Dubai-based private developer Damac Properties has launched a groundbreaking project, Damac Lagoon Views, which will be sold exclusively by Emirati brokers. This initiative is a collaboration with the Dubai Land Department (DLD) to support and recognize the contributions of Emirati realty brokers in the UAE community.
Project Details and Special Offers
The Damac Lagoon Views project is the first in the UAE dedicated entirely to Emirati licensed brokers, allowing them to sell units to both residents and foreign investors. UAE nationals will receive a 10% discount when purchasing units, while Emirati brokers will earn a 6% flat commission on sales.
Amira Sajwani, Managing Director of Sales and Development at Damac, stated, “UAE nationals play a crucial role in the nation’s real estate brokerage community. The Damac Lagoon Views apartments are a testament to delivering unparalleled luxury and quality, and we are excited to have showcased this project for this occasion.”
Pricing and Market Trends
Prices for Damac Lagoon Views start at AED 1.143 million for a one-bedroom apartment and go up to AED 1.944 million for a two-bedroom apartment.
The developer introduced the project to around 300 Emirati brokers during an event they organized last week in Dubai. This initiative comes at a time when the demand for residential and commercial properties in Dubai is soaring, resulting in a significant increase in the number of real estate brokers.
VVS Estate predicts that Dubai will issue approximately 10,000 new real estate broker licenses in 2024, up significantly from the 5,000 licenses issued in 2018. This surge is a testament to the influx of investors and the booming real estate market in Dubai.
Industry Insights
Valentina Rusu, Founder and Managing Partner of VVS Estate, commented, “The significant increase in broker licenses highlights the vibrant and expanding nature of Dubai’s real estate market. More individuals are eager to join the industry as professional brokers, emphasizing the need for formal training and certification to uphold high standards within the profession.”
Conclusion
The launch of Damac Lagoon Views represents a significant milestone in the UAE’s real estate market, recognizing and empowering Emirati brokers. This exclusive project underscores Damac Properties’ commitment to supporting the local community while offering luxurious living options to a diverse clientele.
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