Damac Properties, one of Dubai’s leading private developers, reported an incredible achievement on Thursday. The company sold over Dh10 billion worth of properties in less than 10 hours, marking a successful end to 2024 and boosting investor confidence for the coming year.
The impressive sale included 3,100 units from Damac Islands, launched just last month. Located in Dubailand, Damac Islands is the company’s sixth master development. The project features six themed clusters: Maldives, Bora Bora, Seychelles, Hawaii, Bali, and Fiji.
Hussain Sajwani, founder and chairman of Damac Properties, expressed his gratitude and optimism:
“This unprecedented sales achievement reflects the market’s confidence in Dubai. We remain committed to delivering exceptional projects that meet the evolving needs of our clients.”
Dubai Real Estate Market Confidence Soars
Dubai’s real estate market is seeing strong demand, with high-net-worth individuals and end-users snapping up properties. Major developers like Damac are selling units in hours, while smaller and newer developers are closing sales within days or weeks, showcasing the trust and confidence investors have in the emirate.
Additionally, Dubai’s property prices remain much lower than global hotspots like London, New York, and Hong Kong, making it an attractive destination for luxury property buyers.
Positive Outlook for 2025
Looking forward to 2025, Dubai’s real estate market is expected to maintain its growth momentum. Key drivers include ongoing infrastructure developments and a strong focus on sustainability, which are shaping the future of the sector.
As 2024 closes, Dubai’s real estate market has shown resilience, especially with a surge in luxury property transactions. With such positive trends, the market remains a key area of interest for global investors.
