With more than 3,100 units sold from the newly opened DAMAC Islands complex in just ten hours, DAMAC Properties reported record-breaking sales of over AED 10 billion.
Star-Studded Marketing Campaign
Launched in November, the initiative featured a high-profile marketing campaign featuring internationally recognized celebrities such as Lebanese actress Nadine Njeim, boxing champion Amir Khan, Sara Ali Khan, Bollywood star Amitabh Bachchan, football coach John Terry, and Ranveer Singh.
Project Overview and Unique Concept
DAMAC Islands, the company’s sixth master development, is in Dubailand. The project draws inspiration from renowned island destinations and features six distinct clusters: the Maldives, Bora Bora, Seychelles, Hawaii, Bali, and Fiji.
Leadership Perspective
Hussain Sajwani, Founder and Chairman of DAMAC Properties, said, “This unprecedented sales achievement reflects the market’s confidence in Dubai, in our vision, and in the unique appeal of the DAMAC Islands. We remain committed to delivering exceptional projects that meet the evolving needs of our clients.”
Market Context and Expansion
The market is performing well at the time of the introduction. To meet the rising demand for communal living, DAMAC added three master communities to its portfolio in 2023. The developer now manages nearly 250 million sq ft of master community development.
Also Read: Emaar Properties doubles dividend to $2.4bn
Economic Outlook and Real Estate Trends
Market forecasts for 2025 remain optimistic. The UAE economy is expected to grow by 5%, with Dubai’s real estate market showing particular resilience. The first half of 2024 saw real estate transactions exceed AED 230 billion, representing a more than 25% increase compared to the same period in 2023.
