Dubai, UAE, 12 December 2024: DAMAC Properties has achieved over AED 10 billion in sales in less than 10 hours, selling more than 3,100 units from the newly launched DAMAC Islands development.
This significant milestone underscores the strong demand for community living in Dubai. The project was launched in November with a unique and aggressive marketing & PR campaign making it one of the biggest launches of the developer. The launch featured globally acclaimed celebrities and influencers including Bollywood megastar Amitabh Bachchan, Bollywood superstars Ranveer Singh, Sara Ali Khan, acclaimed two times boxing champion Amir Khan, English professional football coach John Terry, Lebanese actress Nadine Njeim amongst others.
Hussain Sajwani, Founder and Chairman of DAMAC Properties, commented: “This unprecedented sales achievement reflects the market’s confidence in Dubai, in our vision and the unique appeal of DAMAC Islands. We remain committed to delivering exceptional projects that meet the evolving needs of our clients.”
Located in Dubailand, DAMAC Islands is the sixth master development in DAMAC’s portfolio. Inspired by renowned island destinations, the project comprises six clusters – Maldives, Bora Bora, Seychelles, Hawaii, Bali, and Fiji.
Market Trends and Forecast
Looking ahead to 2025, the market is expected to continue its upward trajectory, driven by infrastructure development and a focus on sustainability. The UAE economy is forecast to grow by 5.0%i, sustaining growth in real estate markets. Dubai’s real estate market has shown resilience and growth in 2024, with a notable surge in luxury property transactions. In the first half of 2024, the total value of real estate transactions crossed AED 230 billionii, an increase of more than 25% increase compared to the same period in 2023.
