Emirates NBD provides AED 367 mn facility for Dubai ultra-prime property portfolio

UAE lenders are still banking on Dubai’s ultra-luxury market even as the broader real estate cycle cools. European real estate group CPI Property Group secured an AED 367.3 mn financing facility from Emirates NBD, backed by a portfolio of high-end residences in Dubai, according to a press release. The facility will help finance deferred payments tied to the developments through 2026 and 2027.

Inside the agreement: The portfolio includes 19 luxury homes, with 15 units still under development in projects, including Bvlgari The Lighthouse on Jumeirah Bay, Casa Canal and One Canal along the Dubai Water Canal, and Mr. C Residences Downtown. The company said it plans to gradually divest the properties after completion.

The timing says a lot about where the UAE property market is sitting right now. Broader residential growth has started cooling under the weight of geopolitical tensions — UAE real estate activity dropped 51% between the start of the war and mid-March — but prime and ultra-luxury assets are holding up far better than the wider market. Buyer demand for properties priced above AED 5 mn drove nearly a quarter of all Dubai market activity in 1Q.

REMEMBER- The UAE luxury residential market started the year on strong footing, with Mordor Intelligence estimating it will reach roughly USD 49.3 bn in 2026 and climb to more than USD 77 bn by 2031. As the near-term picture grows more complicated, with building material prices rising by up to 14% over the past few weeks, analysts see a cooling phase ahead — though not an outright correction.