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Damac Properties launched on Wednesday Damac Islands 2, a new phase of its Damac Islands master-planned community in Dubai's Dubailand area, one year after the record-breaking debut of Damac Islands 1, signalling sustained appetite for waterfront and resort-style residential developments in the emirate.
On 10 December 2024, Damac Properties sold 3,164 units at Damac Islands 1, generating $2.7 billion (AED 10.2 billion), setting a Guinness World Record for the highest revenue generated by a real estate launch in 24 hours.
“Five years ago, we pioneered the lagoon concept in the UAE, and since then, we've continued to expand our portfolio of water-centric communities,” said Amira Sajwani, Managing Director of Damac Properties: “The launch of Damac Islands 2 is inspired by the overwhelming success of Damac Islands 1 and the strong market appetite for waterfront living. Its strategic location, adjacent to Damac Islands 1, allows us to build on that credibility and momentum.”
Damac Islands 2 is the seventh master-planned community in Damac Properties’ portfolio, which includes Damac Hills, Damac Hills 2, Damac Lagoons, Damac Sun City, Damac Riverside, and Damac Islands 1.
The total number of resdential units on offer within Damac Island project weren't disclosed but the project mainly comprises of luxury villas and townhouses.
Delivery pipeline
Two of Damac’s communities have already been fully delivered and are occupied, while Damac Lagoons is currently being handed over.
“Damac Riverside and Sun City are under construction while Damac Islands 1 is on track for completion in 2028, and Damac Islands 2 scheduled to be completed within four years,” said Sajwani.
She said community building is central to the developer’s design philosophy.
“We aim to create environments so compelling that residents rarely need to leave our communities,” said Sajwani. “Across all our developments, we place a strong emphasis on family living, curated amenities, and retail and lifestyle experiences.”
Having delivered 50,000 homes to date, the developer currently has over 54,000 units in the planning, development and construction stages.
“We aim to deliver around 6,000 units in 2026,” disclosed Sajwani. “As market demand evolves, we continue to evaluate new opportunities and add more units over the coming year.”
Ambitious decade ahead
At the launch ceremony, Hussein Sajwani, Founder and Chairman of Damac Group, challenged his team to deliver 70 master-planned communities over the next 10 years.
“Since launching Damac Properties in 2002, I envisioned building communities reminiscent of my childhood in Deira, Dubai, a neighborhood where everything from shopping to leisure amenities was within walking distance and where there was a true sense of belonging,” said Sajwani.
“That vision came to life in 2011 with the development of Damac Hills, our first master-planned community. I’m proud of our growth, what my team has achieved, and the pace at which we’ve reached our seventh community offering in Dubai.”
“I truly believe our community developments are unique in their offering of family living combined with retail convenience and leisure experiences,” he said.
He added that all Damac’s master-planned developments are located within Dubailand, which he described as “the future of community living” in Dubai.
(Reporting by Dennis Daniel; Editing by Anoop Menon)
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