DAMAC Lagoons, DAMAC Properties’ latest luxury master development, has seen rapid progress since its launch in 2021. Spread across 45 million sqm and featuring more than 9,000 villas, this Mediterranean-inspired waterfront community is poised to redefine urban living in Dubai. With construction well underway, here’s a look at what the future holds for DAMAC Lagoons in the coming years.
Clusters at DAMAC Lagoons
The DAMAC Lagoons comprises eight main clusters, each with unique design and amenities. The clusters are:
Nice
This cluster draws its inspiration from the cities of the French Riviera, which are popular tourist destinations.
Santorini
The Santorini cluster will be the central hub of the DAMAC Lagoons community and will feature a variety of unique facilities and services.
Portofino
This cluster recreates the feel of the Italian Riviera, providing a unique combination of work and leisure opportunities in a serene atmosphere.
Costa Brava
This cluster embodies the charm of the Catalonia region in the heart of Dubai. It will be the adrenaline hub of the community and offer various exciting activities.
Andalusia
This cluster recreates the magic of Spain and will be the ladies’ hub of the community. It will feature dedicated fitness centers, spas, and salons for women.
Morocco
This cluster embodies the finest standards of calm and tranquility. It will be the tranquillity hub of DAMAC Lagoons, host family cabanas, and parks for yoga and meditation.
Venice
This cluster is the entertainment destination of the DAMAC Lagoons community and features a wide range of recreational facilities and amenities inspired by the romantic city.
Malta
This cluster will be the playing and learning hub of DAMAC Lagoons. It will host interactive and engaging services and facilities for children.
Completion of Phase 1 Villas
Phase 1 of the project involves the construction of 6,459 villas across 13 clusters. Over 20% of the works are already complete, with the first phase of villas expected to be ready for handover by late 2024 as planned. Remarkably, works on some clusters are ahead of schedule by 1 month. In addition, there are 1,432 villas (across 2 clusters) in the final stages of selecting a main contractor and 1,025 villas (across 2 clusters) in the final stages of design. More than 2,300 villas have already been built to the ground floor or higher.
Introduction of Amenities
Once complete villas start getting inhabited post-2024, DAMAC will focus on introducing a host of world-class amenities. These include an exclusive clubhouse, indoor and outdoor sports facilities, water sports areas, retail shops, and F&B outlets.
The floating amphitheater and wave pool are also slated to open. With a central focus on water-inspired features, the community will consist of 176,650 sq. m. of water spaces, an area larger than 141 Olympic-sized swimming pools. On completion, the community is expected to accommodate more than 39,400 people.
Additionally, It will include a regional mall covering 2 million square feet, slightly larger than the Mall of the Emirates. At the center will be a large D-shaped lazy river for entertainment. Property owners will have access to amenities across clusters, including ladies-only facilities and a Play & Learn Hub for children with sensory spaces, water attractions, outdoor art, and an augmented reality nature trail. learn new things through a sensory plaza, interactive water attractions, outdoor art exhibits, and an Augmented Reality (AR) nature trail.
Construction of Remaining Units
With a total gross floor area (GFA) of 2.3 million sq. m., the community will feature more than 9,000 villas. Work on the remaining villas will continue through 2026-2027 across multiple phases. More than 14,000 people work on the project daily, with over 100 excavators and more than 850 vehicles entering the site daily. This will ensure a steady stream of progress for investors and homeowners. Major infrastructure works will also wrap up during this time to serve the community.
Achieving LEED Certification
In alignment with DAMAC’s dedication to sustainability, the project is also pursuing LEED Gold certification to become the first master community in the UAE to receive this esteemed rating under the LEED Cities and Communities Rating System. The development incorporates green and sustainable features at every stage, from initial design to construction and future operation.
Property Handover and Official Launch
Once the project is fully completed by 2024, homeowners can expect to start moving into their dream villas across different clusters. An official launch ceremony will also be held, marking DAMAC Lagoons’ arrival as a landmark waterfront destination.
To date, the development has awarded more than AED 1 billion in infrastructure contracts and over AED 5.6 billion in villa construction contracts.
Steady Growth of Surrounding Areas
Its strategic location means DAMAC Lagoons will benefit from the steady growth of surrounding communities like DAMAC Hills and Sports City. New connectivity projects will further enhance accessibility. This will uplift property values within the project.
Economic Returns for Investors
As one of Dubai’s most ambitious waterfront initiatives, DAMAC Lagoons is anticipated to offer profitable investment returns for those who purchase properties early on:
Rental Demand: With facilities brought in phases, condo yields are estimated to range from 4-6% and increase to six-8% as soon as the mission is complete. A steady populace boom in Dubai will fuel sturdy tenant calls.
Capital Appreciation: Similar mega-developments in the metropolis have visible a 3-5X growth in off-plan fees over time. DAMAC Lagoons is projected to supply eight-10% yearly capital appreciation owing to its scale, region, and the rising prestige of the DAMAC brand. Hedging Against Inflation: Real estate remains one of the satisfactory hedges towards inflation. With inflation growing globally, DAMAC Lagoons provides a profitable investment to keep wealth long-term.
Boost to Dubai’s Economy
DAMAC Lagoons’ success can have spillover consequences on Dubai’s general boom possibilities:
Job Opportunities: Over 14,000 employees are currently hired on-site. Further stages will generate extra blue-collar jobs till the finishing touch.
Demand Stimulus: The inflow of prosperous citizens will force better spending on retail, dining, amusement, and different sectors.
Infrastructure Development: New roads, utilities, and delivery hyperlinks through the government to provide the network may even uplift development in nearby areas.
Tourism Potential: Its scale and sights should flip DAMAC Lagoons into a main traveller hotspot, complementing Dubai’s journey industry.
Notable Projects
DAMAC Lagoons is one of the most prestigious residential communities in Dubai. It offers an idyllic lifestyle surrounded by lakes, beaches, and parks. Some of the notable projects available in Damac Lagoons are:
DAMAC Lagoons Mykonos
Located in the prestigious Damac Lagoons community, DAMAC Lagoons Mykonos features Mediterranean-stimulated four & five-bedroom luxurious villas. Homes include private gardens, expansive terraces, and sea views. You can enjoy lagoon-facing infinity swimming pools, cycling tracks, water sports, and extra amenities. Villas are to be had from AED 2,470,000 with an 80:20 payment plan.
DAMAC Lagoons Morocco
This cluster introduces four & five-bedroom townhouses and big 6 & 7-bedroom villas. Units are perfectly designed for luxurious dwellings and come with spacious floorplans. Amenities include gyms, pools, parks, and dining shops. DAMAC Lagoons Morocco is to be had from AED 2,988,000 with an easy 80:20 fee plan, making it viable for buyers.
Monte Carlo at DAMAC Lagoons
Another Morocco cluster within the same community Monte Carlo At DAMAC Lagoons offers similar unit types, from townhouses to villas. Homes feature fantastic finishes and fittings. You can access the lagoon community’s sporting centres, entertainment regions, and water sports. Prices begin from AED 2,990,000.
Lagoon Views At DAMAC Lagoons
The latest launch features Spanish architecture-inspired 1 & 2-bedroom apartments located along the lagoon. Homes come with modern interiors, a gym, a pool, and parks. It will feature G + 6 Storey Towers. It’s available from AED 979,000 with a 70:30 easy payment plan.
All the developments offer convenient payment plans, direct sale prices without commissions, and quality infrastructure. Projects are well located, providing easy access to the community’s leisure areas and Dubai’s attractions. DAMAC Lagoons Views ensures an exclusive lifestyle and great investment returns for homeowners.
Conclusion
In short, DAMAC Lagoons will emerge as a landmark project that will stimulate Dubai’s real estate and economy for years to come while offering investors the opportunity to be part of a revolution in luxury waterfront living. Its strong product fundamentals and record of timely delivery indicate it will certainly achieve its ambitious vision.
If you need any information on the DAMAC Lagoons project, you can visit our website or Whatsapp us.
