A Step-by-Step Guide to Buying Property in DAMAC Islands

The Prestige

Enjoying the pride and prestige of owning a luxury unit inside an exotic and elite one-of-a-kind waterfront community in Dubai.

Exotic Island Lifestyle 

Having a scope to experience and indulge in island-lifestyle, typical in Maldives, Hawaii, Bali or Fiji to name a few. You need not wait for your vacation at these places, you wake up everyday to such serene tropical surroundings. 

Green Island amidst Desert!

Being on an island, enriched in natural resources and man-made luxuries both, amidst the desert of Dubai. 

High Property Appreciation Value 

As you are tempted to buy a villa or townhouse of your own here soon after it got launched, others also are waiting for Opportunities to grab the key when it should arise. It means if ever you try to resell it They Will Be Ready To Pay A Handsome Value You Will Be Happier to accept. In brief, the capital appreciation value of any residential unit at DAMAC Island is estimated to increase impressively. Not to forget, Damac Islands price is competitive!

High Rental Yield

There are also those high-income professionals who might not be planning to buy but, stay on rent in a luxury property at such an exotic island-themed waterfront community. As a landlord or landlady, expect to receive a high rental value for your property in DAMAC Island. Investors need not worry a bit, as their source of income through properties at this waterfront development in Dubai will always be higher, whether they resale or rent. 

Ease of Payment 

DAMAC island payment plan of either 75/20 or 80/20 is very convenient and let's you own a home without any hassle. The flexible payment plan makes it easier for potential buyers to plan their budget and financial options with greater efficiency. 

Peaceful Abode of Luxuries

Owning a property here in DAMAC Island means having a place of your own away from the chaos of Dubai city which never seems to calm down and stay inactive. This 300 square feet of blue (30% made of natural waterbodies) and green (60% of lush greenery) paradise guarantees tranquility and pure bliss in a soothingly peaceful environment. 

Amenities

From large villas and townhouses built most attractively with functional designs (expansive windows, open-plan layout) to arrays of recreational and luxury-living amenities and conveniences, DAMAC Island masterplan one-of-a-kind waterfront living experience. 

DAMAC Islands community is built by DAMAC Properties, the renowned real estate developer in Dubai. They take no pride in fooling themselves and damag8ng their reputation by cancelling the delivery of properties under any circumstances. 

During Covid also they were one of those few developers who openly discussed the situation of their project deliverables and did handover as much as possible with an extended period of time that had clearly mentioned to their clients. They are trustworthy. 

Reputation of the property developer is crucial factor to focus on, Always. 

1. Contact a RERA registered and reliable real estate agent in Dubai, like APIL Properties. Professional real estate agents stay familiar with different types and deals of residential and commercial properties at various location or developments across Dubai and around. They are equipped with knowledge and resources to guide you better to buy your preferred property at your desired destination. 
2. You can directly contact the DAMAC Properties team as well. But, Remember it-> Dealing directly with the Real Estate Developer will get you No Special Discount. Nobody can. Real estate agents can help you get good deals like some added services or some favours of some kind BUT NO DISCOUNT! 
3. Discuss with your appointed real estate agency team to know whether Villa or a Townhouse in DAMAC Island will suit you or at which cluster you must make a purchase (there are 6 island-themed Clusters of residences). Experts can help you make the best selection.  
4. After the selection and you give the green signal of going ahead, you need to pay the Booking Fee. You show your intention to buy and inform the developer that specific unit is not to be shown to others. This is not a Down Payment! Booking fee you pay now will be adjusted with the Down Payment amount you pay afterwards!  
5. After you pay Booking Fees, you Sign the Booking Form or OTP (Offer to Purchase) that details all the terms of sale. 
6. Now, you Pay the down payment (20% or 25% of the property purchasing price of the villa/townhouse in DAMAC Island) to the real estate developer’s escrow account. Your money is safe not because DAMAC is reliable, but because this amount no developer can ever withdraw from the Escrow account until the property is Handover. So, relax!
7. Your appointed real estate agent will now register a Sales Purchase Agreement or SPA with the Dubai Land Department (DLD). SPA is a legal document where one finds the details on seller, buyer, property, and agreement terms and conditions. You need to sign the document. If you are residing abroad and wish to not be in Dubai for the process, give e-signature to the soft copies of the agreement sent to you online. 
8. At this stage, you need to pay a Dubai Land Department fee of 4% of the property price. This fee and process registers the property in your name now. Your agent will now get the OQOOD (contract for off-plan property purchase). You are the official owner now.
9. Now, wait patiently and happily as your dream house is being built, under the divine grace, by the wonderful builders of the DAMAC Properties. 
10. The DAMAC Island properties Handover is in 2029 and payment plan is 75/25. Starting Price of DAMAC properties here is AED 2.25 MILLION. So, you have 4 years now to arrange for the remaining part of the purchasing amount. You can secure a mortgage now with a steady income, valid passport or similar identity-proof documents and a good credit score. You can borrow (foreign buyers can) funds through bank loans up to 60% of the total property price. 
11. Pay the remaining 20% or 25% of the property price at DLD post Handover and happily hold the Key to your place on the luxury Island you can call Home. Get the Title Deed and CONGRATULATIONS.

The detailed information given here explains to you the major advantages of buying a property in DAMAC ISLAND and How to buy it. We can understand that still now some doubts and queries might crowd your mind. You can declutter your mind and effortlessly step ahead with finalizing your dream property in DAMAC ISLAND by talking to us.

Our team will clear your doubts, and remember, talking to us doesn't mean you have to secure your property only through us. You are free to decide your way to DAMAC ISLAND!