Damac Islands: A Guide to Buying Luxury Waterfront Properties in Dubai

Dubai real estate takes pride in making exotic fantasies of luxury living a reality, miraculously! DAMAC Island Dubai is a glaring example. 



The 30 Million sq ft master-planned community comes themed as per the 6 iconic island destinations in the world. Luxury villas in DAMAC Island offered in uniquely themed clusters, each inspired in accordance with globally popular island destinations, will be your permanent living address. Isn’t it wonderful! The community features 6 clusters of luxury residences themed each as per Maldives, Bali, Bora Bora, Fiji and Seychelles. Why would you now fly to any of these tropical sensations when you can wake up everyday to sense it around your home?

DAMAC Properties, the renowned Dubai real estate maestro, crafted a scenic visual wonder with all high-end lifestyle luxuries for you. Waterfront properties in Dubai are in huge demand. DAMAC Island revolutionized the entire concept of beachfront living in Dubai positively with their brilliant dollar island-themed planning. 

Elite and high-net-worth property enthusiasts and investors find the community investment-worthy. 

For property buyers

Property at DAMAC Island is a possession of pride and scopes to share an exclusive luxury community only with their equivalents in the societal economic stature. The amenities and facilities are befitting their lifestyle and satisfy Dubai luxury living expectations. And, as the capital appreciation value of waterfront properties in Dubai is always higher, if ever they resale it will fetch them handsome amounts. 

For investors 

Who wouldn’t like to stay on rent in one of the luxury villas in DAMAC Island where freedom of privacy, luxury and open space is abundant? Plus, island-themed villa clusters are rare in Dubai with all the luxuries offered. Such an exotic island-styled villa community attracts only High-end tenants with less hassles. Such uber-luxurious beachfront properties in Dubai do not stay vacant longer. Market experts expect over 40% capital appreciation and around 8-10% rental yield for DAMAC Island. 

PS. Within 10 hours of its official launch, DAMAC Islands 4 and 5-bedroom townhouses and 6 and 7-bedroom villas were sold out! Do you doubt its investment potential? 

The Handover of Off-plan properties in Damac Islands is in 2029. Also, damac islands payment plan is 75/25 or 80/20 (it is variable). Damac Islands price is AED 2.25 MILLION. 

You can secure a mortgage now with a steady income, valid passport or similar identity-proof documents, and a good credit score. Even foreign buyers can borrow funds through bank loans up to 60% of the total property price. 

Contact a RERA registered and reliable real estate agent in Dubai, like APIL Properties, to buy properties in DAMAC Island. They have the knowledge and resources to guide you better to buy your preferred property at DAMAC Island locatiob. You can directly contact the DAMAC Properties team as well.

Decide whether Villa or a Townhouse in DAMAC Island will suit you and at which cluster amongst the 6 island-themed Clusters of residences). For your reference, check the offline properties in DAMAC Island-

1. 
2. Select the DAMAC Island cluster and the residential unit and pay the Booking Fee. It books the residential unit in your interest. This is not a Down Payment! Booking fee will be adjusted with the Down Payment afterwards!  
3. After you pay Booking Fees, you Sign the Booking Form or OTP (Offer to Purchase) that contains all the terms of sale.
4. 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. DAMAC Island has different down payment percentages set differently for its clusters. Hawaii has a 30% down payment for example. 
5. You will need to register a Sales Purchase Agreement or SPA with the Dubai Land Department (DLD). SPA is a legal document detailing about the seller, buyer, property, and agreement terms and conditions. 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. RERA real estate agents can do it for you. Also, the DAMAC Properties team can handle this for you. 
6. Pay, now, the Dubai Land Department fee of 4% of the property price to register the property in your name now. You will now get the OQOOD (contract for off-plan property purchase), declaring you the official owner now.
7. Now, wait patiently as the wonderful DAMAC Properties team build your dream house with the blessing of the Universe. . 
8. You have 4 years now to arrange for the remaining part of the purchasing amount. You can secure a mortgage now (60 % of the amount) if you want. 
9. Pay the remaining property price at DLD post Handover and hold the Key to your home on the luxury Island. Get the Title Deed.

If ever you feel writing the process is easier than actually going through the purchasing process of Luxury villas in Damac Islands, we wouldn’t argue otherwise. The APIL Properties team is here to help. Feel free to contact us.