Latest news with #DAMACProperties
Entrepreneur
7 days ago
- Business
- Entrepreneur
Gen Z Buyers Are Reshaping Dubai's Property Market: Here's How
As with the generations that came before, this new cohort of buyers has its own set of priorities, values and preferences, and developers must be prepared to adapt accordingly. Opinions expressed by Entrepreneur contributors are their own. You're reading Entrepreneur Middle East, an international franchise of Entrepreneur Media. Dubai's property market is renowned for attracting luxury home buyers, expats and high-net-worth investors in their droves. The first few months of 2025 have not disappointed, with a surging population driving demand for more than 51,000 additional homes this year. And while this is clearly welcome news for our Emirate's real estate community, I'm particularly interested in the subtle demographic shifts that are taking place within our sector. With its eldest members approaching their thirties, Generation Z (born between 1997 and 2012) is now truly 'coming of age' and entering the property market. As with the generations that came before, this new cohort of buyers has its own set of priorities, values and preferences, and developers must be prepared to adapt accordingly. As Managing Director of Sales and Development at DAMAC Properties, Founder and CEO of PRYPCO, and Co-founder and COO of Amali Properties, I am fascinated by evolving buyer trends and investment drivers. So, I've decided to explore how Gen Z's relationship with technology, concerns about sustainability and focus on financial stability are gradually reshaping Dubai's property market. Technologically minded As the first generation of true digital natives, Gen Z has grown up immersed in technology. Nowhere is this truer than in Dubai. Our Emirate boasts an internet user penetration rate of 99% and a mobile connectivity rate in excess of 200%. In short, a younger person's property-buying journey looks a little different from that of their predecessors. From start to finish, Gen Z experiences the market through the lens of technology. Immersive viewings powered by virtual reality (VR), for instance, are proving extremely popular among Gen Z buyers, allowing them to 'visit' prospective properties without leaving their existing homes. This is just one example of a digital-centric experience that extends beyond the 'phone scrolling' favoured by many Millennials. Virtual tools, such as DAMAC Properties' 3D Tours, allow buyers to 'walk through' an existing or soon-to-be-built property at any point in time (and any number of times). In fact, some clients prefer to embark on several digital tours before booking an in-person viewing, making them an increasingly important part of our offering. Even after the viewing stage, tech remains central to Gen Z's decision-making process. Smart home adaptations, ranging from high-specification security systems to remote lighting and temperature control, are especially popular with this demographic. Naturally, savvy developers are ahead of the curve in this respect, so it's no surprise that the percentage of new properties in Dubai that incorporate smart tech looks set to rise to 60% by the end of this year. Sustainability focused Sustainability is one of the most important drivers behind Gen Z's affinity for smart home tech, with 72% of younger people reporting that they have altered their behaviour to minimise their environmental impact. At the same time, the Government of Dubai's focus on the conservation of local ecosystems is contributing significantly to responsible development, thanks to initiatives such as the 2040 Urban Masterplan. Obviously, the private sector has a duty to support these efforts, but there is also a clear commercial incentive to cater to the ever-growing requirement for eco-friendly communities. As demand for sustainable properties in Dubai has increased, energy efficiency, green spaces, the use of eco-friendly materials and water conservation have emerged as key motivators. In fact, 70% of UAE investors are willing to pay a premium for sustainable living options, and as more Gen Z buyers enter the market, this percentage looks likely to grow further. Financially savvy Amid global economic uncertainty, it's no surprise that 34% of Generation Z say the cost of living is their top concern. Nevertheless, many young people are doing everything in their power to get a foot on the property ladder – especially in thriving markets like Dubai, which boast diverse offerings, a range of tax-free incentives and myriad lifestyle-related benefits while delivering excellent value for money. In turn, our Emirate's most forward-thinking developers are working to cater to Gen Z-related demand through the provision of attractive and affordable financing plans, which offer low initial deposits coupled with flexible monthly repayments. In terms of investment, innovations related to proptech are also empowering Gen Z. For instance, products such as PRYPCO Blocks are removing barriers to entry through fractional ownership, allowing users to invest in Dubai real estate from as little as AED 2,000. Acutely aware of the extent to which blockchain technology could benefit the property sector, our Emirate's leaders are also accelerating progress through initiatives such as the Real Estate Tokenisation Project. Ultimately, I would argue that the long-standing success (and allure) of Dubai's property market has been driven by its ability to adapt. Time and time again, our Emirate's real estate community has demonstrated an innate ability to anticipate shifting market trends and pivot in response to changing buyer behaviours. While few would deny that members of Gen Z are driving change within Dubai's real estate market, their influence also seems to be benefitting other demographics. Consequently, our Emirate's leading property developers have become laser-focused on the delivery of high-quality and sustainable communities – coupled with flexible payment options – that meet the requirements of today's buyers while simultaneously catering to future demand. Personally, I am excited by the transformative impact that members of Gen Z are having on the property sector, both domestically and globally. I can't wait to see how their priorities and values continue to drive positive change over the longer term.
Khaleej Times
26-05-2025
- Business
- Khaleej Times
Chelsea Residences Dubai – The city's elite address from DAMAC
From its exceptional design to its world-class amenities, DAMAC Properties has certainly set a new standard for luxury living in Dubai Dubai, a city known for its dazzling skyline, luxurious living, and innovative architecture, is home to some of the most prestigious real estate developments in the world. Among the gems in Dubai's real estate scene is Chelsea Residences Dubai, a masterpiece developed by the renowned DAMAC Properties. This exceptional residential community promises an unparalleled living experience, combining elegance, sophistication, and comfort to offer a truly elite address in the heart of the city. In this article, we will explore what makes Chelsea Residences Dubai an attractive option for those seeking a premium lifestyle in one of the world's most iconic cities. From its exceptional design to its world-class amenities, DAMAC Properties has certainly set a new standard for luxury living in Dubai. The legacy of DAMAC Properties Dubai DAMAC Properties Dubai is a name that resonates with luxury, quality, and innovation. As one of the most prominent developers in the UAE, DAMAC has been at the forefront of redefining the concept of luxury living since its inception. The company is known for its commitment to excellence, creating high-end residential, commercial, and leisure developments that cater to the tastes of the world's elite. With a vast portfolio of residential properties ranging from opulent villas to modern apartments, DAMAC Properties Dubai has carved a niche for itself in the ultra-luxury market. Their projects consistently showcase the perfect blend of cutting-edge design, superior craftsmanship, and unmatched attention to detail. Chelsea Residences Dubai is no exception. A peek into Chelsea Residences Dubai Chelsea Residences Dubai is an exclusive collection of luxurious apartments that offer an elevated lifestyle in the city. Located in one of Dubai's most sought-after neighborhoods, the development provides easy access to key attractions such as The Palm Jumeirah, Dubai Marina, and Downtown Dubai. This prime location ensures that residents enjoy the best of both worlds - proximity to the city's vibrant social scene, while still maintaining privacy and tranquility. The architectural design of Chelsea Residences Dubai takes inspiration from classic European styles, particularly the charm and elegance of Chelsea in London. The development features a blend of contemporary design with timeless elegance, with a strong emphasis on creating an environment that reflects refinement, comfort, and style. Unmatched Design and Luxury Each residence in Chelsea Residences Dubai has been meticulously crafted to provide residents with the highest levels of comfort. The apartments feature spacious layouts, high ceilings, and floor-to-ceiling windows that allow for natural light to flood the interiors. Every detail has been thoughtfully considered, from the finest materials used for finishes to the sophisticated color palettes that create an inviting and luxurious atmosphere. The interior design of Chelsea Residences Dubai is nothing short of spectacular. Residents can expect to find high-end fixtures and fittings, including state-of-the-art kitchen appliances, premium flooring, and bespoke cabinetry. The emphasis on quality materials and craftsmanship ensures that each residence offers both style and durability. A Luxurious Lifestyle Awaits One of the key reasons why Chelsea Residences Dubai has become the go-to address for the city's elite is the range of world-class amenities available to residents. DAMAC Properties has gone above and beyond in providing a lifestyle that combines convenience with indulgence - a commitment also evident in developments like DAMAC Canal Heights 2, where luxury, innovation, and waterfront living come together to redefine urban elegance. Exclusive Amenities Residents of Chelsea Residences Dubai can enjoy a host of top-tier amenities designed to elevate their daily living experience. These include: Infinity Pool and Spa: A stunning infinity pool provides the perfect space for relaxation, offering sweeping views of the surrounding cityscape. The attached spa ensures that residents can indulge in a range of rejuvenating treatments. State-of-the-art Gymnasium: For those who prefer a more active lifestyle, the fully equipped gymnasium offers cutting-edge fitness facilities. Whether you're a seasoned athlete or just starting on your fitness journey, the gym has everything you need. Private Cinema: One of the most exclusive features of Chelsea Residences Dubai is its private cinema, where residents can enjoy the latest movies in complete comfort and privacy. It's a perfect spot for family gatherings or a night out with friends. Fine Dining: The development features a number of gourmet dining options, allowing residents to enjoy exceptional culinary experiences without ever having to leave their home. 24/7 Concierge and Security: The development's concierge service is available around the clock to assist with everything from reservations to arranging personal services. Additionally, a state-of-the-art security system ensures the safety and privacy of every resident. Private Parking and Valet Services: Residents can enjoy the luxury of private parking spaces and valet services, making life more convenient for those with demanding schedules. A Community Designed for the Elite At Chelsea Residences Dubai, the focus is not only on individual luxury but also on creating a sense of community. The development encourages residents to socialise and build meaningful connections through shared spaces and events. The meticulously landscaped gardens, dedicated spaces for outdoor activities, and communal lounges ensure that there is always a place to relax, unwind, or meet with neighbors and friends. The sense of exclusivity and prestige is further reinforced by the development's boutique feel. With only a limited number of residences available, Chelsea Residences Dubai ensures that each resident enjoys the utmost privacy and comfort, without the hustle and bustle of crowded living spaces. Location - The ultimate convenience Another standout feature of Chelsea Residences Dubai is its prime location. Situated in one of the most coveted parts of Dubai, the development is well-connected to major highways, making it easy to access key destinations around the city. Whether you're heading to the Dubai International Airport, the Mall of the Emirates, or Dubai Design District, getting around is a breeze. Moreover, the development is close to renowned schools, hospitals, and shopping centers, ensuring that every need is catered to. For those who enjoy an active social life, nearby attractions such as the Dubai Marina, JBR Beach, and the Palm Jumeirah provide endless entertainment options, from trendy restaurants to world-class shopping. This strategic positioning reflects DAMAC Properties' global approach to selecting only the finest locations for its developments - a vision also exemplified by DAMAC Tower Nine Elms London, a landmark project in the UK capital that brings the same blend of sophistication, accessibility, and luxury to one of London's most prestigious districts. Investment potential – A smart choice For those considering Chelsea Residences Dubai as an investment opportunity, the development offers significant potential. Dubai's real estate market continues to show strong growth, and properties developed by DAMAC Properties are highly sought after by both local and international buyers. With the increasing demand for luxury living spaces in prime locations, Chelsea Residences Dubai is poised to offer excellent returns on investment. Whether you're looking to purchase a property for personal use or as a rental investment, this prestigious development offers the perfect blend of exclusivity, convenience, and growth potential. Why choose Chelsea Residences Dubai? There are numerous reasons why Chelsea Residences Dubai stands out as one of the most desirable addresses in Dubai: Prime Location: In the heart of the city, close to key attractions and with easy access to transportation routes. Luxury Living: Offering elegant, spacious apartments with premium finishes and world-class amenities. Exclusivity: A limited number of residences ensure that you're joining an elite community. Exceptional Investment Opportunity: Strong demand for luxury properties in Dubai provides excellent potential for appreciation in value. Conclusion Chelsea Residences Dubai by DAMAC Properties is truly a beacon of luxury living in Dubai. Whether you are looking for a prestigious address, a comfortable and elegant home, or a sound investment opportunity, this development offers everything you could possibly desire. With its stunning design, state-of-the-art amenities, and unrivaled location, Chelsea Residences Dubai provides a lifestyle of sophistication and exclusivity that is second to none.
Arabian Post
24-05-2025
- Business
- Arabian Post
Chelsea FC Embarks on Ambitious Dubai Skyscraper Project Featuring Rooftop Football Pitch
Chelsea Football Club has unveiled plans for a groundbreaking real estate venture in Dubai, marking its first foray into branded residential developments. In collaboration with Dubai-based developer DAMAC Properties, the project, named Chelsea Residences by DAMAC, will comprise six 130-metre-high towers situated in Dubai Maritime City. Scheduled for completion by December 2029, the development will offer over 1,400 sea-facing apartments, each infused with Chelsea's distinctive branding and designed to provide panoramic views of the Arabian Gulf and Dubai's skyline. The residences will feature a range of amenities tailored to football enthusiasts and luxury seekers alike. A standout feature is the rooftop football pitch, adorned with the club's emblem, offering residents a unique sporting experience. Additional facilities include a Chelsea-themed gym, a football simulation room, and wellness centres equipped with cryotherapy zones, rain therapy rooms, and aerial yoga studios. Entertainment options encompass a private cinema for match screenings and an Aquarium Lounge bathed in Chelsea blue. Dining experiences within the development are set to be equally exclusive. Residents will have access to Dubai's first mono-diet café, a private chef's table, and the Captain's Table—a dining event hosted by Chelsea legends. These offerings aim to blend the club's rich sporting heritage with Dubai's luxury lifestyle. ADVERTISEMENT Apartments will range from one to three bedrooms, with prices starting at approximately AED 2.17 million . The interiors are designed to reflect a fusion of British sophistication and Dubai's contemporary elegance, featuring floor-to-ceiling windows and high-end finishes. The project is being designed by the renowned architecture firm Gensler, known for integrating brand identity into architectural design. This venture represents a strategic move by Chelsea FC to expand its global footprint and diversify revenue streams. Under the ownership of Clearlake Capital and Todd Boehly, the club is exploring innovative avenues to enhance its brand presence and financial stability. The partnership with DAMAC Properties, a developer recognized for luxury projects like the Roberto Cavalli Tower and the Versace Tower in London, aligns with this vision. DAMAC's Managing Director, Amira Sajwani, emphasized the project's significance, stating, 'Chelsea Residences by DAMAC represents a convergence of two global powerhouses, redefining what it means to live like a champion.' The development is poised to attract high-net-worth individuals, including British expatriates and affluent buyers from Southeast Asia and the Indian subcontinent, seeking a unique blend of luxury living and football culture. In addition to the residential project, the partnership includes DAMAC's logo appearing on Chelsea's men's and women's team shirts for the remainder of the 2024-25 season, debuting during a UEFA Conference League semi-final match. This collaboration underscores the club's commitment to strengthening its brand presence in the Middle East, a region with a growing appetite for football and luxury real estate.
Economy ME
20-05-2025
- Business
- Economy ME
Why digital twins are the future of real estate sales
Full transparency – I am a passionate advocate of digital twin technology, and I have been for many years. Innovation in this space is transforming the real estate buying experience while facilitating the visualization and optimization of built assets. The result is a win-win for buyers and sellers alike. For those who aren't familiar with the technology, digital twins are virtual 3D replicas of properties, systems or processes, which can be continuously updated using real-time data. According to Fortune Business Insights , the global market for digital twins looks set to grow from $24.48 billion in 2025 to $259.32 billion by 2032, representing a staggering compound annual growth rate (CAGR) in excess of 40 percent over the next seven years. As managing director of operations, finance and hospitality at DAMAC Properties , I set about driving our organization's adoption of digital twin technology at the beginning of the COVID-19 pandemic. In the years since, these models have significantly enhanced our sales process, allowing our team to showcase master communities in the metaverse. Consequently, we have seen associated transactions grow from $24 million at launch to more than $400 million in 2024. So, this month, I've decided to explain why I believe digital twin technology represents the future of real estate sales. Digital twins are virtual 3D replicas of properties, systems or processes, which can be continuously updated using real-time data Read: DAMAC launches branded Chelsea Residences in Dubai Maritime City Anticipating the needs of end users Historically, real estate development relied on blueprints and physical prototypes. In recent decades, processes such as building information modelling (BIM) have made the design and planning stages of property development far more efficient and collaborative. Digital twins represent the natural next step in this evolution. By offering continuously updated virtual environments that accurately depict physical assets and their related systems, these models allow designers and developers to plan and test every last detail of a project before a single brick has been laid. Before and during the construction phase, digital twins can be used to analyze design elements such as daylight, air quality, thermal comfort, energy use and layout, making it easier to evaluate the future performance of planned assets while ensuring the wellbeing of residents in the process. Large-scale projects such as the Virtual Singapore platform and London Heathrow Terminal 5 have already demonstrated the value of this innovation. Forward-thinking developers like DAMAC Properties have been harnessing the advantages of digital twin technology for many years, setting a new gold standard for residential projects in Dubai and beyond. However, I expect that broader market adoption will continue to grow as associated costs fall. Establishing a property's eco-credentials Digital twins can also contribute to more efficient property development processes and the creation of sustainable building stock. They enable engineers to comprehensively model and optimize energy consumption, water usage, and heating, ventilation and air-conditioning (HVAC) systems, unlocking opportunities to reduce waste, lower operational costs and help preserve vital resources. In addition, the integration of real-time data inputs and diagnostics allows stakeholders to make more environmentally friendly, cost-effective and proactive choices. Digital twins not only deliver benefits during the construction phase, but they also have the potential to enhance operations throughout a built asset's lifecycle. Improved sustainability is not just good for our planet. The gains delivered by digital twins can also boost developers' bottom lines. This is especially true in the UAE, where as many as 70 percent of investors are willing to pay a premium for greener properties. Forward-thinking developers like DAMAC Properties have been harnessing the advantages of digital twin technology for many years Delivering benefits for all stakeholders Digital twins are fast becoming an indispensable sales and marketing tool for real estate developers and their partners. Firstly, they are helping to cut operational costs associated with physical staging. Secondly, buyers are 95 percent more likely to call about a property if there's an option to take a virtual tour, according to data from Matterport. Homebuyers can now embark on detailed and immersive virtual tours from any location. It doesn't even matter whether the property in question is off-plan or complete – this technology offers prospective customers the freedom to explore spaces at their own pace, wherever they may be. At the same time, sales advisors can guide off-plan buyers through customization options, enabling them to experiment with different finishes, fittings, fixtures and layouts in a virtual environment. In the UAE, 70 percent of investors are willing to pay a premium for greener properties Not only does this enable customers to explore a property's full potential at the outset, but it also reduces the need for costly and inconvenient refits or renovations further down the line. In my opinion, the implementation of digital twins is playing a critical role in creating a more efficient, sustainable and customer-centric property sector. By streamlining sales processes and elevating the customer experience, this technology offers buyers the opportunity to craft their dream homes while empowering forward-thinking developers to deliver sustainable world-class communities. Five years ago, very few real estate professionals fully grasped the revenue-generating potential of digital twins. DAMAC Properties' track record during this period is a testament to the power of virtual models, and I have no doubt that this technology will continue to facilitate sales for many years to come. For more op-eds, click here
Campaign ME
20-05-2025
- Business
- Campaign ME
DAMAC Properties reveals experiential e-commerce real estate website
DAMAC Properties has unveiled a fully experiential e-commerce property website, in an effort to redefine the future of real estate transactions with a seamless blend of technology, transparency, and immersive engagement. The digital platform allows users to explore DAMAC's luxury properties through interactive 3D virtual tours, check live inventory, and reserve units in real time all in seconds. Integrated with metaverse capabilities, multilingual, geo-targeted features, end-to-end CRM and telesales support, the platform aims to bring unprecedented convenience to investors, home buyers, and brokers. It also offers agents personalised links with lead attribution, 15-day tracking, full EOI (expression of interest), and invoicing capabilities. 'The launch of our new e-commerce platform represents a bold step forward in redefining how real estate is experienced and transacted for our buyers in the UAE and globally,' said Ali Sajwani, Managing Director of Operations, Finance and Hospitality at DAMAC. 'Combining immersive technology with seamless functionality empowers buyers and brokers with more access, convenience, and confidence.' Key projects in DAMAC's portfolio, including the latest launch, Chelsea Residences by DAMAC, are now available on the portal for users to submit their EOI. The new website also integrates with DAMAC Properties' internal inventory management pipeline, ensuring the near real-time availability of units across its portfolio. As DAMAC Properties aims to continue the expansion its reach and enrich its customer offerings, the company claims the launch of its new platform represents its commitment to innovation and delivering exceptional experiences for buyers and brokers.
