Dubai Property Market
- 36% YoY
Property sale volume
- 20% YoY
Property sale value (AED)
A prominent and eye-catching example of what can be achieved within the realms of real estate in Dubai
The area brings lush Mediterranean-style waterside living to the middle of the UAE. Each exclusive cluster community within the master-planned Lagoons is inspired by notable and beloved destinations around the famous sea: Portofino, Venice, Malta, Nice, Santorini, Costa Brava, Marbella, Monte Carlo – and the newly launched Ibiza.
Although relatively new, even for Dubai – the DAMAC Lagoons property market is only a few years old – it is already a firm favourite with families and investors.
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DAMAC Lagoons's Property Market Performance
As the name suggests, DAMAC Lagoons is a flagship development by DAMAC – one of the UAE’s most respected and successful developers.
When they first came to the market as off-plan opportunities a few years ago, these elegant townhouses and villas were quickly acquired by buyers who recognised the project’s ambition.
As the first stage of DAMAC Lagoons properties and the wider masterplan neared completion, it became very apparent that the ‘Wonders of the Mediterranean’ concept had been brought to life and the Lagoons became the new standard for high-end, residential living in Dubai.
Now, as DAMAC launches its latest addition to the Lagoons – the Ibiza cluster – it is also becoming apparent that transaction values have increased, and demand remains undiminished.
Due to the new and exclusive nature and unique cluster design of DAMAC Lagoons, it is one of the more opaque markets in Dubai, with many investors realising fluctuating levels of capital gains.
DAMAC Lagoons statistics for completed villa and townhouse properties:
- The average transaction sales price in DAMAC Lagoons in December 2024: 5.3M
- The average transaction sales price in DAMAC Lagoons in December 2024per sq ft: 1,408 AED
Community Living Investments at DAMAC Lagoons
One of the reasons that properties in the Lagoons are so popular is the modular manner in which each new phase adds more amenities to the wider community.
Residents can already enjoy high-class schools, brilliant blue lagoons views, infinity pools, waterside cafes, a floating cinema, yoga meditation lawns, an Augmented Reality (AR) nature trail, and spa salons.
However, each new phase brings its own characterful additions – the Ibiza cluster adds vibrant nightlife for instance.
This added value means that investors’ and owners’ properties essentially become more sought after and more valuable with each additional phase.
In total, DAMAC Lagoons will feature 45m sq ft, of residential bliss.
Metaverse ready investment
In keeping with the bold and visionary nature of the Lagoons, DAMAC has taken the development into the Metaverse.
The developer has made a $100 million investment in D-Labs, a new virtual platform that allows buyers and owners to carry out essential real estate activities, such as checking into their luxury properties virtually, choosing an apartment by walking around it and taking in the views it offers, or even immersing themselves in all the interior packages available to them.
This is expected to only heighten the development’s appeal to overseas investors, who will be able to experience the Lagoons lifestyle from anywhere in the world.
DAMAC Lagoons investment and location
From an investment perspective, DAMAC Lagoons is strategically located close to many other major attractions and hubs in Dubai.
It is found in the Dubailand region, adjacent to Hessa Street, and a short walk from Al Khail Street and Sheikh Mohammed Bin Zayed Road.
Travel distances from DAMAC Lagoons:
- 25 minutes from Al Maktoum International Airport
- 30 minutes from Dubai International Airport
- 30 minutes from Downtown Dubai
- 25 minutes from Mall of the Emirates
- 35 minutes from Dubai Creek
- 14 minutes from Dubai International Stadium
- 14 minutes from Global Village
- 12 minutes from Dubai Autodrome
- 18 minutes from Expo 2020 Dubai
- 11 minutes from Dubai Polo and Equestrian Club
How to choose a property investment in DAMAC Lagoons
DAMAC Lagoons offers investors a wide range of prime properties. Other than apartments, it covers many of the asset types that are available across the whole of Dubai.
Most Lagoon clusters offer some variation of:
- Two–bedroom townhouses
- Three–bedroom townhouses
- Three bedroom villa
- Four-bedroom villa
- Five-bedroom villa
Although some six-bedroom villas are available in some clusters too.
DAMAC Lagoons real estate outlook
The Lagoons developer Damac has recently enjoyed its most successful annual return and forecasts performance to continue into next year.
Ali Sajwani, managing director of operations and technology at DAMAC Properties, told The National: “We have seen the highest amount of sales since we founded the property group in 2002 and I can tell you we have done more than 100 per cent over our 2021 performance.
“The biggest catalyst was the way Dubai handled Covid. The city shut down for a month and then it opened up to the world and while everyone else was panicking, Dubai was attracting the wealthy.
“Then if you look at Europe today, crime has gone through the roof, security is a big concern for those who want to drive their nice cars and wear expensive watches, whereas in Dubai you can walk the city at 3am and feel reassured. That’s a big benefit. The infrastructure in Dubai is world-class, the visa policies are giving people flexibility and comfort.”
The Lagoons will no doubt play a major role in the upcoming expected success of DAMAC and new phases may be launched in the future.
Not only has there been significant investor interest in the off-plan Ibiza cluster, but the secondary market is now becoming more established and starting to pick up pace too.
Who are DAMAC?
DAMAC Properties is the developer of the Lagoons and many other major prime real estate projects in the GCC and world.
They now have planned, developed and sold investment property in the UAE, Saudi Arabia, Qatar, Jordan, Lebanon, Iraq, the Maldives, Canada, the US, and the UK.
Almost 45,000 investors and owners have purchased properties from DAMAC so far.
What investment budget do you need to buy property in DAMAC Lagoons?
Completed smaller villas in DAMAC Lagoons have been acquired from AED 1.8M in the past 12 months. On average, investors are currently acquiring DAMAC Lagoons property for around AED 1,100 per sq.ft.
