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Developer profile · Since 2002

DAMAC Properties

Dubai's largest private developer; value, flexible plans

50,000+Homes delivered
2002Founded
70–80%On-time delivery
6–12 monthsTypical delay
265homes we manage in DAMAC communities and DAMAC-built towers

At a glance

Dubai's largest private developer: lower prices and flexible plans; check handover dates closely

DAMAC is Dubai's largest private developer.

Ayman Hoque

Reviewed by Ayman Hoque, Operations Manager, Live Dubai InternationalDubai Land Department broker card no. 55937 · Checked October 2026 · 24 sources

Read our full verdict

It says it has delivered more than 50,000 homes (August 2026) and it sold more off-plan homes in Dubai than anyone else in H1 2026. It is known for large villa and townhouse communities in Dubailand, branded towers and flexible payment plans, and its communities usually cost less per sq ft and rent for more relative to price than Emaar's. The main thing to weigh is timing: independent estimates put average delays at 6–12 months on 2023–24 handovers, and as a private company it publishes no audited accounts or handover statistics.

Best for

  • Villas at lower prices
  • Post-handover payment plans
  • Yield-focused villa investors
Delivery recordMixed
PricesValue
Payment plans50/50–75/25
Post-handover plansSometimes

What DAMAC does well

  • Large and active: AED 36bn of sales in 2025 and 5,706 off-plan homes sold in H1 2026, the most in Dubai by volume.
  • Lower entry prices for houses: DAMAC Hills 2 at AED 1,174/sq ft and DAMAC Lagoons at AED 1,624, against AED 2,584 at Emaar's Dubai Hills Estate.
  • Higher gross yields on villas: 6.09% at DAMAC Lagoons and 6.03% at DAMAC Hills 2.
All 5 points in full
  • Large and active: AED 36bn of sales in 2025 and 5,706 off-plan homes sold in H1 2026, the most in Dubai by volume (company figures).
  • Lower entry prices for houses: DAMAC Hills 2 at AED 1,174/sq ft and DAMAC Lagoons at AED 1,624 (Bayut, July 2026), against AED 2,584 at Emaar's Dubai Hills Estate (September 2026).
  • Higher gross yields on villas: 6.09% at DAMAC Lagoons and 6.03% at DAMAC Hills 2 (Bayut, H1 2026).
  • Flexible payment plans, from 50/50 to 75/25 on 2025–26 launches, some with the 4% DLD fee waived and some with post-handover instalments.
  • Improving credit standing: S&P raised it to B+ in March 2022 and Moody's rated it Ba2 with a positive outlook in February 2025.

Check before you buy

  • Handover dates often move. Check the date in your SPA, the grace period, and the latest DLD construction percentage.
  • On post-handover plans the title deed is held until the final payment, which limits refinancing and resale until then.
  • The same 4-bed townhouse layouts are sold in DAMAC Hills 2, Lagoons, Islands, Sun City and Riverside, so expect strong resale competition at handover.
All 5 points in full
  • Handover dates often move. Check the date in your SPA, the grace period, and the latest DLD construction percentage. DAMAC Lagoons launched in November 2021 with a 3–4 year build quoted; later clusters are now due in 2027–28.
  • On post-handover plans the title deed is held until the final payment, which limits refinancing and resale until then (broker analysis, April 2026).
  • The same 4-bed townhouse layouts are sold in DAMAC Hills 2, Lagoons, Islands, Sun City and Riverside, so expect strong resale competition at handover (2026).
  • Book an independent snagging inspection. Brokers report that finishing on standard homes is less consistent than in DAMAC's branded towers (2026).
  • Dubailand communities are car-dependent with no metro. Ask about drainage and road access in heavy rain: parts of DAMAC Hills 2 had waterlogged roads after the 16 April 2024 storm that hit much of Dubai.

Selling now

DAMAC projects you can buy

Prices change quickly. Tap a project and we’ll send today’s prices and floor plans.

All 13 DAMAC project guides

DAMAC Islands by DAMACUnder construction
Dubailand

DAMAC Islands

Prices and floor plans sent on request
HandoverQ4 2028Plan75/25Beds4–7
Details
Type
Townhouses and villas
Bedrooms
4–7
Sizes
2,208–17,079 sq ft
View project
DAMAC Sun City by DAMACSold out
Dubailand

DAMAC Sun City

Prices and floor plans sent on request
HandoverQ1 2028Plan75/25Beds4–5
Details
Type
Townhouses
Bedrooms
4–5
Sizes
2,319–3,323 sq ft
View project
Chelsea Residences, Towers 1 and 2 by DAMACUnder construction
Dubai Maritime City

Chelsea Residences, Towers 1 and 2

Prices and floor plans sent on request
HandoverQ4 2029Plan20/40/40Beds1–3
Details
Type
Chelsea FC-branded apartments
Bedrooms
1–3
Sizes
811–2,132 sq ft
View project
Chelsea Residences 2, Towers A and B by DAMACSelling now
Dubai Maritime City

Chelsea Residences 2, Towers A and B

Prices and floor plans sent on request
HandoverQ4 2029Plan60/40Beds1+
Details
Type
Apartments
Bedrooms
1+
Coral Reef by DAMACSold out
Dubai Maritime City

Coral Reef

Prices and floor plans sent on request
HandoverQ1 2028Plan70/30Beds1+
Details
Type
Apartments
Bedrooms
1+
View project
Show all 17 projects
Riverside Views (Marine 1) by DAMACUnder construction
DAMAC Riverside, Dubai Investments Park 2

Riverside Views (Marine 1)

Prices and floor plans sent on request
HandoverQ1 2029Plan10/60/30Beds1–2
Details
Type
Apartments
Bedrooms
1–2
Sizes
707–1,368 sq ft
View project
DAMAC Riverside townhouses by DAMACUnder construction
Dubai Investments Park 2

DAMAC Riverside townhouses

Prices and floor plans sent on request
HandoverDecember 2027Plan75/25Beds4–5
Details
Type
Townhouses
Bedrooms
4–5
Sizes
2,297–3,407 sq ft
View project
Canal Crown by DAMACUnder construction
Business Bay

Canal Crown

Prices and floor plans sent on request
HandoverQ4 2027Plan60/40BedsStudio–4
Details
Type
Apartments and duplexes
Bedrooms
Studio–4
Sizes
370–2,014 sq ft
View project
DAMAC Altitude (formerly Canal Crown 2) by DAMACUnder construction
Business Bay

DAMAC Altitude (formerly Canal Crown 2)

Prices and floor plans sent on request
HandoverQ1 2028Plan60/40BedsStudio–3
Details
Type
Apartments and townhouses
Bedrooms
Studio–3
Sizes
440–4,140 sq ft
Volta by DAMACUnder construction
Downtown Dubai

Volta

Prices and floor plans sent on request
HandoverQ2 2028Plan1% monthlyBeds1+
Details
Type
Apartments
Bedrooms
1+
View project
Elo 3 by DAMACUnder construction
DAMAC Hills 2

Elo 3

Prices and floor plans sent on request
HandoverQ3 2027Plan1% monthlyBeds1–2
Details
Type
Apartments
Bedrooms
1–2
Sizes
528–1,084 sq ft
View project
Cavalli Tower by DAMACUnder construction
Dubai Marina

Cavalli Tower

Prices and floor plans sent on request
HandoverEnd of 2026Beds1–5 and penthouses
Details
Type
Cavalli-branded apartments (71 storeys, 436 homes)
Bedrooms
1–5 and penthouses
Shoreline by DAMAC by DAMACUnder construction
Al Marjan Island, Ras Al Khaimah

Shoreline by DAMAC

Prices and floor plans sent on request
HandoverQ3 2028Plan70/30Beds1+
Details
Type
Apartments and townhouses
Bedrooms
1+
View project
DAMAC Hills 2: Park Greens and remaining villa clusters by DAMACUnder construction
Dubailand

DAMAC Hills 2: Park Greens and remaining villa clusters

Prices and floor plans sent on request
HandoverQ1 2027 (Park Greens Phase 2)Plan60/40Beds3–5
Details
Type
Villas and townhouses
Bedrooms
3–5
Compare all 17 DAMAC projects in a table
DAMAC Properties projects selling now: area, starting price, payment plan and handover date
Bedrooms
DAMAC Islands 2 (Antigua, Bahamas, Barbados, Bermuda, Cuba, Maui, Mauritius, Tahiti)Dubailand20/30/50Q2 20304–7
DAMAC IslandsDubailand75/25Q4 20284–7
DAMAC Sun CityDubailand75/25Q1 20284–5
Chelsea Residences, Towers 1 and 2Dubai Maritime City20/40/40Q4 20291–3
Chelsea Residences 2, Towers A and BDubai Maritime City60/40Q4 20291+
Coral ReefDubai Maritime City70/30Q1 20281+
Riverside Views (Marine 1)DAMAC Riverside, Dubai Investments Park 210/60/30Q1 20291–2
DAMAC Riverside townhousesDubai Investments Park 275/25December 20274–5
Canal CrownBusiness Bay60/40Q4 2027Studio–4
DAMAC Altitude (formerly Canal Crown 2)Business Bay60/40Q1 2028Studio–3
VoltaDowntown Dubai1% monthlyQ2 20281+
Elo 3DAMAC Hills 21% monthlyQ3 20271–2
DAMAC Lagoons (Venice, Mykonos, Amalfi, Marbella, Monte Carlo, Ibiza, Valencia, Cetara, Piazza Roma offices)Dubailand50/50Phased: Venice Q2 2027, Mykonos and Amalfi 2027 to 2028, Cetara Q1 2030Studio–7
Cavalli TowerDubai MarinaEnd of 20261–5 and penthouses
Safa One (de Grisogono)Al Safa10/90Q4 2026
Shoreline by DAMACAl Marjan Island, Ras Al Khaimah70/30Q3 20281+
DAMAC Hills 2: Park Greens and remaining villa clustersDubailand60/40Q1 20273–5

Tap a column heading to sort. Dates as checked October 2026.

Track record

Does DAMAC finish on time?

70–80% on time

DAMAC has a long record of selling quickly and delivering late, though recent delays are shorter than in its early years.

0%Projects handed over on time100%
See project by project (6)
  1. ProjectMarina Terrace, Dubai Marina
    PromisedNot published
    What happenedKeys handed over March 2005, about 14 months late
    Late
  2. ProjectOcean Heights, Dubai Marina
    PromisedEnd of 2007
    What happenedTarget moved to end of 2009 (reported June 2006)
    Late
  3. ProjectDAMAC Lagoons, first clusters (Portofino, Nice)
    Promised3–4 years from the November 2021 launch
    What happenedPortofino handed over Q4 2024 and Nice Q1 2025, within that window
  4. ProjectDAMAC Lagoons, later clusters (Santorini, Venice, Mykonos, Amalfi)
    Promised3–4 years from the November 2021 launch; cluster SPA dates not published
    What happenedAbout 513 Lagoons homes handed over in 2025 and 6,300 targeted in 2026. Santorini handovers run from November 2025 to Q1 2027; Venice Q2 2027; Mykonos and Amalfi 2027–28 (September 2026)
  5. ProjectCavalli Tower, Dubai Marina
    PromisedLaunched September 2021; original date not published
    What happenedTopped out November 2025; handover expected by end of 2026
  6. ProjectAll DAMAC handovers, 2023–24
    PromisedSPA handover dates
    What happenedAverage 6–12 months late; 70–80% of projects estimated on time
    On time
Projects they have finished (8)
DAMAC HillsDubailand · Villas, townhouses and apartmentsCompleted Phased from c. 2016
DAMAC Hills 2Dubailand · Villas, townhouses and apartmentsCompleted Phased from c. 2018–19
DAMAC Lagoons first clusters (Portofino, Nice, Costa Brava, Malta)Dubailand · Townhouses and villasCompleted 2024–2026
DAMAC HeightsDubai Marina · ApartmentsCompleted 2018
GhaliaJumeirah Village Circle · Serviced apartmentsCompleted 2019
Ocean HeightsDubai Marina · ApartmentsCompleted c. 2010
The WavesDubai Marina · ApartmentsCompleted 2006
Marina TerraceDubai Marina · ApartmentsCompleted 2005

Prices

DAMAC prices and rental returns

DAMAC's villa communities rose strongly in 2024–25 but have levelled off in 2026.

DAMAC Hills
AED 1,639/sq ft4.95% villas yield
DAMAC Hills 2
AED 1,174/sq ft6.03% villas yield
DAMAC Lagoons
AED 1,624/sq ft6.09% villas yield
Business Bay (apartments, all developers)
AED 2,124/sq ft6.29% yield
DAMAC Lagoons delivered clusters
6.2–7.8% gross yield
See the full figures

DAMAC's villa communities rose strongly in 2024–25 but have levelled off in 2026. Bayut's listing index shows DAMAC Hills 2 at AED 1,174/sq ft, up 19.6% over two years but only 0.83% over the year to July 2026. DAMAC Lagoons is at AED 1,624, up 19.5% over two years and 1.54% over the year. DAMAC Hills is at AED 1,639, flat on the year (−0.02%) and up 7.8% over two years, with branded clusters doing best. Across Dubai, prices were 10.2% below the February 2026 peak in August 2026, and off-plan registrations were down 40.4% year on year, which matters because most DAMAC buyers are off-plan investors. Resale prices for 2024–25 launches such as Sun City and Chelsea Residences have not been published; there were 69 and 11 resale listings respectively in October 2026. Yields are DAMAC's strong point: gross villa yields of 6.09% at Lagoons, 6.03% at DAMAC Hills 2 and 4.95% at DAMAC Hills (Bayut, H1 2026). Net yields are about 1–2 points lower once service charges and management are paid.

CommunityPrice per sq ftChangeGross yield
DAMAC HillsAED 1,639 (July 2026)−0.02% (July 2026)4.95% villas (H1 2026)
DAMAC Hills 2AED 1,174 (July 2026)+0.83% (July 2026)6.03% villas (H1 2026)
DAMAC LagoonsAED 1,624 (July 2026)+1.54% (July 2026)6.09% villas (H1 2026)
Business Bay (apartments, all developers)AED 2,124 (H1 2026)6.29% (H1 2026)
DAMAC Lagoons delivered clusters6.2–7.8% gross; 5.0–6.0% net (Q1 2026)

Asking prices, gross yields. Work out a net return

Payment plans

DAMAC payment plans

A typical DAMAC plan

On bookingDuring constructionOn handover

On a home priced at AED 1,000,000 that is AED 200,000 on booking, AED 400,000 during construction, AED 400,000 on handover. Government registration fees are paid on top.

Payment plansPlans vary by launch. 2025–26 launches use 50/50, 60/40, 70/30 or 75/25, sometimes with the 4% DLD fee waived.

Plans vary by launch. 2025–26 launches use 50/50, 60/40, 70/30 or 75/25, sometimes with the 4% DLD fee waived. Examples: Chelsea Residences 20/40/40, Sun City 20/55/25, Riverside Views 10/60/30. The older 1% a month plans are less common in 2026.

Post-handover plansStill offered on selected projects, mainly DAMAC Lagoons and DAMAC Hills 2, with fewer on newer launches.

Still offered on selected projects, mainly DAMAC Lagoons and DAMAC Hills 2 (July 2026), with fewer on newer launches. The title deed is held until the final payment.

Golden VisaHomes bought for AED 2m or more qualify under the standard rule.

Homes bought for AED 2m or more qualify under the standard rule. DAMAC markets Golden Visa eligibility on DAMAC Islands 2 (2026).

Mortgages on off-planDAMAC announced new banking partnerships for international buyers for 2025.

DAMAC announced new banking partnerships for international buyers for 2025 (Gulf News, January 2026). The banks were not named.

Branded residencesCavalli, de Grisogono, Chelsea FC and Paramount.

Cavalli (Dubai Marina tower and Cavalli Estates at DAMAC Hills), de Grisogono (Safa One), Chelsea FC (Dubai Maritime City) and Paramount (Business Bay).

Service chargesAED per sq ft a year: DAMAC Hills 2 about 3–6, DAMAC Hills villas 4–12 depending on cluster, DAMAC Lagoons 6–9, Business Bay towers 12–25.

AED per sq ft a year (2026 ranges; sources differ): DAMAC Hills 2 about 3–6, DAMAC Hills villas 4–12 depending on cluster, DAMAC Lagoons 6–9, Business Bay towers 12–25. Check the exact figure on Mollak.

Is DAMAC right for you?

DAMAC suits investors looking for villas and townhouses at lower prices than Emaar, with gross yields of around 6%.

Read DAMAC’s story
  1. 2002DAMAC Properties founded by Hussain Sajwani. Early towers in Dubai Marina and Jumeirah Lake Towers.
  2. 2005Marina Terrace handed over in March, about 14 months late. Several early Dubai Marina towers were delivered 1–2 years late.
  3. 2013Signed a golf course deal for AKOYA, now DAMAC Hills.
  4. 2014Launched AKOYA Oxygen, now DAMAC Hills 2.
  5. 2015Listed on the Dubai Financial Market.
  6. 2017Trump International Golf Club Dubai opened at DAMAC Hills in February.
  7. 2018DAMAC Heights, an 88-floor tower in Dubai Marina, completed.
  8. 2021Delivered 7,400 homes. Launched DAMAC Lagoons on 1 November. Net loss of AED 528m on revenue of AED 2.96bn.
  9. 2022Taken private by Hussain Sajwani and delisted. S&P upgraded it to B+ in March. Net profit of AED 1.4bn for the year.
  10. 2024Launched DAMAC Islands in November, selling AED 10.2bn in under 24 hours, and Sun City in December.
  11. 2025Sold a USD 750m sukuk in February. Launched Chelsea Residences (July) and DAMAC Islands 2 (November, AED 11bn in five hours). Cavalli Tower topped out in November. Sales of AED 36bn for the year.
  12. 2026H1 off-plan sales of AED 15.6bn. USD 2.72bn of construction contracts awarded in H1. Launched DAMAC Altitude and Elo 3. Targeting 8,800 handovers for the year.
Founded
2002, by Hussain Sajwani
Ownership
Private. Delisted from the Dubai Financial Market in 2022 and controlled by Hussain Sajwani (chairman); Amira and Ali Sajwani are managing directors
Homes delivered
More than 50,000 since 2002 (company figure, August 2026)
Pipeline
More than 55,000 homes in planning and development; 8,800 handovers targeted in 2026 (company figures, August 2026)
Sales
AED 36bn in 2025; AED 15.6bn from 5,706 off-plan homes in H1 2026 (company figures)
Credit rating
Ba2, positive outlook (Moody's, February 2025)
Share of Dubai off-plan sales
7.6% by volume (ValuStrat, August 2026)
Best known for
DAMAC Hills, DAMAC Hills 2, DAMAC Lagoons, DAMAC Islands and branded towers (Cavalli, Chelsea)

FAQs

Questions about DAMAC

Is DAMAC a reliable developer?

DAMAC has delivered more than 50,000 homes (company figure, August 2026) and Moody's rates it Ba2 with a positive outlook (February 2025), so it is a credible developer. Its weak point is timing: independent estimates put average delays on 2023–24 handovers at 6–12 months. Plan for a later handover than the date in the brochure.

What is the DAMAC payment plan?

It depends on the launch. 2025–26 plans are typically 50/50, 60/40, 70/30 or 75/25, often with the 4% DLD fee waived. Examples: Chelsea Residences 20/40/40, Sun City 20/55/25 and Riverside Views 10/60/30. The older 1% a month plans are now rarer.

Does DAMAC offer post-handover payment plans?

On some projects, mainly DAMAC Lagoons and DAMAC Hills 2 (2026). Newer launches offer fewer. The title deed stays with DAMAC until you make the final payment, so you cannot easily refinance or sell before then.

Does DAMAC delay handovers?

Often, by months rather than years in recent projects. Its early Dubai Marina towers were 1–2 years late (2005–2010). For 2023–24 handovers, a broker analysis of DLD records (April 2026) puts the average delay at 6–12 months beyond the SPA date. Your SPA sets a grace period, so read it before you sign.

When is the DAMAC Lagoons handover?

It is phased. Portofino handed over in Q4 2024 and Nice in Q1 2025. Broker trackers show Santorini handing over from November 2025 to Q1 2027, Venice in Q2 2027, Mykonos and Amalfi in 2027–28, and Cetara in Q1 2030 (September 2026). DAMAC targets 6,300 Lagoons handovers in 2026.

Who owns DAMAC?

Hussain Sajwani, who founded it in 2002 and took it private in 2022. His children Amira and Ali Sajwani are managing directors. There are no public shareholders and no published audited accounts.

What are DAMAC service charges?

Roughly AED 3–6 per sq ft a year at DAMAC Hills 2, 4–12 at DAMAC Hills depending on the cluster, 6–9 at DAMAC Lagoons and 12–25 in Business Bay towers (2026 ranges; sources disagree). Check the building on Mollak.

Which DAMAC community has the best rental yield?

Villas at DAMAC Lagoons (6.09% gross) and DAMAC Hills 2 (6.03%) yield more than DAMAC Hills (4.95%) (Bayut, H1 2026). Net yields are about 1–2 points lower after service charges and management.

Is DAMAC Islands a good investment?

Demand at launch was strong: AED 10.2bn sold in under 24 hours (2024) and AED 11bn in five hours for DAMAC Islands 2 (2025). Against that, handovers are due in 2028–2030, the location is deep in Dubailand with no metro, the 4-bed layouts are shared with other DAMAC communities, and Dubai prices fell 10.2% from February to August 2026. It suits a buyer planning to hold for several years.

What is the difference between DAMAC Hills and DAMAC Hills 2?

DAMAC Hills is the older, more central community built around a golf course, at AED 1,639/sq ft. DAMAC Hills 2 is further out in Dubailand and cheaper, at AED 1,174/sq ft (Bayut, July 2026). DAMAC Hills 2 villas yield more: 6.03% against 4.95% (Bayut, H1 2026).

Sources and how we checked (24)

Facts checked October 2026 from the developer’s own announcements and results, Dubai Land Department records (via Property Finder, DXBinteract and Propsearch), Bayut market reports and the press. Figures given by the developer are labelled as theirs. This page is information, not financial advice.

  1. DAMAC 2025 sales (Gulf News, 20 January 2026)
  2. DAMAC H1 2026 sales press release (Zawya, 3 August 2026)
  3. DAMAC homes and contracts awarded in H1 2026 (Middle East Construction News, 2 September 2026)
  4. DAMAC Properties (Wikipedia)
  5. Sajwani offers to take DAMAC private (Khaleej Times, 9 June 2021)
  6. DAMAC 2022 results (Gulf News, 16 March 2023)
  7. S&P upgrades DAMAC as it returns to growth (Middle East Construction News, 23 March 2022)
  8. DAMAC prices US$750m sukuk (EnterpriseAM, 21 February 2025)
  9. Khaleej Times report on DAMAC construction delays (2 June 2006)
  10. DAMAC Lagoons launch (Gulf News, 1 November 2021)
  11. Cavalli Tower tops out (Gulf News, 7 November 2025)
  12. Off-plan handover delays in Dubai: developer track records (Real Estate Club Dubai, March 2026)
  13. DAMAC Properties review 2026 (House & Hedges, July 2026)
  14. DAMAC Lagoons review 2026 (Zeyad Eid, September 2026)
  15. DAMAC Islands prices 2026 (Zeyad Eid, September 2026)
  16. DAMAC new projects (Bayut, October 2026)
  17. DAMAC Sun City (Property Finder, October 2026)
  18. Chelsea Residences by DAMAC (Property Finder, October 2026)
  19. DAMAC Riverside Views (Property Finder, October 2026)
  20. Canal Crown (Property Finder, October 2026)
  21. Bayut price index: DAMAC Hills (July 2026)
  22. Bayut price index: DAMAC Hills 2 (July 2026)
  23. Dubai property prices August 2026, ValuStrat data (Property Portfolio Investor, 16 September 2026)
  24. Bayut H1 2026 sales report

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