Damac Lagoons, the newest luxury master development offering Dubai properties created by DAMAC, was launched in 2021 and is experiencing a relatively fast-paced growth. Located on an area of 45 million square meters and containing more than 9 thousand villas, this compound on the seashore in Mediterranean style is expected to change the concept of the living areas in Dubai.
Read more: Here’s What We Can Expect From The DAMAC Lagoons In Coming YearsAs the construction progress is going on, here is the general perspective of what to expect in the coming years in Damac Lagoonss.
Construction Of The Phase One Villas
Total of 6,459 villas are planned in the first phase of the project that will be developed in 13 clusters. More than 20 percent of the works have been done, while the first phase of villas should be handed over by the end of 2024 as envisaged. Suffice to say, in some clusters, the works are even one month ahead of schedule. Also, there are 1,432 villas (spread over two clusters) still in the process of main contractor selection and 1,025 villas (in two clusters) still in the design selection process. Currently, well over 2,300 villas have been completed to at least the ground floor or are under construction.
Introduction Of Amenities Of Damac Lagoons
Once the essence of villas is formally built, after the year 2024, people will start occupying them and in parallel; DAMAC will formally come up with a lot of innovative solutions in the sphere of comfort, which are comparable to world-class standards. These include a clubhouse, indoor and outdoor games facilities and equipment, water sports facilities and equipment, mini-market and restaurants.
There will also be a floating amphitheatre and wave pool also to be inaugurated. With the main theme based upon water, the community structure will include 176,650 square feet. Thus, the m. of water spaces indicates an area that is bigger than 141 Olympic-sized swimming pools. Upon completion, the community is expected to effectively host over 39,400 individuals.
● Furthermore, It will also entail a regional Mall which would comprise of 2 million square feet of shopping mall size roughly similar to the Mall of the Emirates.
● At the center of the park there is going to be a large D shaped lazy river for amusement.
● Residents within the clusters will be able to use all the comforts such as ladies only facilities and the Play & Learn facility which includes specially designed water features, outdoor art, and an augmented reality nature trail for children with sensory integration issues. Introduce new knowledge with the help of a sensory plaza, an aqua zone, open-air paintings, as well as an AR nature trail.
Construction Of Remaining Units
The total GFA of the building is 2.3 million sq. , the community has the initial plan of having over 9,000 units of villa. Renovation work of the other villas will continue up to 2026-2027 in different phases. Altogether, over 14,000 employees contribute to the project daily, and more than 100 excavators and more than 850 automobiles get to the building site daily. This will mean a steady flow of progress for the investors as well as the homeowners. Large infrastructure projects will also be completed during this period most of which are to be provided for the community.
Achieving LEED Certification
As with most of the current project developments of DAMAC, the soon-to-rise master community is also aiming for LEED Gold certification to be the first master community in the UAE that would be given LEED Cities and Communities Rating System accreditation. In other words, it makes the use of green and sustainable elements in every construction process, from the architectural design of the development to the construction process proper and the long-term management of the developed facilities.
Property Handover And The Official Launch
When all the construction phases are complete by the year 2024, people can look forward to occupying the various clusters of beautiful villas to their desired living standards. There will also be an official opening event of the community and its recognition as a unique Damac Lagoons waterfront.
● So far, the development has signed more than AED 1 billion worth of infrastructure contracts and more than AED 5.
● Villa construction contracts worth 6 billion US dollars have been signed.
● This makes Damac Lagoonss to have a steady growth of the communities around it like the DAMAC Hills as well as the Sports City and also buy property in Dubai.
● New connection projects are still in development to add to the access to the area.
● This will also help in raising property for rent in Dubai values within the project.
Rental Demand Of Damac Lagoons
Given such circumstances, condo yields are believed to be in between 4-6% relying on the phases of facilities acquired and supplied, and it can rise to the extent of between 6-8% once the mission is delivered. Frequent population growth in Dubai will drive healthy tenancy demand.
Boost To Dubai’s Economy
Damac Lagoonss’ success can have spillover consequences on Dubai’s general boom possibilities:
● Job Opportunities: Today, more than 14 thousand employees are recruited at the company’s facilities. Subsequent phases will create more blue-collar employment until the very end.
● Demand Stimulus: This way, the arrival of wealthy inhabitants will pressure higher expenditure on retail, eating places, leisure, and other segments.
● Infrastructure Development: New roads utilities and delivery hyperlinks through the government to provide the network may even uplift development in the near areas.
● Tourism Potential: It could also prove instrumental, in altering the facility recognizability and attractiveness of Damac Lagoons, to Dubai’s journey sector.
Notable Projects
Damac Lagoons is among the best developed residential compounds in the Dubai Emirate. It provides a laid back living environment characterized by lakes, beaches, and parks.
Damac Lagoonss Mykonos
Within the elite populated Damac Lagoons, there is Damac Lagoonss Mykonos with Mediterranean inspired four & five bedroom opulent villas. Interests are private gardens, large terraces, and the sea. You can indulge in lagoon view and surfaced swimming pools, cycling tracks, water activities, as well as much more facilities. Villas are starting from AED 2,470,000; the advantage is the 80/20 payment structure.
Conclusion
Damac Lagoons will develop as a landmark project which will effectively boost demand of real estate brokers in Dubai and economy of Dubai in the following years and give investors a chance to be a part of a revolution in luxury living fronting water bodies. Indeed, it has all the strings pulled in the right directions; a robust line of products, social responsibilities and an impressive record of timeous delivery; it is sure to realize its exceptional vision statement.
