Within hours…10 billion dirhams in sales by Damac Properties with the launch of Damac Islands

Damac Properties’ sales exceeded approximately 10 billion dirhams, with more than 3,100 residential units sold within hours of the launch of the “Damac Islands” project, reflecting the continued strong demand for living in residential communities in Dubai.

This past November witnessed the launch of the “Damac Islands” project with the participation of a number of international celebrities and influencers, including Bollywood star Amitabh Bachchan, stars Ranveer Singh and Sara Ali Khan, world boxing champion Amir Khan, former English football star John Terry, and Lebanese actress Nadine Njeim. And other celebrities.

In turn, Hussain Sajwani, Founder and Chairman of Damac Properties, said that the sales volume reflects the great confidence in the Dubai market and in his company’s projects, stressing the commitment to continue providing exceptional projects that meet customers’ needs.

The “DAMAC Islands” project is located in Dubailand, and is the sixth major residential community within the Damac Properties portfolio. The project’s design was inspired by the most famous tourist destinations and islands around the world, and includes six residential complexes: Maldives, Bora Bora, Seychelles, Hawaii, Bali, and Fiji.

During 2023, Damac added three new master communities to its portfolio to meet the growing demand for residential community living in the Emirate of Dubai. With a total area of ​​​​the main communities approaching 250 million square feet, the company combines its experience spanning more than twenty years in providing distinctive living experiences that suit different categories of customers.

Looking ahead to 2025, the market is expected to continue its upward trajectory, driven by infrastructure development and a focus on sustainability. The UAE’s economy is expected to grow by 5.0%, which will enhance the growth of its real estate markets.

Dubai’s real estate market showed resilience and growth during 2024, with a noticeable increase in luxury real estate deals. The total value of real estate transactions in the first half of 2024 exceeded 230 billion dirhams, an increase of more than 25% compared to the same period in 2023.