-luxury launches in five years.
Dubai's ultra-luxury property sector is seeing a transformation driven by the AED3 billion Nordic by fam collection, currently being developed in two of the city's most prestigious districts. Unlike the conventional model of selling off-plan properties, the developer completes each mansion and villa before introducing it to the market, highlighting simplicity over extravagance. Advertisement
According to DXBinteract data, Dubai's ultra-luxury launches have surpassed AED140 billion in the past five years, while sales of villas priced above AED40 million rose from 27 in 2020 to 242 in 2024, marking a near 1,700% increase in transaction value-from AED0.89 billion to AED15.98 billion.
With two Nordic by fam properties already sold and another newly launched, 22 more are under construction, including a 35,000 sq ft flagship mansion expected to list for AED275 million upon its completion in late 2026. The build-first approach is being viewed as a departure from the city's reliance on pre-sales in the ultra-luxury segment.
Firas Al Msaddi, CEO of fam Properties, explained that the project was conceived to challenge the overcrowded luxury market by reversing the traditional process-building first and then showcasing. He stated that the goal was to create a new architectural identity for Dubai, defined by Scandinavian restraint, craftsmanship, and intelligent design rather than ostentatious decor.
Within weeks of completion last year, the first two villas in the Al Wasl District Collection fetched AED61.5 million and AED76 million respectively. The third villa, a fully furnished six-bedroom freehold property priced around AED98 million, has just been introduced in the same elite enclave close to the Burj Khalifa. Spanning 21,000 sq ft, it features a professional-grade cinema, private spa with jacuzzi, steam and massage rooms, gym, and spacious indoor-outdoor living zones within a minimalistic aesthetic.
The remaining 21 mansions, located across Al Wasl and Meydan, follow the same architectural ethos, ranging between 10,000 sq ft and 25,000 sq ft. Al Msaddi mentioned that each residence is uniquely designed and built, without any repetition, drawing on his team's 18 years of experience in Dubai's premium property segment. He added that ultra-modern minimalism represents the future of luxury-prioritising calm, natural materials and enduring craftsmanship over ornate finishes, ensuring timeless appeal and comfort.
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