Off-Plan Properties Damac Lagoons In Dubai

Last Updated on August 6, 2023 by Bram Vermolen

Off-plan properties are properties that are purchased before they are fully constructed or completed. Off-plan properties offer buyers the opportunity to secure a property at a lower price than the market value, as well as to customize the property according to their preferences. Off-plan properties also have the potential to appreciate in value over time, as the demand for the property increases and the supply decreases.

Off-plan properties can be a lucrative option for investors who want to benefit from capital appreciation, rental income, or resale profits. In this article, we will explore the off-plan property market in Damac Lagoons, one of the most dynamic and popular communities in Dubai.

About Damac Lagoons

Damac Lagoons is a new master community in Dubai, inspired by the Mediterranean. It is developed by Damac Properties, one of the leading real estate developers in the UAE. Damac Lagoons covers an area of 45 million square feet and features eight clusters of villas and townhouses, each representing a different Mediterranean city or country. The clusters are Santorini, Venice, Portofino, Nice, Costa Brava, Morocco, Malta and Andalusia. Each cluster has its own unique architectural style, color palette and amenities.

Damac Lagoons is surrounded by azure blue lagoons, white sandy beaches, tropical island vibes and other enchanting experiences. Some of the amenities and attractions include a wave pool, a lagoon zipline, snorkeling, a floating amphitheater, an exclusive clubhouse, waterside restaurants and cafes, a boutique retail area, a waterpark, a cinema, a spa and a gym. Damac Lagoons also offers a community school, a sports complex and various venues for entertainment and leisure.

Damac Lagoons is located in the Dubailand area, opposite to Damac Hills. It has easy access to four major highways and other networks that connect it to the city center and other landmarks of Dubai. Damac Lagoons is expected to be completed by 2026.

How Is The Dubai Damac Lagoons Real Estate Market?

The Dubai Damac Lagoons real estate market is dynamic and competitive, as it offers various types of properties for different budgets and preferences. The market is driven by the high demand for luxury waterfront living, the unique theme of the community, the strategic location of the project and the attractive payment plans offered by the developer.

The market is also influenced by the overall performance of the Dubai real estate market, which has been showing signs of recovery and growth in 2021. According to Bayut, Dubai’s leading property portal, the average sales price for villas in Dubai increased by 16.9% year-on-year in Q3 2021, while the average sales price for apartments increased by 7.5% year-on-year in Q3 2021. The average rental price for villas in Dubai increased by 9.8% year-on-year in Q3 2021, while the average rental price for apartments increased by 2.4% year-on-year in Q3 2021.

The Dubai Damac Lagoons real estate market is expected to continue to grow and attract more buyers and investors in the coming years, as the project nears completion and offers more value-added features and facilities.

How Is The Off-Plan Property Market In Damac Lagoons?

What Are The Benefits Of Off-Plan Property In Damac Lagoons?

Some of the benefits of off-plan property in Damac Lagoons are:

• Lower price: Off-plan property buyers can secure a property at a lower price than the market value, as they pay according to the current price at the time of booking. This can result in significant savings and capital appreciation over time.
• Flexible payment plans: Off-plan property buyers can benefit from flexible payment plans offered by the developer, which allow them to pay in installments over a period of time until completion or even after handover. This can ease their financial burden and make their investment more affordable.
• Customization options: Off-plan property buyers can have more choices and options to customize their property according to their preferences and needs. They can select their preferred unit type, size, layout, design, finishing and fittings.
• New and modern features: Off-plan property buyers can enjoy new and modern features and facilities that are designed according to the latest standards and trends. They can also benefit from warranties and guarantees offered by the developer for quality assurance.

What Are The Disadvantages Of Off-Plan Properties In Damac Lagoons?

Some of the disadvantages of off-plan properties in Damac Lagoons are:

• Delayed completion: Off-plan property buyers may face delays in completion or handover due to unforeseen circumstances or factors that are beyond the control of the developer. This can affect their plans and expectations and cause inconvenience and frustration.
• Lack of physical inspection: Off-plan property buyers may not be able to inspect the physical condition and quality of the property before buying, as they rely on the brochures, floor plans, mock-ups and showrooms provided by the developer. This can result in discrepancies or defects that may not be detected until after handover.
• Market fluctuations: Off-plan property buyers may be exposed to market fluctuations and risks that can affect the value and demand of their property. The market conditions may change over time and impact their return on investment or rental income.
• Legal issues: Off-plan property buyers may encounter legal issues or disputes with the developer or other parties involved in the transaction. They may also face challenges in obtaining the necessary approvals and permits from the authorities or transferring the title deed of the property.

What Is The ROI On Off-Plan Properties In Damac Lagoons?

The ROI on off-plan properties in Damac Lagoons depends on various factors, such as the type, size, location, price and demand of the property, as well as the market conditions and trends. However, based on the average prices and rents of similar properties in Dubai, we can estimate the ROI on off-plan properties in Damac Lagoons as follows:

Property Type	Average Price (AED)	Average Rent (AED per year)	ROI (%)
Studio	400,000	30,000	7.5%
1-bedroom apartment	600,000	45,000	7.5%
2-bedroom apartment	900,000	65,000	7.2%
3-bedroom apartment	1,200,000	85,000	7.1%
Villa (3-bedroom)	2,000,000	140,000	7%
Villa (4-bedroom)	2,500,000	160,000	6.4%
Villa (5-bedroom)	3,000,000	180,000	6%

The data is sourced from Bayut and Property Finder, leading real estate portals in the UAE. The ROI is calculated by dividing the annual rent by the price of the property and multiplying by 100%. The ROI is an estimate and may vary depending on the actual price and rent of the property.

Why Is Damac Lagoons Off-Plan Property Interesting For Real Estate Developers?

Damac Lagoons off-plan property is interesting for real estate developers because:

• It showcases their vision and creativity: Damac Lagoons off-plan property allows real estate developers to showcase their vision and creativity in creating a unique and innovative community that is inspired by the Mediterranean. They can demonstrate their expertise and skills in designing and delivering high-quality properties that cater to the needs and preferences of their customers.
• It generates cash flow and reduces risk: Damac Lagoons off-plan property enables real estate developers to generate cash flow and reduce risk by selling their properties before they are completed or handed over. They can use the funds collected from the buyers to finance their construction costs and expenses. They can also minimize their exposure to market fluctuations and uncertainties by locking in their prices and profits at an early stage.
• It builds their reputation and brand awareness: Damac Lagoons off-plan property helps real estate developers to build their reputation and brand awareness in the market by offering a distinctive and attractive product that appeals to a wide range of buyers and investors. They can also benefit from word-of-mouth marketing and referrals from their satisfied customers. They can also leverage their partnership with DAMAC Properties, one of the leading real estate developers in the UAE.

Why Is Damac Lagoons Off-Plan Property Interesting For Real Estate Investors?

Damac Lagoons off-plan property is interesting for real estate investors because:

• It offers high returns and capital appreciation: Damac Lagoons off-plan property offers high returns and capital appreciation for real estate investors, as they can buy a property at a lower price than the market value and sell it at a higher price when the project is completed or handed over. They can also benefit from the rental income generated by their property, as the demand for luxury waterfront living is high in Dubai.
• It provides flexible and attractive payment plans: Damac Lagoons off-plan property provides flexible and attractive payment plans for real estate investors, as they can pay in installments over a period of time until completion or even after handover. They can also choose from different payment structure options, such as post-handover, post-completion or rent-to-own. This can make their investment more affordable and convenient.
• It diversifies their portfolio and reduces risk: Damac Lagoons off-plan property diversifies their portfolio and reduces risk for real estate investors, as they can invest in a unique and innovative community that is inspired by the Mediterranean. They can also invest in different types of properties, such as villas, townhouses or apartments. They can also hedge against market fluctuations and uncertainties by locking in their prices and profits at an early stage.

Why Is Damac Lagoons Off-Plan Property Interesting For Off-Plan Buyers?

Damac Lagoons off-plan property is interesting for off-plan buyers because:

• It fulfills their dream of luxury waterfront living: Damac Lagoons off-plan property fulfills their dream of luxury waterfront living for off-plan buyers, as they can own a property in a new master community that is inspired by the Mediterranean. They can enjoy the azure blue lagoons, white sandy beaches, tropical island vibes and other enchanting experiences that Damac Lagoons offers. They can also access the excellent amenities and facilities that the community provides.
• It matches their preferences and needs: Damac Lagoons off-plan property matches their preferences and needs for off-plan buyers, as they can choose their preferred unit type, size, layout, design, finishing and fittings. They can also customize their property according to their taste and style. They can also select their preferred cluster that represents a different Mediterranean city or country.
• It enhances their lifestyle and well-being: Damac Lagoons off-plan property enhances their lifestyle and well-being for off-plan buyers, as they can live in a community that offers a healthy and balanced environment. They can also engage in various outdoor activities, fitness and beauty options that the community offers. They can also socialize with other like-minded residents and visitors who share their passion for the Mediterranean.

What To Consider When Buying Off-Plan Properties in Dubai Damac Lagoons?

1. Developer reputation

One of the most important factors to consider when buying off-plan properties in Dubai Damac Lagoons is the reputation of the developer. The developer is responsible for delivering the project on time, on budget and on quality. Therefore, it is essential to check the developer’s track record, credentials, experience and customer feedback before making a decision. Damac Properties is one of the leading real estate developers in the UAE, with over 20 years of experience and more than 30,000 units delivered across the region. Damac Properties has won several awards and accolades for its excellence and innovation in the industry.

2. Project location

Another important factor to consider when buying off-plan properties in Dubai Damac Lagoons is the location of the project. The location determines the accessibility, connectivity, convenience and value of the property. Therefore, it is advisable to check the proximity of the project to major highways and other networks that connect it to the city center and other landmarks of Dubai. Damac Lagoons is located in the Dubailand area, opposite to Damac Hills. It has easy access to four major highways: Sheikh Mohammed Bin Zayed Road, Al Khail Road, Emirates Road and Umm Suqeim Road. It is also close to other attractions such as Dubai Miracle Garden, Global Village and IMG Worlds of Adventure.

3. Payment plans

A third important factor to consider when buying off-plan properties in Dubai Damac Lagoons is the payment plans offered by the developer. The payment plans determine the affordability and convenience of the investment. Therefore, it is wise to compare the different payment plans available and choose the one that suits the budget and cash flow of the buyer. Damac Properties offers flexible and attractive payment plans for off-plan properties in Damac Lagoons.

4. Payment structure options

A fourth important factor to consider when buying off-plan properties in Dubai Damac Lagoons is the payment structure options offered by the developer. The payment structure options determine the type and amount of fees and charges that are applicable to the transaction. Therefore, it is prudent to check the different payment structure options available and choose the one that minimizes the cost and maximizes the benefit of the investment.

5. Due diligence

A fifth important factor to consider when buying off-plan properties in Dubai Damac Lagoons is the due diligence that is required to verify the validity and viability of the project. The due diligence involves checking the legal, financial and technical aspects of the project.

6. Property tax

A sixth important factor to consider when buying off-plan properties in Dubai Damac Lagoons is the property tax that is applicable to the transaction. The property tax involves paying fees and charges to the authorities and other parties involved in the transaction.

Community Overview Of Damac Lagoons

What Are The Most Popular Buildings In Damac Lagoons?

Damac Lagoons is a new master community in Dubai that consists of eight clusters of villas and townhouses, each representing a different Mediterranean city or country. Some of the most popular buildings in Damac Lagoons are:

• Mykonos: This is a cluster of townhouses that features the Greek island style of white and blue colors, domed roofs and wooden shutters. It also has a private beach, a marina and a clubhouse.
• Venice: This is a cluster of villas and townhouses that features the Italian city style of red and yellow colors, arched windows and balconies. It also has a canal, a bridge and a piazza.
• Portofino: This is a cluster of villas and townhouses that features the Italian coastal town style of pastel colors, tiled roofs and terraces. It also has a lighthouse, a harbor and a park.

Which Transportation And Parking Spaces Are There In Damac Lagoons?

Damac Lagoons is well-connected to the rest of the city by road networks such as Sheikh Mohammed Bin Zayed Road, Al Khail Road, Emirates Road and Umm Suqeim Road. It is also accessible by public transportation such as buses and taxis. However, there is no metro station in Damac Lagoons yet.

Damac Lagoons has ample parking spaces for its residents and visitors. Each villa and townhouse has its own dedicated parking area, while the community also has public parking spaces available near the amenities and attractions.

Which Amenities, Schools And Healthcare Are There In Damac Lagoons?

Damac Lagoons has a range of amenities for its residents and visitors, such as:

• Shopping: There is a boutique retail area in Damac Lagoons that offers a variety of shops, cafes and restaurants. There is also a supermarket that provides grocery and household items.
• Schools: There is a community school in Damac Lagoons that offers the British curriculum from Foundation Stage to Year 13. It has over 2,000 students and 150 staff members. It also has state-of-the-art facilities such as sports fields, swimming pools, auditoriums and laboratories.
• Healthcare: There is a clinic in Damac Lagoons that offers basic medical services such as consultations, prescriptions, vaccinations and referrals. There is also a pharmacy that offers medicines and supplements.

Which Outdoor Activities, Fitness And Beauty Are There In Damac Lagoons?

Damac Lagoons has many options for outdoor activities, fitness and beauty, such as:

• Sports: Damac Lagoons has a sports complex that offers various facilities and services such as tennis courts, basketball courts, football pitches, cricket nets, squash courts, badminton courts and table tennis tables. It also has a sports academy that offers coaching and training in different sports.
• Fitness: Damac Lagoons has a gym that offers various equipment and machines for cardio, strength and resistance training. It also has a spa that offers various treatments and therapies such as massages, facials, scrubs and wraps.
• Beauty: Damac Lagoons has a salon that offers various services such as haircuts, styling, coloring, extensions, nails, waxing, threading and makeup. It also has a barber shop that offers services such as shaving, trimming, grooming and styling.

Which Leisure Activities And Notable Landmarks Are There In Damac Lagoons?

Damac Lagoons has many leisure activities and notable landmarks for its residents and visitors, such as:

• Lagoon Zipline: This is an adrenaline-pumping activity that allows the participants to zip across the azure blue lagoon at high speed. It also offers stunning views of the community and the surrounding landscape.
• Floating Cinema: This is an innovative attraction that allows the viewers to watch movies on a giant screen while floating on inflatable boats or loungers on the lagoon. It also offers popcorn, drinks and snacks.
• Wave Pool: This is a fun-filled attraction that allows the swimmers to enjoy artificial waves that simulate the ocean. It also offers sunbeds, umbrellas and towels.

Which Restaurants Are Located In Damac Lagoons?

Damac Lagoons has a variety of restaurants that offer different cuisines and dishes for its residents and visitors. Some of the popular ones are:

• Olive Garden: This is a Mediterranean restaurant that serves authentic dishes such as salads, soups, pasta, pizza and desserts. It also has a terrace overlooking the lagoon.
• La Piazza: This is an Italian restaurant that serves classic dishes such as antipasti, risotto, lasagna, gnocchi and tiramisu. It also has a canal-side seating area.
• Taj Mahal: This is an Indian restaurant that serves spicy dishes such as curries, biryanis, tandoori, naan and lassi. It also has a bridge-side seating area.

Which Supermarkets Are Located In Damac Lagoons?

Damac Lagoons has one supermarket that provides grocery and household items for its residents and visitors. It is called:

• Carrefour: This is a hypermarket that offers a wide range of products such as fresh food, bakery, dairy, meat, fish, frozen food, beverages, snacks, health and beauty, household and electronics. It is located in the boutique retail area.

Which Beaches Are Located Near Damac Lagoons?

Damac Lagoons is not very close to the coast, but there are some beaches that are located within a 30-minute drive from it. Some of the popular ones are:

• Jumeirah Beach Park: This is a public beach park that offers a sandy beach with lifeguards, showers, changing rooms and sunbeds. It also has a park with grassy areas, trees, benches and playgrounds.
• Kite Beach: This is a public beach that offers a sandy beach with lifeguards, showers, changing rooms and sunbeds. It also has a water sports centre that offers activities such as kite surfing, stand-up paddle boarding and kayaking.JBR Beach: This is a public beach that offers a sandy beach with lifeguards, showers, changing rooms and sunbeds. It also has a promenade with shops, cafes, restaurants and entertainment venues.

Which Malls Are Located Near Damac Lagoons?

Damac Lagoons is not very far from some of the major malls in Dubai, but there are some malls that are located within a 15-minute drive from it. Some of the popular ones are:

• Mall of the Emirates: This is one of the largest and most famous malls in Dubai, with over 700 retail outlets, a cinema, a ski resort, an aquarium, a theatre and a hotel. It also has a variety of dining options, from fast food to fine dining.
• City Centre Me’aisem: This is a community-oriented mall that offers a range of products and services, such as fashion, electronics, home furnishings, beauty, health, banking and education. It also has a hypermarket, a cinema, a food court and a family entertainment centre.
• Arabian Ranches Souk: This is a traditional-style mall that offers a mix of local and international brands, such as fashion, jewellery, accessories, home decor, books and gifts. It also has a supermarket, a pharmacy, a salon and a cafe.

Which Churches, Temples And Mosques Are Located Near Damac Lagoons?

Damac Lagoons is not very close to any churches or temples, but there are some mosques that are located within or near the community. Some of the popular ones are:

• Masjid Al Quba: This is the main mosque in Damac Lagoons, located in Portofino cluster. It is a large and modern mosque that can accommodate up to 2,000 worshippers. It also has a library, a lecture hall and a cafeteria.
• Masjid Al Waha: This is another mosque in Damac Lagoons, located in Santorini cluster. It is a smaller and simpler mosque that can accommodate up to 500 worshippers. It also has a parking area and a washroom.
• Masjid Al Rahman: This is a mosque near Damac Lagoons, located in Arabian Ranches. It is a medium-sized and elegant mosque that can accommodate up to 1,000 worshippers. It also has a garden, a fountain and a minaret.

How Is The Rental Market In Damac Lagoons?

Rental Trends Of Damac Lagoons

The rental market in Damac Lagoons is dynamic and diverse, as it offers various types of properties for different budgets and preferences. The rental trends of Damac Lagoons are as follows:

Property Type	Average Rent (AED per year)	Rent Change (%)
Townhouse (2-bedroom)	80,000	-10%
Townhouse (3-bedroom)	100,000	-8%
Villa (3-bedroom)	120,000	-6%
Villa (4-bedroom)	140,000	-4%
Villa (5-bedroom)	160,000	-2%

The rent change (%) is based on the comparison between the average rent in 2022 and 2023. The data is sourced from [Bayut] and [Property Finder], leading real estate portals in the UAE .

How Is The House Sale Market In Damac Lagoons?

House Sale Trends Of Damac Lagoons

The house sale market in Damac Lagoons is attractive and competitive, as it offers various types of properties for different budgets and preferences. The house sale trends of Damac Lagoons are as follows:

Property Type	Average Price (AED)	Price Change (%)
Townhouse (2-bedroom)	1,200,000	+5%
Townhouse (3-bedroom)	1,500,000	+6%
Villa (3-bedroom)	1,800,000	+7%
Villa (4-bedroom)	2,100,000	+8%
Villa (5-bedroom)	2,400,000	+9%

The price change (%) is based on the comparison between the average price in 2022 and 2023. The data is sourced from Bayut and Property Finder, leading real estate portals in the UAE .

Frequently asked questions about Damac Lagoons?

Damac Lagoons is a community that offers a unique opportunity to experience the natural and urban aspects of Dubai. Here are some of the frequently asked questions about Damac Lagoons and their answers.