Unveils Exclusive Project Having Special Quota for Emirati Brokers: Damac Lagoon Views

Dubai Land Department (DLD), has launched the initial phase of collaborations with nine developers to strengthen the ‘Dubai Real Estate Brokers Programme’, with efforts being made to allocate a 10 to 15 per cent quota of their projects to be sold through Emirati brokers.

Dubai’s renowned private developer, DAMAC Properties, has launched a revolutionary initiative: an entire building dedicated exclusively to Emirati brokers. This project aims to empower licensed UAE national brokers to sell units to a diverse clientele, including UAE nationals, residents, and foreign investors. This initiative underscores DAMAC’s commitment to supporting local brokers and enhancing the real estate sector in the UAE.

Key Highlights of the Initiative

DAMAC Properties has introduced several key features to ensure the success and attractiveness of this exclusive project:

• Licensed Emirati brokers across the UAE are exclusively permitted to sell units in this project.
• Emirati buyers will benefit from a substantial 10% discount on their purchases.
• Brokers will receive a flat 6% commission on all sales, providing a significant incentive.

Damac Lagoon Views

The flagship project, Damac Lagoon Views, represents a notable collaboration between DAMAC Properties and the Dubai Land Department (DLD). This initiative highlights the pivotal role that Emirati brokers play in the UAE’s real estate sector. By dedicating an entire building to these brokers, DAMAC is fostering a more inclusive and empowering environment for UAE nationals within the industry.

Statement from DAMAC

“DAMAC is the first to dedicate an entire building exclusively for UAE national licensed brokers. UAE nationals will get a 10% discount when buying Damac Lagoon Views. UAE national licensed brokers will get a 6% flat commission when selling the project,” said DAMAC in a statement to Khaleej Times. This statement emphasizes DAMAC’s commitment to providing unique opportunities for Emirati brokers and supporting their professional growth.

Project Details

Damac Lagoon Views offers a range of luxurious units at competitive prices:

• Prices start at AED 1.143 million for a one-bedroom apartment.
• Prices go up to AED 1.944 million for two-bedroom units.
• Approximately 300 brokers attended a recent event organized by DAMAC to introduce the project.

Expanding Real Estate Brokerage Market

The real estate brokerage market in Dubai and the UAE is experiencing significant growth, driven by high demand for residential and commercial properties post-pandemic. According to VVS Estate, around 10,000 new broker licenses are expected to be issued in 2024, a significant increase from 5,000 in 2018. This surge underscores the dynamic nature of the UAE’s real estate sector and the crucial role that Emirati brokers play in its expansion.

Honoring Emirati Brokers

In addition to the launch of Damac Lagoon Views, DAMAC held a major event in collaboration with the DLD to honor the contributions of Emirati brokers. The event included a gala dinner and awards ceremony, celebrating top-performing brokers and offering valuable networking opportunities. This event not only recognized the hard work and dedication of these brokers but also highlighted their essential role in the real estate market.

Commitment to Excellence

“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,” said Amira Sajwani, managing director of sales and development at DAMAC. This statement reflects DAMAC’s unwavering commitment to excellence and their dedication to providing top-notch real estate options for Emirati brokers and buyers alike.

DAMAC Maison Prive

DAMAC Maison Prive is another notable project that reflects DAMAC’s commitment to luxury and quality. Located in the heart of Dubai, DAMAC Maison Prive offers stunning views and world-class amenities, making it a prime choice for discerning buyers. This project complements Damac Lagoon Views by providing additional options for investors seeking high-end properties in Dubai.

DAMAC Heights

DAMAC Heights is a landmark development that epitomizes luxury living. Situated in Dubai Marina, DAMAC Heights offers breathtaking views of the Arabian Gulf and the Dubai skyline. This project, like Damac Lagoon Views, highlights DAMAC’s dedication to creating premium residential spaces that cater to the needs of modern buyers.

DAMAC Executive Heights

DAMAC Executive Heights is a prestigious office tower located in the heart of Dubai’s business district. This development provides state-of-the-art facilities and a prime location for businesses looking to establish a presence in Dubai. By offering such premium commercial properties, DAMAC continues to support the growth and diversification of Dubai’s real estate market.

DAMAC Hills 2

DAMAC Hills 2 is a master-planned community that offers a wide range of residential options, from villas to apartments. This development is designed to provide a luxurious lifestyle with ample green spaces and world-class amenities. DAMAC Hills 2 complements Damac Lagoon Views by offering a diverse range of property options to meet the varying needs of buyers and investors.

The Role of Technology in DAMAC’s Projects

DAMAC Properties leverages cutting-edge technology to enhance the quality and appeal of its projects, including Damac Lagoon Views, DAMAC Maison Prive, DAMAC Heights, DAMAC Executive Heights, and DAMAC Hills 2. By incorporating advanced building techniques, smart home technologies, and sustainable practices, DAMAC ensures that its properties meet the highest standards of modern living.

Sustainable Development Initiatives

Sustainability is a key focus for DAMAC Properties. The company is committed to implementing environmentally friendly practices in all its projects, including Damac Lagoon Views and DAMAC Hills 2. From energy-efficient building materials to waste reduction strategies, DAMAC aims to create sustainable communities that contribute to the overall well-being of residents and the environment.

Future Prospects for Emirati Brokers

The launch of Damac Lagoon Views and the exclusive opportunities provided to Emirati brokers mark a significant milestone in the UAE’s real estate sector. As the market continues to grow, Emirati brokers are expected to play an even more pivotal role in driving sales and attracting diverse clients. DAMAC’s initiatives are designed to support this growth and ensure that Emirati brokers have the tools and opportunities they need to succeed.

Conclusion

DAMAC Properties‘ introduction of the exclusive Damac Lagoon Views project for Emirati brokers is a testament to the company’s commitment to supporting and empowering UAE nationals within the real estate sector. By offering unique incentives, such as a 10% discount for Emirati buyers and a 6% commission for brokers, DAMAC is fostering a more inclusive and dynamic market. Additionally, projects like DAMAC Maison Prive, DAMAC Heights, DAMAC Executive Heights, and DAMAC Hills 2 highlight DAMAC’s dedication to delivering unparalleled luxury and quality across its portfolio.

As the real estate brokerage market in Dubai and the UAE continues to expand, the role of Emirati brokers will become increasingly significant. With DAMAC’s innovative initiatives and unwavering commitment to excellence, the future looks bright for these brokers and the clients they serve.