Developer profile
DAMAC Properties
Dubai's largest private developer: lower prices and flexible plans; check handover dates closely
DAMAC is Dubai's largest private developer. 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.
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 (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. 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.
History
The milestones that shaped DAMAC.
- 2002DAMAC Properties founded by Hussain Sajwani. Early towers in Dubai Marina and Jumeirah Lake Towers.
- 2005Marina Terrace handed over in March, about 14 months late. Several early Dubai Marina towers were delivered 1–2 years late.
- 2013Signed a golf course deal for AKOYA, now DAMAC Hills.
- 2014Launched AKOYA Oxygen, now DAMAC Hills 2.
- 2015Listed on the Dubai Financial Market.
- 2017Trump International Golf Club Dubai opened at DAMAC Hills in February.
- 2018DAMAC Heights, an 88-floor tower in Dubai Marina, completed.
- 2021Delivered 7,400 homes. Launched DAMAC Lagoons on 1 November. Net loss of AED 528m on revenue of AED 2.96bn.
- 2022Taken private by Hussain Sajwani and delisted. S&P upgraded it to B+ in March. Net profit of AED 1.4bn for the year.
- 2024Launched DAMAC Islands in November, selling AED 10.2bn in under 24 hours, and Sun City in December.
- 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.
- 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.
Delivery track record
DAMAC has a long record of selling quickly and delivering late, though recent delays are shorter than in its early years. Its first Dubai Marina towers were handed over 1–2 years late between 2005 and 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, and a second broker estimate (March 2026) puts 70–80% of DAMAC projects on time, with DAMAC Hills more consistent than standalone towers. DAMAC Lagoons shows both sides: the first clusters, Portofino and Nice, were handed over within the 3–4 years quoted at launch, but DAMAC handed over only about 513 Lagoons homes in 2025 and later clusters run into 2027–28. On the positive side, DAMAC delivered 7,400 homes in 2021, and DAMAC Hills 2 had about 11,000 completed homes by September 2026. DAMAC publishes no handover statistics of its own.
| Project | Promised handover | What happened | Source |
|---|---|---|---|
| Marina Terrace, Dubai Marina | Not published | Keys handed over March 2005, about 14 months late | Khaleej Times, June 2006 |
| Ocean Heights, Dubai Marina | End of 2007 | Target moved to end of 2009 (reported June 2006) | Khaleej Times, June 2006 |
| DAMAC Lagoons, first clusters (Portofino, Nice) | 3–4 years from the November 2021 launch | Portofino handed over Q4 2024 and Nice Q1 2025, within that window | Gulf News, November 2021; broker handover tracker, September 2026 |
| DAMAC Lagoons, later clusters (Santorini, Venice, Mykonos, Amalfi) | 3–4 years from the November 2021 launch; cluster SPA dates not published | About 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) | Middle East Construction News, September 2026; broker handover tracker, September 2026 |
| Cavalli Tower, Dubai Marina | Launched September 2021; original date not published | Topped out November 2025; handover expected by end of 2026 | Gulf News, November 2025 |
| All DAMAC handovers, 2023–24 | SPA handover dates | Average 6–12 months late; 70–80% of projects estimated on time | Broker analyses of DLD records, March and April 2026 |
DAMAC projects selling or being built now
Starting prices are launch or asking prices at the date shown. Prices move, payment plans change and some projects sell out quickly, so ask us for today’s availability.
| Project | Area | Type | Bedrooms | Sizes | Starting price | Price per sq ft | Payment plan | Handover | Status |
|---|---|---|---|---|---|---|---|---|---|
| DAMAC Islands 2 (Antigua, Bahamas, Barbados, Bermuda, Cuba, Maui, Mauritius, Tahiti) | Dubailand | Townhouses and villas | 4–7 | 2,185–6,276 sq ft | AED 2.75m (launch, November 2025); 4-bed townhouses from c. AED 3.3m (September 2026) | c. AED 1,510 (4-bed townhouse, September 2026, derived) | 75/25 at launch; 50/50 with 4% DLD fee waiver (September 2026) | Q2 2030 (Antigua Q4 2030) | Selling |
| DAMAC Islands | Dubailand | Townhouses and villas | 4–7 | 2,208–17,079 sq ft | AED 2.6m (launch, November 2024) | c. AED 1,178 (launch, 2024, derived) | 20/50/30 | Q4 2028 | Largely sold; resales available |
| DAMAC Sun City | Dubailand | Townhouses | 4–5 | 2,319–3,323 sq ft | AED 2.25m–2.67m (launch, December 2024) | c. AED 1,152 (launch, 2024, derived) | 20/55/25 | Q1 2028 | Sold out (December 2025); construction 7.08% (27 January 2026) |
| Chelsea Residences, Towers 1 and 2 | Dubai Maritime City | Chelsea FC-branded apartments | 1–3 | 811–2,132 sq ft | AED 2.3m for a 1-bed (launch, July 2025) | c. AED 2,836 (launch, 2025, derived) | 20/40/40 | Q4 2029 | Sold out; construction 0.06% (23 October 2025) |
| Chelsea Residences 2, Towers A and B | Dubai Maritime City | Apartments | 1+ | AED 2.96m (listed October 2026) | 60/40 | Q4 2029 | Registering interest | ||
| Coral Reef | Dubai Maritime City | Apartments | 1+ | AED 1.66m (listed October 2026) | 70/30 | Q1 2028 | Selling | ||
| Riverside Views (Marine 1) | DAMAC Riverside, Dubai Investments Park 2 | Apartments | 1–2 | 707–1,368 sq ft | AED 1.3m (launch, January 2025); 1-beds from AED 993,000 (October 2026) | c. AED 1,405 (1-bed, October 2026, derived) | 10/60/30 | Q1 2029 (one portal also shows March 2028) | Selling |
| DAMAC Riverside townhouses | Dubai Investments Park 2 | Townhouses | 4–5 | 2,297–3,407 sq ft | AED 2.0m (March 2026) | c. AED 871 (March 2026, derived) | 5/75/20 | December 2027 | Selling |
| Canal Crown | Business Bay | Apartments and duplexes | Studio–4 | 370–2,014 sq ft | 2-beds from AED 3.5m; duplexes AED 9.4m (listed October 2026) | c. AED 2,670 (2-bed, October 2026, derived) | 20/40/40 (portal also shows 20/60/20) | Q1 2027 (portal also shows Q4 2027) | Sold out; resales available |
| DAMAC Altitude (formerly Canal Crown 2) | Business Bay | Apartments and townhouses | Studio–3 | 440–4,140 sq ft | AED 1.18m (launch, Q1 2026) | c. AED 2,682 (launch, 2026, derived) | 20/50/30 | March 2028 | Selling |
| Volta | Downtown Dubai | Apartments | 1+ | AED 1.67m (listed October 2026) | 80/20 | Q4 2027 | Selling | ||
| Elo 3 | DAMAC Hills 2 | Apartments | 1–2 | 528–1,084 sq ft | AED 1.05m (launch, Q1 2026) | c. AED 1,992 (launch, 2026, derived) | 20/50/30 | August 2027 | Selling |
| DAMAC Lagoons (Venice, Mykonos, Amalfi, Marbella, Monte Carlo, Ibiza, Valencia, Cetara, Piazza Roma offices) | Dubailand | Villas, townhouses, apartments and offices | Studio–7 | 4-bed townhouses c. 2,300 sq ft; 5-bed villas c. 4,000 sq ft; mansions up to 24,750 sq ft | Valencia studios from AED 725,000; Morocco mansions AED 14.4m; Piazza Roma offices AED 4.72m (2026) | AED 1,624 community index (Bayut, July 2026) | 50/50 (2026) | Venice Q2 2027; Mykonos and Amalfi 2027–28; Cetara Q1 2030; Piazza Roma Q2 2030 | Under construction in phases; 6,300 handovers targeted in 2026 |
| Cavalli Tower | Dubai Marina | Cavalli-branded apartments (71 storeys, 436 homes) | 1–5 and penthouses | AED 3m (July 2026) | End of 2026 | Topped out November 2025 | |||
| Bugatti Residences | Business Bay | Bugatti-branded apartments | AED 15m (July 2026) | Under construction | |||||
| Safa One (de Grisogono) | Al Safa | Branded apartments | AED 2m (July 2026) | Under construction; topping out was due Q4 2025 | |||||
| Shoreline by DAMAC | Al Marjan Island, Ras Al Khaimah | Apartments and townhouses | 1+ | AED 1.83m (listed October 2026) | 70/30 | Q3 2028 | Selling | ||
| DAMAC Hills 2: Park Greens and remaining villa clusters | Dubailand | Villas and townhouses | 3–5 | Park Greens from AED 2.89m (October 2026) | AED 1,174 community index (Bayut, July 2026) | 60/40 or 70/30 | 2026 to Q1 2027 | Handing over; 1,500+ villas due in 2026 |
Completed projects
| Project | Area | Completed | Type | Notes |
|---|---|---|---|---|
| DAMAC Hills | Dubailand | Phased from c. 2016 | Villas, townhouses and apartments | About 85% complete and handed over (September 2026). Built around Trump International Golf Club Dubai, opened 2017. Bayut index AED 1,639/sq ft (July 2026). |
| DAMAC Hills 2 | Dubailand | Phased from c. 2018–19 | Villas, townhouses and apartments | About 11,000 completed homes (September 2026). Bayut index AED 1,174/sq ft, up 19.6% over two years to July 2026. |
| DAMAC Lagoons first clusters (Portofino, Nice, Costa Brava, Malta) | Dubailand | 2024–2026 | Townhouses and villas | Costa Brava launched from AED 1.75m and Nice from AED 1.65m (2021–22). Portofino handed over Q4 2024 and Nice Q1 2025. |
| DAMAC Heights | Dubai Marina | 2018 | Apartments | 88-floor tower. |
| Ghalia | Jumeirah Village Circle | 2019 | Serviced apartments | 727 homes. |
| Ocean Heights | Dubai Marina | c. 2010 | Apartments | Due end of 2007; target moved to end of 2009. |
| The Waves | Dubai Marina | 2006 | Apartments | About a year late. |
| Marina Terrace | Dubai Marina | 2005 | Apartments | Keys handed over March 2005, about 14 months late. |
How owners have done
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.
| Community | Price per sq ft | Change | Gross yield | Source |
|---|---|---|---|---|
| DAMAC Hills | AED 1,639 (July 2026) | −0.02% (July 2026) | 4.95% villas (H1 2026) | Bayut price index; Bayut H1 2026 sales report |
| DAMAC Hills 2 | AED 1,174 (July 2026) | +0.83% (July 2026) | 6.03% villas (H1 2026) | Bayut price index; Bayut H1 2026 sales report |
| DAMAC Lagoons | AED 1,624 (July 2026) | +1.54% (July 2026) | 6.09% villas (H1 2026) | Bayut price index; Bayut H1 2026 sales report |
| Business Bay (apartments, all developers) | AED 2,124 (H1 2026) | 6.29% (H1 2026) | Bayut H1 2026 sales report | |
| DAMAC Lagoons delivered clusters | 6.2–7.8% gross; 5.0–6.0% net (Q1 2026) | Broker analysis of DLD data, 2026 |
Bayut and Property Finder figures are mostly asking prices and rents, not completed sales. Yields are gross, before service charges, maintenance and empty periods.
Payment plans and what’s on offer
- Payment plans
- 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 plans
- 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 Visa
- 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-plan
- DAMAC announced new banking partnerships for international buyers for 2025 (Gulf News, January 2026). The banks were not named.
- Branded residences
- Cavalli (Dubai Marina tower and Cavalli Estates at DAMAC Hills), de Grisogono (Safa One), Bugatti (Business Bay), Chelsea FC (Dubai Maritime City) and Paramount (Business Bay).
- Service charges
- 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.
Who DAMAC suits
DAMAC suits investors looking for villas and townhouses at lower prices than Emaar, with gross yields of around 6% (Bayut, H1 2026). It suits buyers who need a longer or post-handover payment plan, and buyers of branded apartments who accept a long build. It suits less well buyers who need the keys on a fixed date, such as families timing a move or a school place, and buyers who want a short commute without a car. In the 2026 market, treat a DAMAC off-plan villa as a long hold rather than a quick resale, because many near-identical homes will reach the resale market at the same time.
Thinking of buying? We have sold off-plan for the major developers and can compare DAMAC projects with similar homes from others, including resales that may cost less than a new launch.
DAMAC FAQs
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 (29)
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.
- DAMAC 2025 sales (Gulf News, 20 January 2026)
- DAMAC H1 2026 sales press release (Zawya, 3 August 2026)
- DAMAC homes and contracts awarded in H1 2026 (Middle East Construction News, 2 September 2026)
- DAMAC Properties (Wikipedia)
- Sajwani offers to take DAMAC private (Khaleej Times, 9 June 2021)
- DAMAC 2022 results (Gulf News, 16 March 2023)
- S&P upgrades DAMAC as it returns to growth (Middle East Construction News, 23 March 2022)
- DAMAC prices US$750m sukuk (EnterpriseAM, 21 February 2025)
- Khaleej Times report on DAMAC construction delays (2 June 2006)
- DAMAC Lagoons launch (Gulf News, 1 November 2021)
- Cavalli Tower tops out (Gulf News, 7 November 2025)
- Off-plan handover delays in Dubai: developer track records (Real Estate Club Dubai, March 2026)
- DAMAC Properties: what buyers report (Oliva, April 2026)
- DAMAC Lagoons review 2026 (Oliva)
- DAMAC Properties review 2026 (House & Hedges, July 2026)
- DAMAC Lagoons review 2026 (Zeyad Eid, September 2026)
- DAMAC Islands prices 2026 (Zeyad Eid, September 2026)
- Is DAMAC Hills 2 a good investment in 2026? (Dubai Housing, October 2026)
- DAMAC new projects (Bayut, October 2026)
- DAMAC Sun City (Property Finder, October 2026)
- Chelsea Residences by DAMAC (Property Finder, October 2026)
- DAMAC Riverside Views (Property Finder, October 2026)
- Canal Crown (Property Finder, October 2026)
- Newly launched DAMAC projects (Betterhomes, March 2026)
- Bayut price index: DAMAC Hills (July 2026)
- Bayut price index: DAMAC Hills 2 (July 2026)
- Dubai property prices August 2026, ValuStrat data (Property Portfolio Investor, 16 September 2026)
- Dubai service charges by area and developer 2026 (Oliva)
- Bayut H1 2026 sales report