DAMAC Islands Launches with a Bang! 3,000 Villas Sold in 8 Hours, Dubai's Real Estate Market Booms

DAMAC is one of the largest publicly listed developers based in Dubai, founded in 1982, with a history of more than 40 years. Its operations extend across the UAE, Saudi Arabia, Qatar, Jordan, Lebanon, Oman, and the UK, covering sectors such as real estate, property management, hotels, retail, fashion, logistics, data centers, and equity investment.

DAMAC collaborates with globally renowned brands, including partnerships with former US President Trump to develop a golf club, and collaborations with Paramount Hotels, Vodafone, and luxury brands such as Versace and Fendi. Furthermore, the progress of DAMAC's projects is regularly updated on its official website, making it a reliable choice for overseas investors.

Following the explosive success of DAMAC Lagoon, the first phase sold out 900 units on the opening day, making even standard locations hard to come by. Over the past three years, prices have surged significantly, with 3-bedroom townhouses to 6-bedroom stand-alone homes seeing increases of up to 144%, and an average increase of 50%, with prices continuing to rise. It's no wonder that wealthy buyers are eagerly pursuing these properties.

DAMAC has launched its second large-scale Crystal Lagoon project, DAMAC Islands, to meet the massive demand from investors for high-end villas in Dubai. Villas with scenic water views typically appreciate more than regular villas, and standalone villas appreciate more than townhouses; moreover, the launch of large communities often offers the lowest property prices, making it the most advantageous time to buy. Within 8 hours of opening on December 10, a total of 10 billion dirhams were sold, with over 3,000 villas sold in total.

DAMAC Islands is inspired by the world’s best tropical island resorts and spans 30 million square feet, featuring an expansive waterfront high-end villa community. It is located in the core villa development area of Dubai Land, surrounded by several upscale villa neighborhoods such as The Acres, Athlon, and Arabian Ranches 3.

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• "Intersection of Route 63 and 611
• Reach multiple international schools within 20 minutes
• Sports City – 15 minutes by car
• Dubai Investment Park – 20 minutes by car
• 2020 World Expo venue – 22 minutes by car
• Al Maktoum International Airport – 23 minutes by car
• Dubai International Airport – 28 minutes by car
• Metro line to open in 2030"
  

• Water Dome Park
• - Iguanas Park
• - Fruit Market
• - Jungle River
• - Hot Springs SPA
• - Kayaking and Paddleboarding
• - Water Dome and Park
• - Zip Line
• - Wildlife Zoo and Fresh Market
• - Floating Water Deck
• - Outdoor Fitness and Street Workout Facilities
  

Against the backdrop of a general global economic downturn, Dubai's residential real estate market continues to demonstrate strong growth, with a year-on-year growth rate reaching as high as 28.5% by the first half of 2024. At the same time, Dubai has become the country that attracts the most high-net-worth individuals, with the number of millionaires increasing by 78% over the past decade, making Dubai one of the cities with the highest population of wealthy individuals in the world.

Besides the "Golden Visa," the UAE's "tax-free policy" is also a significant advantage that attracts global investors. There is no personal income tax on earnings from salaries, bonuses, dividends, investments, or rent. There is also no capital gains tax, no inheritance tax, no stamp duty, and no property tax. Even when establishing a company, one can enjoy tax exemption or extremely low tax policies, which acts like a magnet for wealthy individuals and entrepreneurs from around the world.



Dubai's property price-to-rent ratio stands at 9.39, indicating that investors can expect a stable rental return rate of about 8-10%. As a result, more and more investors are setting their sights on Dubai, leading to a continuous surge in both the volume and value of real estate transactions. In the first eight months of 2024, the volume of real estate transactions approached 100,000, surpassing the total transaction record for 2023 and continuing to rise at an astonishing pace.

After the COVID-19 pandemic, property prices in Dubai skyrocketed from 760 AED per square foot to 1,391 AED per square foot, an increase of 83%. Projects in prime locations saw a rush of buyers eager to pay deposits during pre-sales, with around 50% sold before the official opening. When the official launch occurs, the scene is usually packed, with everything sold out within a few hours.

Among them, Dubai's high-end villas have gradually become the preferred choice for real estate investors. Data shows that in September 2024, the transaction amount for Dubai villas reached 12.2 billion dirhams, with a transaction volume of 2,935 units, an increase of 29.2% compared to the same period last year. It is evident that in Dubai's real estate market, which primarily targets global billionaires and high-net-worth individuals, high-end villa products are rightfully leading the market, excelling in both living experience and investment returns.