10-02-2025
UAE real estate: Palace Group celebrates anniversary as portfolio valued at $10bn
UAE real estate developer Palace Group is celebrating its 25th anniversary, revealing a AED36bn ($9.8bn) portfolio spanning more than 200 super-prime projects across the country.
Founded in 1999 by Wissam Damaa, Palace Group has played a defining role in shaping the UAE's luxury real estate sector, delivering some of the most exclusive properties across Abu Dhabi, Dubai, Sharjah, and Ras Al Khaimah.
With AED20bn ($5.4bn) in completed projects and AED16bn ($4.4bn) currently under development, the company continues to raise the bar for ultra-luxury living.
Palace Group real estate in the UAE
Over the past 25 years, Palace Group has established itself as a market leader in ultra-luxury residential developments, from bespoke waterfront mansions to high-rise landmarks.
Notable projects include:
15 iconic beachfront mansions in communities like La Mer and Jumeirah Bay Island
Aya, featuring 70 luxury residences in Dubai Gardens
The Cliffs, a wellness-focused development along the Dubai Canal
A landmark multi-billion-dirham project launching in early 2025
Wissam Damaa, Founder and CEO of Palace Group, said: 'Our 25th anniversary is more than a milestone it reflects our commitment to redefining luxury real estate. Our robust portfolio is a testament to our enduring achievements and ongoing commitment to elevating standards in luxury real estate.'
Since 2016, Palace Group has integrated renewable energy solutions, hydrogen technology, and water desalination into its developments, aligning with the UAE's Vision 2031.
