Dubai's Damac launches biggest ever project

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Hussain Sajwani, chairman of Damac Properties.

Hussain Sajwani, chairman of Damac Properties.

Dubai-based Damac Properties on Tuesday announced its largest ever project, which it says will be the most luxurious golf community in Asia.

The 29 million sq ft master development will be build off Umm Sequim Road in Dubai and feature an 18-hole PGA Championship Golf Course surrounded by mansions, villas, townhouses and luxurious apartments.

It will also include a spa, boutique hotels and international schools from kindergarten to secondary, as well as globally-recognised retail brands, leisure and entertainment offerings and a sports complex.

The development, to be named Akoya by Damac after one of the most exclusive pearls in the world, will create a “thriving living environment” for residents and travellers.

Damac said it would be designed with distinctive architecture, lush landscaping and “unrivalled five-star service in every element of the luxury living environment”.

The development will be Damac’s largest project by size and scale, making the 11-year-old company the largest luxury developer in the Middle East, and further confirming the stabilisation in the Dubai real estate market, which crashed in 2008-09.

“We aim to make Akoya by Damac the most desirable living environment in Dubai for aspirational professionals who recognise ultimate luxury,” Damac Properties chairman Hussein Sajwani said.

“The development will bring a blend of high-end, five-star living, with unrivalled facilities and create a haven for families looking to make Dubai their home.”

He added: “We are in advanced discussions with a number of leading global brands to make ‘Akoya by Damac’ the most sought-after area in Dubai.”

The land already has been bought from Dubailand but no timeline for construction has been announced.

Damac also is developing the $1bn Damac Towers by Paramount in conjunction with the famous production company.

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Posted by: Mohammad

This is another marketing ploy by Damac that will take years if not a decade or more to complete while receiving money from investors.. We have seen what Damac does. Highest prices one can purchase in Dubai and worst in design and construction quality. One only needs to visit some of the buildings they have completed. Check out The Wave in Dubai Marina. Check their so called best project Ocean Height in the same area. They look great from the outside. Layouts are useless. Cheapest of the materials are used and people who bought are continually spending hard earned money to fix terrible workmanship. This is living the luxury. Damac have successfully made glitzy ads and have been yelling from the rooftops that they are a luxury developer where in reality are bad at building buildings, extremely late in delivery and not customer friendly at all. Buyers be aware!.

Posted by: desert dream

Whats going on here?! Everyday there seems to be million dollar launches, glitzy parties, and brokers having a gala time. It looks like the wonder years of 2006,2007 are back - get ready to become millionaires all over again and be ready to book that porsche !

Posted by: stephen

How much are you paid to deliver these messages? I just know there are more interesting, more newsworthy, more enlightening stories than this same old twaddle.

Posted by: Red Snappa

Exactly where on Umm Suqeim Road might this be placed, it looks pretty crowded up there already to me. Is this a punt at the Dubai Pearl project up near Media City, which is still trundling along, I suppose, ready when?

Alas, this is all too much too soon, developers ignored the perils of overbuilding last time round! Bear in mind there are still hundreds of projects from the last property catastrophe, that may well be reinstated to add to the brand spanking new, pumping up the housing stock volumes.

Posted by: Anonymous

Ok....um....has anyone noticed the extremely SLOW construction of the Damac buildings in Business Bay??? Is there a plan to complete these eyesores in the near future or will those buyers be left hanging as Damac moves on to its glitzy Paramount building and now this new project?

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