Dubai is seeing a significant rise in off-plan real estate debuts, all thanks to new Dubai Islands. The new island “Damac Islands,” a project under construction, is situated in Dubailand and is only 15 to 20 minutes away from Dubai Sports City and Dubai Investments Park. The developer, Damac, has set the starting price for townhouses with four bedrooms and 2,208 square feet of built-up area at Dh2.25 million. The homes, which are 4,440 square feet in size and include six bedrooms, cost Dh6.3 million.
The launch will help ‘island living’ pricing options in Dubai. “Investors looking to Dubai will see anything from over Dh2 million (on Damac Islands) to the Dh19 million plus homes on Palm Jebel Ali,” said an estate agent. “All these waterfront-based offplan options coming together have opened up new possibilities for investors in Dubai. Where earlier they could only look at super-premiums that similar homes command on Palm Jumeirah or Jumeira Bay.”
Nakheel will also offer “Dubai Islands,” while Majid Al Futtaim’s Tilal Al Ghaf will feature two “island” hubs. (In actuality, prices for some of the island residences at Tilal Al Ghaf have been breaking records.)
Sobha just started selling villas at “Siniya Island” in Umm Al Quwain, with prices starting at Dh10.5 million and apartments at Dh1.18 million. With the Wynn hotel and other highly awaited developments in the United Arab Emirates currently taking place in the Al Marjan, Ras Al Khaimah is experiencing its own island moment.
From the facts mentioned above, it is clear that the UAE real estate market is experiencing a full-scale “island” resurgence.
“This project embodies our vision of creating spaces where residents can find both escape and connection—an oasis that feels exclusive and warm,” said Hussain Sajwani, founder and Chairman of Damac Properties at the new islands launch.
Notable celebrities including Bollywood’s Amitabh Bachchan and Ranveer Singh, boxing champion Amir Khan, and Lebanese actor Nadine Njeim were invited by Damac to emphasize that point.
Damac’s first off-plan project that was initiated in 2020 was the Lagoons project, which was introduced in 2021. Interestingly, the project ended up being one of the developer’s biggest hits.
“When you are creating a lagoon themed development, you can then aspire for an ‘island’ project,” said a real estate consultant. “That’s what’s happening with Damac Islands. There continues to be demand for waterfront living options in Dubai – it’s a demand far from drying up.”
Source: Propertynews
