DAMAC Properties is actively involved in over 20 off-plan residential projects in Dubai, showcasing its commitment to shaping the real estate landscape. One prominent project is DAMAC Hills 2, formerly known as Akoya, featuring ongoing construction of properties like Victoria, Aquilegia, Fiora, Amora, and Just Cavalli Villas. Additionally, DAMAC Hills 2, which houses the Trump International Golf Club, is witnessing the development of properties like Kiara, Carson, and The Trump Estates 3.

One standout project is Just Cavalli Villas, offering standalone 3BR villas and townhouses designed by the renowned Roberto Cavalli. These branded residences boast stunning waterfront views, equipped with kitchen appliances, walk-in closets, and built-in wardrobes. Set in DAMAC Hills, surrounded by lush greenery, Just Cavalli Villas provide access to amenities such as a fitness club and a luxurious spa. The premium development is set for completion in Q4 2021, with 3BR townhouses starting at AED 1,105,000 (USD 301,000) and 3BR villas at AED 1,100,000 (USD 300,000).

Greenwoods, DAMAC’s latest residential development launched in May 2021, comprises a single row of 48 upscale villas with three and four bedrooms in DAMAC Hills. These unfurnished residences offer customization opportunities and grant access to amenities like a golf course, swimming pool, children’s play area, and retail facilities. A unique feature of Greenwoods villas is a starry façade with embedded glittering LEDs. The starting price for these luxury residences is AED 1,688,000 (USD 460,000).

Fiora at DAMAC Hills 2 is a premium residential complex with two towers, offering a variety of studios and 1, 2, and 3-bedroom apartments. Residents will enjoy proximity to amenities such as a supermarket, gym, Malibu-style beach, wave surfing, football field, running track, go-karting circuit, amphitheater, and stables. The starting price for Fiora residences is AED 300,000 (USD 82,000).

Despite facing challenges in 2020 due to the global pandemic, DAMAC Properties remains a significant player in the real estate market. The company reported losses of more than AED 1 billion (USD 272 million), with total revenues of AED 4.7 billion (USD 1.3 billion). Booked sales dropped to AED 2.3 billion (USD 626 million) from AED 3.1 billion (USD 844 million) in 2019. Founder Hussain Sajwani acknowledged the challenges posed by the global economy and the impact on travel and tourism. While the real estate sector may take 1-2 years to fully recover, DAMAC Properties, known for recovering swiftly after the 2008 financial crisis, remains well-positioned with a commitment to timely project completion and strategic location choices. The company’s financial management strategy of using installment payments from property sales to cover construction costs contributes to the security and risk-free nature of investments.