Realiste, the UAE's leading artificial intelligence company, has released a report identifying the ten most expensive locations in Dubai. According to the study, Jumeirah Bay took the top spot with an average flat price of AED 20 million. The ranking was determined by one of Realiste's flagship products, the Index.

The list of most expensive areas also includes Al Safouh Part 2 (15.8M AED), Al Safouh Part 2 Part 1 (15.8M AED), Al Safouh Part 1 Part 2 (15. 8M AED), Umm Suqeim Part 2 Part 1 (9M AED), Arabian Ranches (6.6 million AED), Bluewaters Island (6.6 million AED), Zaabeel Part 1 Part 2 (5.6 million AED), Al Yufrah 1 (5.1 million AED), Wadi Al Safa Part 3 Part 2 (5 million AED). The Palm Jumeirah, despite being considered one of the most expensive places in Dubai, did not make it into the top ten, only taking 12th place.

Most of these areas are located near the waterfront, green areas or major tourist attractions. These are the factors that are driving demand and prices for property in Dubai." Alex Galtsev, founder and chief executive of Realiste, explained. He adds that some of these areas are also set to see considerable price growth over the next two years. For example, according to the 'Index', property costs in Arabian Ranches will increase by 12.9 per cent by the end of 2024.

However, some locations in Dubai will see even greater price growth over the next few years. For example, according to Realiste's 'index', Sobha Hartland will grow by 15.6% in one year. That is one of the most rapidly growing areas in Dubai, the Realiste team explained. By 2024, the area will see several new residential complexes, such as Kensington Waters and Wilton Park Residences.