The Burj Khalifa, a towering icon of Dubai’s skyline, continues to dominate the city’s real estate market. Celebrating its 15th anniversary, the world’s tallest building has generated AED8.8 billion ($2.4 billion) in home sales, making it Dubai’s most valuable single building in terms of real estate transactions.
Record-Breaking Sales and Strong Demand
Since its launch, the Burj Khalifa has witnessed the sale of 1,862 units, with AED467.1 million ($127.2 million) generated in 2024 alone. Knight Frank’s data highlights a slight 5.7% dip in sales value compared to 2023, despite a significant 27% reduction in the number of units available for sale.
The average price per square foot in the Burj Khalifa reached AED3,000 ($817) in 2024, 78.5% higher than Dubai’s city-wide average of AED1,680 ($457). This underscores its enduring appeal among high-net-worth individuals.
Faisal Durrani, Partner and Head of Research for MENA at Knight Frank, remarked:
“The Burj Khalifa is more than a landmark; it is a symbol of Dubai’s ambition and success in creating a world-class city. The tower’s contribution to Dubai’s luxury real estate sector mirrors the city’s extraordinary growth.”
High-Value Transactions and Global Appeal
Knight Frank’s analysis reveals that 76% of the tower’s residences are valued at over $1 million, solidifying its position in the ultra-luxury market. In 2024, 18 branded residences were sold, with the most expensive—a five-bedroom unit—fetching AED44 million ($12 million).
Additionally, a dual-story Kempinski-branded penthouse with a Burj Khalifa view became Downtown Dubai’s most expensive sale in 2024, selling for AED80 million ($21.8 million).
Petri Mannila, Partner and Head of Prime Residential at Knight Frank, emphasized the tower’s allure for global elites:
“Dubai’s ability to attract and retain global elites is a clear reflection of its status as a world-class destination, with iconic developments like the Burj Khalifa serving as powerful symbols of the city’s appeal.”
A Premier Address in Dubai
Since its inauguration in 2010, the Burj Khalifa has accounted for 6.2% of Downtown Dubai’s total residential sales, valued at AED144.2 billion ($39.3 billion). The tower’s unmatched luxury and prime location continue to draw affluent buyers, making it a premier address for high-net-worth individuals worldwide.