UAE developer announces 44-storey Canal Heights tower with underwater pearl museum

Damac Bay residents will have access to a white-sanded private beach, a range of food and beverage outlets and the property’s exclusive Cavalli Lounge. In addition, the three-tower property has been built to provide each unit with a beautiful seaside view

The latest addition to the Mediterranean-inspired community comes after the successful launch of six clusters: Portofino, Venice, Malta, Nice, Santorini, and Costa Brava.

Dubai saw $35 billion worth of property market transactions in 2021, the highest recorded since the global financial crisis.

Located adjacent to the Damac Hills community, the theme of the project will be eight different cities spread across the community

Dubai property prices are rising for the first time in six years, Morgan Stanley said in a research note.

Developer makes $52mln Q1 net loss on lower revenue recognition.

Damac Properties has posted an AED1.04 billion ($283 million) net loss for 2020 compared to AED37 million ($10 million) the year before.

The 18-hole course designed by Tiger Woods is reportedly facing another delay

There is a clear pattern forming with Damac at the moment that they are continuing to build residential developments, but evidently, from their results, they are not selling enough property.

Dubai developer, however, managed improved revenues in a tough operating environment

DAMAC has reported losses of 931.3 million dirhams ($253.57 million) for the first nine months of the year.