According to data from DLD, the community has consistently seen an increase in the appreciation of capital values for villa configurations, with seven clusters experiencing double-digit growth between 2021 and 2023.
The villa property type, ready for immediate occupancy, stood out as the most coveted within the community, showing a remarkable 22% growth in 2023 compared to 2021. Since its establishment, the end-user community has witnessed a total sale of 11,806 units, with significant secondary transactions indicating the community’s maturity and encouraging investors to retain units for higher rental returns.
Off-plan apartments in DAMAC Hills 2 witnessed a strong price growth of 16% per square foot from 2021 to the end of 2023, as reported by data from the Dubai Land Department (DLD). This data underscores the community’s status as one of the most sought-after in the UAE.
Covering an expansive 55 million square feet, DAMAC Hills 2, developed by the leading developer DAMAC Properties, offers a unique living experience in Dubai, blending relaxation, recreation, and natural beauty for residents and visitors alike. The community’s popularity is evidenced by the sale of 11,806 units, highlighting its enduring appeal among property seekers.
A notable sign of DAMAC Hills 2’s development as a mature end-user community is the rise in secondary market transactions. Over the past three years, nearly 1,700 units have been sold in the secondary market, demonstrating strong demand for villas within the community. Additionally, the growing rental market in the community reflects investors’ confidence in DAMAC Hills 2 properties, which currently accommodate over 30,000 residents.
The dominance of villa properties in DAMAC Hills 2 remains evident, with a remarkable 22% growth observed from 2021 to 2023. Notably, seven clusters within the community have seen double-digit increases in capital value over the past two years, indicating steady growth and demand. Among these, the Aquilegia cluster, offering 3 and 6-bedroom configurations, stands out as a prime example of sought-after villa units.
High-net-worth individuals are particularly attracted to the spacious homes in DAMAC Hills 2, with 6-bedroom villas emerging as the most sought-after rental properties, closely followed by 3-bedroom villas. Similarly, 2-bedroom apartments have garnered significant attention, experiencing an impressive 44% rental appreciation in just three quarters.
Even off-plan apartments in DAMAC Hills 2 have seen remarkable growth, with the average price per square foot (PSF) registering a robust 16% increase by 2023 compared to 2021. The demand for 2-bedroom and studio apartments remains strong, with both types recording impressive growth rates of 37% and 36%, respectively, over the last three years.
An outstanding performer in DAMAC Hills 2 is Navitas Residences A, which recorded the highest price increase of 7% in 2023 compared to 2021, further affirming the community’s value as an investment destination.
DAMAC Hills 2, divided into Central Park, District Park, and Picnic Park zones, offers amenities designed to entertain residents of all ages.
Central Park comprises Water Town, Sports Town, and Pavilion areas. Water Town features the relaxed Californian vibes of Malibu Beach, offering a wave pool, splash pads, and a lazy river. Sports Town serves as a hub for recreational and sports activities, with facilities for football, tennis, basketball, cricket, yoga, jogging, cycling, and other fitness activities, as well as an outdoor cinema, a dog park, and a petting farm.
The community is home to the UAE’s first bird aviary, showcasing a diverse range of species. Residents and visitors can explore the wonders of nature in this captivating aviary, housing Glossy Ibis, Sun Conures, Vulturine Guineafowl, Rose-ringed Parakeet, Western bronze-naped Pigeons, Splendid Starlings, Blackcap Babblers, Lemon Doves, and Black-bellied Sandgrouse.
The Pavilion area features open grass space for kids’ play activities, BBQ pits, a maze, giant chess, snakes and ladders games, and a fully occupied community mall with a hypermarket, restaurants, and various retail outlets.
In summary, DAMAC Hills 2 remains Dubai’s top real estate destination, with high transacted values and unmatched luxury, comfort, and investment opportunities. With its thriving community, diverse property options, and sustained growth, DAMAC Hills 2 continues to attract investors and residents, solidifying its position in Dubai’s real estate market.
About DAMAC
Since 2002, DAMAC Properties and DAMAC International have been leading the luxury real estate market in the Middle East. They have successfully developed award-winning residential, commercial, and leisure properties across various countries, including the UAE, Saudi Arabia, Qatar, Jordan, Lebanon, Iraq, the Maldives, Canada, the United States, and the United Kingdom. Over the years, the companies have delivered around 46,000 homes and collaborated with renowned fashion and lifestyle brands such as Versace, Cavalli, de GRISOGONO, Zuhair Murad, Vincent Faudemer, Paramount Hotels & Resorts, Rotana, and Radisson Hotel Group, introducing innovative living concepts to the market. With a steadfast vision and continuous progress, DAMAC Properties is shaping the future of luxury living in the Middle East.
