Naïa Island deal faces land-record scrutiny

Dubai’s latest trophy land sale has come under scrutiny after public property records indicated that the Dh560 million beachfront acquisition announced by Dubai Sotheby’s International Realty may have been assembled through four separate land transactions rather than recorded as a single deal.

The brokerage said this month that it had completed the UAE’s largest land acquisition, involving a European buyer and a beachfront estate of more than 80,000 square feet on Naïa Island, the private coastal development being built off Jumeirah. The announcement placed the transaction at the top end of Dubai’s ultra-prime market and reinforced the city’s appeal to buyers seeking scarce waterfront land.

A review of Dubai Land Department records points to four sales registered in Umm Suqeim First on June 5 with a combined value of Dh568.02 million and a total area of 9,098.5 square metres, equal to about 97,936 square feet. Naïa Island sits within the wider district. The aggregate value and area resemble the figures disclosed for the Sotheby’s transaction, though no public record reviewed identifies the four plots as belonging to the same buyer or confirms that they form one consolidated estate.

The distinction is material. If the June 5 entries are connected, the acquisition would still rank among Dubai’s largest private residential land positions this year, but its structure would look more like a plot assembly than a single plot transfer. If they are unrelated, the absence of a one-line Dh560 million land transaction leaves the announced deal dependent on brokerage disclosure and confidentiality protections common in super-prime sales.

Sotheby’s has not publicly confirmed whether the acquisition involved four plots. The firm has said discretion is standard in transactions involving the wealthiest buyers and that details of super-prime acquisitions are generally not disclosed. Such secrecy is common where buyers use private structures and off-market channels to protect identity.

Naïa Island has become a test case for Dubai’s next phase of luxury property demand. Launched by Shamal Holding in August 2025, the project is planned as a private island estate anchored by the region’s first Cheval Blanc Maison, with a limited number of beachfront residences, estate plots, private villas and hospitality suites. Its location off the Jumeirah coastline, low-rise masterplan and limited inventory have helped it draw buyers focused less on rental yield than on control of rare coastal land.

The June announcement followed another major Naïa Island sale. A beachfront plot of about 53,000 square feet was sold for Dh377 million in April, setting a benchmark for private residential land values before the larger transaction was disclosed. Public records reviewed for that sale show a Dh377 million land transaction in Umm Suqeim First on April 23 covering roughly 52,900 square feet.

A further Naïa Island transaction worth about Dh167 million was announced this month involving a Middle Eastern buyer. Public data shows a June 11 land sale in Umm Suqeim First valued at Dh167.36 million and covering about 23,908 square feet. Together, the three high-value deals have placed Naïa Island at the centre of Dubai’s beachfront land market, with more than Dh1 billion in announced sales.

The activity comes despite a more selective wider market. Dubai’s residential sector began 2026 with strong volumes, with about 44,200 residential sales worth Dh139.1 billion in the first quarter, but analysts have pointed to softer momentum in some segments as new supply rises and regional risk weighs on sentiment. Luxury waterfront assets have behaved differently because supply is limited and buyers at this level are usually less dependent on mortgage conditions.

Dubai’s ultra-prime market had already entered 2026 from a record base. Homes priced above $10 million reached 500 sales in 2025, including 68 transactions above $25 million, underlining the depth of global wealth moving into the city. The Naïa Island transactions suggest that the upper edge of the market is shifting beyond penthouses and branded villas towards land banking by families seeking private estates.