Damac Properties Achieves Record Sales of Over Dh10 Billion in Just 10 Hours
Damac Properties has closed 2024 on a remarkable high note by achieving over Dh10 billion in property sales within less than 10 hours. This milestone reinforces Damac’s position as Dubai’s leading private developer while signaling robust investor confidence for the year ahead.
The record-breaking sales included 3,100 units from the newly launched Damac Islands, located in Dubailand. This ambitious project, which debuted last month, marks the developer’s sixth master-planned community. Damac Islands boasts six unique clusters named after exotic destinations – Maldives, Bora Bora, Seychelles, Hawaii, Bali, and Fiji – offering luxurious and serene living environments.
“This extraordinary achievement is a testament to the confidence that the market places in Dubai’s real estate sector. At Damac, we remain dedicated to creating exceptional projects that align with the evolving preferences of our clients,” said Hussain Sajwani, founder and chairman of Damac Properties.
The overwhelming demand for properties, particularly from high-net-worth individuals and end-users, highlights the trust and optimism investors have in Dubai’s thriving real estate market. While major developers have witnessed properties being sold in mere hours, smaller and emerging players have successfully sold units within days or weeks, underscoring the market’s vibrancy and resilience.
Dubai: An Affordable Luxury Hub
Despite the global allure of Dubai, the emirate’s residential property prices remain competitive compared to international cities like London, New York, and Hong Kong. This affordability, coupled with unmatched lifestyle amenities, continues to attract investors and residents alike.
Looking Ahead: A Bright Future for Dubai’s Real Estate
As 2025 approaches, Dubai’s real estate market shows no signs of slowing down. The upward trend is expected to persist, driven by ongoing infrastructure developments and a strong emphasis on sustainability. This year, the sector has already demonstrated its resilience with a significant increase in luxury property transactions, cementing Dubai’s reputation as a global real estate powerhouse.
