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About Developer

DAMAC

Projects

169+

Founded In

2002 y.

Price From

400,000 AED

Latest Projects By DAMAC

Starting Price: 18.1 Million AED
Location: Damac Hills

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Damac Properties

DAMAC Properties, a renowned real estate developer, has been a driving force in shaping Dubai’s skyline for over two decades. Since its establishment in 2002, the company has played a pivotal role in transforming Dubai into a bustling hub for international trade, hospitality, and lifestyle.

Leadership and Vision

The dynamism and vision of DAMAC Properties’ founder, Hussain Sajwani, have been instrumental to their success. Although he served as Chairman until June 2021, his decision to transfer control of the business to Maple Invest Co Ltd signifies his dedication to its growth. Maple, a company owned by Mr. Sajwani and registered in the British Virgin Islands, will fully acquire DAMAC Properties’ ordinary share capital, underscoring his unwavering commitment to the company’s expansion.

Damac Localities in Dubai

Damac Hills

Damac Hills 2

Damac Lagoons

Business Bay

Dubai Maritime City

Dubai Marina

A Global Presence

Thanks to its strong portfolio, DAMAC Properties has extended its reach beyond Dubai and has a global presence in countries such as the UAE, Jordan, Saudi Arabia, Qatar, Turkey, Lebanon, and the UK. As of June 30, 2021, the company has successfully completed over 35,000 projects and has 30,000 ongoing projects. DAMAC Properties’ unwavering commitment to excellence and innovation has propelled it to the forefront of the real estate industry, both in Dubai and globally.

Commitment to Philanthropy

DAMAC Properties is an organization dedicated to positively impacting the community. They strongly support the philanthropic efforts of His Highness Sheikh Khalifa bin Zayed Al Nahyan and actively participate in charitable work. During challenging times such as the COVID-19 pandemic, the Hussain Sajwani-DAMAC Foundation generously donated AED 1,000,000 to provide food for those affected in the UAE, exemplifying their commitment to social responsibility.

Global Partnerships and Recognition

DAMAC Properties has also established strategic partnerships with renowned brands such as Versace Home, Roberto Cavalli, Paramount Hotels & Resorts, Fendi Casa, Rotana, Trump Organization, and Radisson. Damac Properties real estate developments have many collaborations, but they have kept the quality of their developments high and raised their profile on an international level.

Awards and Accolades

DAMAC Properties, a leading real estate developer in Dubai, has received numerous awards and accolades for its exceptional projects. Among them is the DAMAC Properties Dubai Hills golf community, which has been recognized as “The Best Golf Development in the World.” Moreover, the Trump Golf Club at DAMAC Hills won the “Travelers’ Award Choice” in September 2021, cementing Dubai’s status as a top tourist destination and an attractive hub for international investors.

Future Prospects

DAMAC Properties continues to shape the future with ongoing projects such as DAMAC Hills 2, Reva Residences, Aykon City Tower, and Paramount Tower Hotel Projects & Residences. With high rates of off-plan real estate sales, these projects serve as a reassuring sign of investor confidence and provide attractive payment plans.

Investment Opportunities

Investing in DAMAC Properties projects is a proven and dependable venture, offering a return on net profit ranging from 6% to 12%. This success is thanks to a sound economic strategy, significant company assets, and collaborations with renowned brands.

  • DAMAC Hills 2
  • Reva Residences
  • Aykon City Tower
  • Paramount Tower Hotel Projects & Residences

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DAMAC Properties Projects: Greenwoods Townhouses and Cavalli Tower

DAMAC Hills is the site of one of the most recent construction projects, Greenwoods Townhouses, which is set to be a neighborhood of around 48 three- and four-bedroom villas. The construction began in May 2021, and the owner of these facilities will enjoy a variety of rights associated with freehold ownership. One of the standout features of the villas will be their “star” facades that come complete with integrated sparkling LEDs. The starting price for these homes will be AED 1,700,000 (USD 463,000), making them an excellent investment opportunity for those looking to make Dubai their home.

Dubai Marina is home to the prestigious Cavalli Tower, a residential development that is the result of a joint venture between DAMAC Properties and the world-renowned fashion label Roberto Cavalli. The tower is an impressive 70 stories high and offers one- to four-bedroom apartments and a few penthouses that begin on the fifth floor. The tower is also home to a select few “flying villas” that come complete with swimming pools, roomy terraces, and relaxation areas. The upper floors of the Cavalli Tower will offer the ultimate luxury living, and each apartment will come with a vertical hydroponics wall where garden plants can be grown.

Residents of Cavalli Tower will enjoy a wide range of amenities, including access to an a la carte service with a menu of 7 branded restaurants, infinity pools, a state-of-the-art gym, and an exclusive SPA center. The tower is the only skyscraper ever constructed under the Cavalli name in the world, adding to its prestige. Additionally, the complex boasts a closed Malibu Bay lagoon that provides residents with a space for relaxation, making it the ultimate in luxury living. The cost of luxury real estate in Cavalli Tower is roughly AED 2,300 (USD 626) per square foot, making it a smart investment for those who appreciate the finer things in life.

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FAQ

Most frequent questions and answers

The UAE’s real estate sector contributes around 5.5% of the GDP of the country, and it has been on the rise since 2022 as both rental rates and home prices have increased. Dubai’s transaction volume reached its highest level for the first quarter ever observed in the area in the first quarter of 2022.

In Dubai, investors can choose between villas, apartments, townhouses, penthouses, duplexes, and plots and lands.

In Dubai, there are specific zones where foreigners can purchase real estate. These locations, such as the Palm Jumeirah, Downtown Dubai, Dubai Marina, Arabian Ranches, and Jumeirah Beach Residence, are decided upon by the Ruler of the Emirate of Dubai.

Real estate purchases in Dubai may result in the buyer receiving a residence permit. The property must be finished at the time of purchase and worth at least AED 1 million to qualify for the UAE investor visa program. Dependents may also be sponsored by real estate purchase residence visa holders.

The real estate industry in the UAE is anticipated to increase by 2.97% between 2023 and 2028, reaching a market volume of US$0.80 trillion by that year. The important characteristic that makes the UAE a desirable location for real estate investment is what is driving this expansion.

Here are some tips to invest in UAE real estate:

  • Know About Different Property Types and Their Worth
  • Research the Market Status and Risks
  • Property Investment in Dubai
  • Don’t Sacrifice Location
  • Choose Areas with High Rents and Demand
  • Spend Time in the Area
  • Luxury Property Buyers Should Have Financial Resources
  • Investing in Residential Properties Offers Shortcuts for Legal Residency
  • Seek Expert Advice When Investing in Dubai Real Estate

Yes, foreigners are permitted to purchase real estate in the UAE. There are, however, certain geographical limitations. Citizens of the UAE or the Gulf Cooperation Council (GCC) may buy real estate anywhere in Dubai.

There is no taxation on owning properties in Dubai.

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