Thu, Dec 12, 2024 | Jumada al-Aakhirah 11, 1446 | DXB ktweather icon0°C

AX Premium Properties celebrates DAMAC Island’s record-breaking success in Dubai’s luxury market

The record-breaking sales event saw 3,065 units snapped up, underscoring the surging demand for luxury properties in the emirate

Published: Thu 12 Dec 2024, 5:18 PM

Top Stories

In a landmark achievement for Dubai’s luxury real estate sector, DAMAC Islands, an ultra-premium development by AX Premium Properties, has set a new benchmark by selling Dh10 billion worth of villas within just eight hours. The record-breaking sales event saw 3,065 units snapped up, underscoring the surging demand for luxury properties in the emirate.

In response to the overwhelming success, plans for the next phases of DAMAC Islands are already underway, promising to cater to the exceptional demand.

DAMAC Island introduces a new level of luxury living, inspired by tropical destinations like the Maldives, Bora Bora, and Seychelles. The property features exclusive villas with private beaches, a waterfall lagoon, a jungle river, and scenic waterfront views. It is designed to offer a distinctive living experience for those seeking privacy, comfort, and a refined lifestyle.

The year 2024 has witnessed remarkable growth in Dubai’s real estate sector, driven by foreign and domestic investors alike. Nadeem Sufy, CEO of AX Premium Properties, highlighted the appeal of Dubai to high-net-worth clients from countries such as the US, UK, and India. He noted that the city’s safety, lucrative investment opportunities, and luxurious lifestyle are key drivers attracting these discerning buyers.

The UAE government’s ambitious long-term real estate strategy aims to boost property transactions to Dh1 trillion ($273 billion) by 2033, signalling continued confidence in the sector’s robust potential.

Key Market Highlights

  • Over AED 376 billion in real estate investments during the first nine months of 2024.
  • 20,460 sales transactions in October, reflecting a 13 per cent increase compared to September.
  • 48 new projects launched in October, adding 15,000 units to the market.
  • The record sale of a penthouse at Como Residences for Dh500 million marked one of the highest-value transactions in Dubai’s history.

Additionally, Nakheel’s Palm Jabal Ali project has seen immense success, with the first four fronds of beachfront villas and mansions sold out by November 2024. More investment opportunities for waterfront properties are expected to be unveiled in the coming months.

For more information, visit www.axproperty.com



Next Story