DAMAC Properties

Biggest pool of developers in Dubai

About

DAMAC Properties, a prominent luxury property developer in Dubai, is a subsidiary of the prestigious DAMAC Group. With a rich history dating back to 1982, DAMAC Properties has played a significant role in shaping the luxury real estate market in the Middle East. The company is renowned for delivering iconic residential, commercial, and leisure properties for sale throughout the region and beyond.

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About company

In 2002, an epoch-making event occurred. The Dubai government has opened the local real estate market to investors. From this moment on, foreigners could buy real estate on a freehold basis. At the same time, DAMAC Dubai was founded. Its main goals were to make the country an important trade and financial center and to share the values of the Emirates and their way of life with citizens of other countries. The founder of the company was Hussein Sajwani.

The company has been developing successfully all these years. In 2013, it reached a new level - from this moment on, its shares can be bought on the stock exchange in London. This became an indicator of international recognition. DAMAC Properties Dubai is the first UAE developer to achieve such results. The company participates in an inter-industry association, the purpose of which is to increase the reputation and investment attractiveness of the countries in the region.

Currently, DAMAC is a developer known for its premium real estate projects and has become a holding company. The company pays a lot of attention to charity, helping the local branch of the Red Cross.

Investment attractiveness

DAMAC Dubai is a construction company that operates in several countries. It implements projects not only in the UAE, but also in other countries of the Middle East, including Jordan and Saudi Arabia, and is building various facilities in some European countries, for example, in Britain.

Damac is known for its high quality construction. Its most famous project was the Trump Golf Club, a world-class facility for which the company received several awards. This is not just a good 18-hole course, the club also has several restaurants, shopping facilities, a fitness club and a swimming pool. In 2021, this club received the Traveler's Choice award, which once again confirmed the quality of the developer's projects. The company designed another golf club and hotel for this chain.

Currently, the company has more than 20 projects in development. All of them will be located in prestigious areas. Company advantages:

• high quality of work;
• interesting architectural solutions;
• investment attractiveness of land located in prestigious areas - this leads to an increase in the value of real estate built here;
• aggressive project cost management strategy;
• high speed of construction work;
• low risks.
   

The developer DAMAC in Dubai uses a strategy of phased recovery of construction costs - this is achieved through the sale of real estate before completion of work and commissioning. Every year, statistics show high rates of off-plan sales. On the one hand, this speaks to the confidence of investors in DAMAC. But a more favorable payment plan compared to what will happen after the completion of construction also plays an important role here.

In the future, the apartments can be sold at a higher price, left for personal use or rented out. Depending on the location, area and other characteristics of the object, the investor will be able to receive 6-7% passive income (for some projects this figure is up to 12%). This is a good level that allows you to overcome inflation and get tangible benefits.

In this case, sales begin immediately after the first public presentation takes place. And since available properties sell out quickly, it’s better to hurry up and sign the contract. If an investor is interested in DAMAC projects that have not yet been implemented, he can look at a 3D model of the building or visit a copy of the apartment - they are presented in special showrooms.

The most famous projects

The company actively cooperates with investors from different countries. It is trusted not only in the Middle East. Among DAMAC Living's major projects is the large Aykon City complex, which is being built jointly with the Chinese company CSCEC. Also, together with the famous Italian brand Cavalli, the developer is implementing another ambitious project - the Cavalli Tower skyscraper, which will have 70 floors.

DAMAC Hills 2

This is a whole community, previously it was known under other names (in particular Akoya). In this area there is a famous golf club, the project of which brought the company international recognition. Real estate in this area includes villas, apartments and townhouses. The main feature of the project is its compliance with the highest environmental standards. It is considered the greenest community in the UAE.

Although most of the properties here belong to the premium segment, there are residential units with a relatively affordable price - from 300 thousand dollars. USA. At the same time, the investment pays off quite quickly. Statistics show a profitability of 6.5%. Although most of the properties here have already been put into operation, some can still be purchased at the construction stage with all the advantages that this method provides.

Greenwoods Townhouses

This project will be of interest to those who prefer low-rise construction. This is one of the most promising developer projects. Its implementation began in 2021. According to the plan, there should be villas and townhouses with several bedrooms. The advantages of the complex are the opportunity for foreign citizens to buy real estate on a freehold basis.

All properties here will be decorated in a modern style, and their facades will be decorated with LED lighting with star effects. The cost starts from 463 thousand dollars. USA.

Cavalli Tower

This project of an elite complex is worth considering in more detail. It is located in the prestigious Dubai Marina area, close to the sea coast. This is the second project for the developer, which is being implemented jointly with the Italian brand Roberto Cavalli. The object itself is a skyscraper 70 floors high. Moreover, apartments with one or more bedrooms are available from the 5th floor and above. The upper floors have spacious terraces, swimming pools, and equipped recreation areas. Infrastructure facilities will be located on the lower floors - gyms, spa salons, cafes and restaurants of the appropriate level.

The apartments, which meet all environmental standards, feature vertical gardening. This is a wall with hydroponics, where you can grow not only ornamental plants, but also garden crops. Another advantage of the complex is the presence of a closed lagoon. Like other projects of the developer, this is a real masterpiece of engineering art.