Dubai: It’s not just offplan property launches that are booming in Dubai – there are ‘islands’ too.
Coming off the project pipeline is ‘Damac Islands’, located in Dubailand and with clusters such as Dubai Investments Park and Sports City just 15- to 20 minutes away.
Now, its developer Damac has set the entry price tag for townhouses (4-bedroom units with a built-up of 2,208 square feet) from Dh2.25 million. The villas – with 6 bedrooms and built-up of 4,440 square feet – are priced at Dh6.3 million.
What the launch does, say property industry sources, is open up ‘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.”
There is also ‘Dubai Islands’ from Nakheel, while the Tilal Al Ghaf by Majid Al Futtaim will have two ‘island’ hubs. (In fact, some of the island homes at Tilal Al Ghaf have been hitting price records.)
In Umm Al Quwain, Sobha has just launched sales at the ‘Siniya Island’, with villa prices starting Dh10.5 million and apartments from Dh1.18 million. Ras Al Khaimah is having its own island moment, with the Al Marjan now hosting some of the most anticipated developments in the UAE, including the Wynn hotel.
Head over to Abu Dhabi, and there’s plenty more when it comes to new homes and islands. Aldar, at its recent Q3-24 financial results briefing, mentioned two new islands off Yas and Saadiyat being in the plans. Plus, there will also be more uber-luxe residential choices on Al Fahid Island, while new projects at the ongoing Saadiyat Island master-development keeping on-boarding new investors for Aldar.
What’s clear is that there is a full-scale ‘island’ renaissance in the UAE property market.
“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.
To drive home that message, Damac had high-wattage celebrities present, including Bollywood’s Amitabh Bachchan and Ranveer Singh, the boxing champ Amir Khan, and Lebanese actor Nadine Njeim.
Damac had in 2021 launched its Lagoons project, one of the first offplan ventures since 2020's Covid phase. It turned out to be one of the the biggest hits in the developer's portfolio, at a time when the Dubai property boom was just about to kickstart again.
"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."
As major developers - Emaar, Damac, etc. - continue to introduce high-end projects in the market, it would strengthen overall investor sentiment
