Damac’s Record-Breaking Sales
Damac Properties announced a massive achievement on Thursday, selling properties worth over Dh10 billion in under 10 hours. This marks a strong finish to 2024 for Dubai’s largest private developer and boosts investor confidence for 2025.
3,100 Units Sold in Damac Islands Project
The developer sold 3,100 units in its latest project, Damac Islands, which launched last month. Located in Dubailand, Damac Islands is the company’s sixth master development, featuring six clusters inspired by exotic destinations: Maldives, Bora Bora, Seychelles, Hawaii, Bali, and Fiji.
Market Confidence in Dubai Real Estate
“This remarkable sales milestone highlights the market's trust in Dubai,” said Hussain Sajwani, founder and chairman of Damac Properties. “We are dedicated to delivering outstanding projects that align with our clients’ changing needs.”
High Demand for Dubai Properties
Dubai’s real estate market continues to experience exceptional demand, especially among high-net-worth individuals and end-users. Major developers like Damac are selling units within hours, while smaller developers sell out in days or weeks. This reflects strong confidence in Dubai as a global real estate hub.
Affordable Luxury Compared to Global Cities
Despite the soaring demand, Dubai’s residential property prices remain more affordable than those in cities like London, New York, and Hong Kong.
Bright Future for 2025
Looking ahead, the Dubai property market is expected to grow further in 2025, supported by infrastructure advancements and a greater emphasis on sustainability.
A Resilient and Growing Market in 2024
2024 has been a landmark year for Dubai’s real estate sector, with a significant rise in luxury property transactions, demonstrating the market’s resilience and robust growth.
