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Why Invest in Damac: Emirati’s Top Real Estate Developer in Dubai

We are delighted to announce our partnership with Damac Properties, Emirati’s Top Real Estate development company based in Dubai, United Arab Emirates. Founded by Hussain Sajwani, Damac Properties was listed on the Dubai Financial Market in early 2015.

Should you have an interest in exploring investment opportunities within Damac’s projects, please feel free to contact us at info@prime-estate.mc or call us at +377 99 90 77 67. We would be more than happy to provide you with further information on the available options.

What is Damac?

DAMAC Properties, a division of the esteemed DAMAC Group, has been a leader in luxury real estate in the Middle East since 1982. Crafting iconic residential, commercial, and leisure properties, Damac’s portfolio extends regionally and globally. With a focus on vitality and innovation, its developments include skyscrapers, residential communities, and branded residences. As of June 2023, Damac had already delivered 46,000 high-quality homes, with 33,000 more in development. The corporation has established a significant presence in Dubai’s key districts including Business Bay, Dubai Marina, Jumeirah Village Circle, Downtown, and Dubai Harbour, with exclusive villa communities like Damac Hills and Damac Lagoons. Renowned for collaborations with brands like Cavalli, Paramount, De Grisogono, Fendi, and Trump, Damac continues to shape prestigious urban landscapes.

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Why invest in Damac?

Damac, renowned as a leading real estate developer in Dubai, proudly boasts over 120 successfully completed projects across the Emirates. Recognized for its unwavering dedication to construction excellence, punctuality, and unparalleled customer satisfaction, Damac provides robust assurances to its clientele. All in all, investors are presented with the chance to partake in the promising trajectory of a prominent luxury real estate developer based in Dubai and the broader Middle Eastern region.

Why Choose Damac for Investment:

Internationally recognised brand

Damac has a strong reputation for luxury developments in Dubai (like the award-winning Park Towers and Ocean Heights, as well as the exclusive co-branded properties such as Safa One de Grisogono and Cavalli Tower and DAMAC Bay by Cavalli). With its strong position and international recognition, Damac strives for increased sales volumes and higher profit margins compared to industry competitors.

Leading growth of the premium Dubai property market and beyond

Dubai’s booming economy, expat population, foreign investments, and tourism make it a hotspot for high rental yields and investment. Damac stands ready to benefit from this trend, leading the real estate market’s rebound with increased demand, renowned investor confidence, and improved economic conditions.

Proven business model with strong margins and attractive returns

Damac’s strategic planning and decision-making are driven by a firm commitment to maximizing profit margins and returns on equity. The company achieves this through prudent cash management, effective project cost control, strategic land acquisitions, prudent debt management, customer-centric product design, and proactive sales and marketing strategies.

Advanced in-house design, sales and project execution as well as service and hospitality capabilities

Critical to Damac’s financial prosperity is its capacity to secure robust sales upon project launch. The company relies on dedicated in-house teams, such as Sales and Marketing, Design, Project Management, Customer Relationship Management, and Acquisitions, playing pivotal roles across the design, construction, and sales phases.

Future growth secured by existing development pipeline and ability to source new opportunities

Damac boasts a premium portfolio of ongoing projects strategically positioned for near-term growth in the UAE and abroad. Its venture into branded residences, partnering with esteemed global brands like Cavalli, Versace, De Grisogono, and others, further amplifies the company’s future growth prospects.

Conservative financial policy

Funding a significant portion of construction expenses through installment payments garnered from unit sales enables the company to maintain low levels of leverage while also minimizing risk to its project pipeline. The company’s cautious and adaptable capital structure, empowers it to promptly adapt to shifts in the economic landscape.

Highly experienced management team and a committed founding shareholder

Damac is led by an experienced team of directors and senior managers skilled in real estate construction, marketing, human resources, administration, finance, IT, law, and accounting. The board benefits from a blend of local and international expertise.

For further information please check out this page.

How to invest in Damac?

Interested in investing in Damac Properties? We’re thrilled to share our collaboration with Damac. On March 14th 2023, we hosted an exclusive event showcasing compelling investment opportunities and unveiling DAMAC’s visionary developments, offering a glimpse into the future of Dubai’s real estate landscape. Check out this short glimpse of the event on our Instagram reel: https://www.instagram.com/p/C4xsxcDIp_R/.

At the event, Damac’s team presented five of their most prestigious projects, all available for investment through our services.

Below, you’ll find a brief description of each project:

1. Cavalli Couture

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Nestled in Dubai’s vibrant Safe Park area, this building offers an unrivaled location close to iconic landmarks like the Burj Khalifa, Dubai Mall, and the financial center, with Dubai International Airport a mere 15-minute drive away. Designed to transport you from the desert to a lush jungle oasis, the exterior envelops you in lush greenery, while the interior, curated by fashion brand Cavalli, dazzles with vibrant animal prints and natural motifs.

Indulge in leisure and wellness amidst serene lagoons and outdoor spaces, complemented by luxurious amenities including a spa, gym, and fine dining restaurants. Enjoy panoramic views and relaxation on rooftop terraces and reception areas.

Choose from 3 to 5-bedroom residences and 6-bedroom penthouses, each featuring a terrace with a private pool, offering breathtaking views of the Dubai canal.

If you are interested in investing in one of Damac’s projects, please reach out to us via info@prime-estate.mc or call +377 99 90 77 67. We will be delighted to get in touch with you to introduce the available opportunities.

2. ⁠Damac Bay by Cavalli

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Indulge in luxury amidst the waves with exquisite seafront apartments at Dubai Harbour. Discover DAMAC Bay by Cavalli, a breathtaking residential masterpiece spanning three magnificent towers. Harmonizing opulence with maritime serenity, DAMAC Bay by Cavalli presents an unparalleled lifestyle of luxury.

Located in the prestigious Dubai Harbour, DAMAC Bay embodies luxurious waterfront living experience. Each thoughtfully crafted apartment offers unparalleled views of the sea and coastline, promising a lifestyle of absolute luxury by the shore. Not to mention the top-of-the-range amenities that include three infinity pools, a rooftop area, and a private beach.

3. ⁠Amali Island

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Amali Properties, a subsidiary of Damac Properties, introduces an island where every arrival promises an escape from the ordinary.

With 24 uniquely designed luxury villas, this private island offers exclusivity at its finest. Residents will enjoy access to resort-style amenities, ensuring a lifestyle of unparalleled comfort and leisure.

Only six minutes away from Dubai mainland, this enclave redefines luxury living in the heart of the bustling city. These bespoke island villas, nestled within the World Islands in Dubai, epitomize opulence and sophistication, offering a truly distinctive living experience.

4. ⁠ALTITUDE by De Grisogono

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Overlooking the impressive Dubai Canal, ALTITUDE is just minutes away from iconic landmarks such as the Burj Khalifa, Dubai Mall and DIFC, as well as Dubai International Airport just a short drive away.

Developed by de GRISOGONO, these designer apartments in Business Bay seamlessly blend soft color palettes, abundant natural light, modern design, and opulent materials, crafting a refined living space that embodies both tranquility and sophistication.

Beyond luxurious living spaces, Altitude offers a comprehensive range of wellness amenities, including a spa, salon, beauty bar, hydrotherapy, and state-of-the-art temperature-controlled flotation pods.

Delivery date: 31st March 2028.

5. SAFA ONE by de Grisogono

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SAFA ONE by de Grisogono redefines the very essence of luxury living. Blurring the lines between natural splendor and refined home elegance, it’s a sanctuary where life unfolds amidst lush greenery, vibrant tropical blooms, and the allure of the world’s most exquisite jewels.

Exclusively branded by de Grisogono of Switzerland, SAFA ONE draws inspiration from the opulent beauty of emeralds and diamonds, reflecting their magnificence in every facet of the building. From lush greens to sparkling facades, you’re enveloped in a world of flawless splendor.

Nestled in the heart of the city, SAFA ONE offers unrivaled views of Safa Park, World Islands, Bulgari Island, as well as iconic landmarks like the Burj Al Arab, Palm Jumeirah, and Atlantis.

If you are interested in investing in one of Damac’s projects, please reach out to us via info@prime-estate.mc or call +377 99 90 77 67. We will be delighted to get in touch with you to introduce the available opportunities.

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Bay House: Monaco’s Top Luxury Real Estate Project

Introducing Bay House, a new standard of sophisticated living in Monaco’s prestigious Larvotto neighbourhood. This exceptional development comprises 5 exclusive villas and more than 50 apartments, redefining the standards of luxury.

All the residences in Bay House will include three to six bedrooms, spacious entertaining areas, and south-facing wraparound balconies with breathtaking panoramic views.

Each of the five villas will provide an exceptionally rare waterfront living experience in the Principality: private roof terraces and pools overlooking the Mediterranean sea.

After 7 years of construction, full delivery of the properties is expected for 2024.

The epitome of luxurious living

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Each Bay House residence embodies luxurious living, featuring meticulously crafted multi-level properties that effortlessly blend spacious interiors with tranquil private outdoor spaces, defining the true essence of luxury. The exclusive villas, limited to just five, promise an unparalleled living experience.

This lavish living experience includes cutting-edge home automation controlling lighting, shades, air-conditioning, and videophones. Additionally, the all-inclusive concierge services elevate the lifestyle as residents will be able to enjoy a daily shuttle, housekeeping, dry-cleaning, and valet amenities.

Moreover, Bay House introduces 500m2 of amenities, where residents will be able to enjoy its luxurious spa consisting of massage rooms, steam room, sauna, hair and beauty salon, and more. A dedicated fitness area with advanced technology will also be available.

Residents will also enjoy the added convenience of direct access to secure parking at three road levels – Boulevard d’Italie, Boulevard du Larvotto, and Avenue Princesse Grace – interconnected by dedicated elevators. This unique setup will ensure seamless accessibility across all three residence levels. Additionally, most of the 5 houses are expected to have a direct entrance to their private parking bay, a rare luxury in the Principality.

Bay House, Part of a Larger Project: Testimonio II

Bay House stands at the heart of the expansive Testimonio II development, encompassing two residential towers, housing units for local citizens, a nursery, and a spacious new site for the esteemed International School of Monaco. This new International School that will be able to welcome up to 700 students, spans over 10,000 square meters. It will cover the entire length of the project, across four levels, between Avenue Princesse Grace and Boulevard du Larvotto. The school will include a gymnasium and conference hall.

The nursery, located on the ground floor of the tallest tower in Boulevard d’Italie, houses age-specific sections, areas for play and discovery, sleeping zones, care facilities, and terraces.

Moreover, this project is adding new parking spaces in Monaco, a rare gem in the Principality (link the article about investing in parking). More than 1,000 new parking spaces across 13 levels, including spots for public use.

The Visionaries Behind the Project

Everyone remembers the spectacular Tour Odéon, Monaco’s towering landmark that houses the world’s most expensive penthouse. Today, the developer behind this iconic structure, Groupe Marzocco, has unveiled its latest endeavour: Bay House. Representing one of Monaco’s most luxurious residential developments to date, Bay House marks an impressive milestone in the principality’s architectural history.

Embarking on real estate projects in Monaco invariably presents a variety of challenges, and the Testimonio II undertaking is no different. Located in the final large-scale plot available for construction in the Principality, the site posed considerable obstacles: narrow, steep terrain, restricted spaces, and geotechnical complexities. Groupe Marzocco tackled this rigorous project by collaborating with various partners. Among them were the Vinci Group, Arquitectonica designers who designed the distinctive wave-like facade, Alexandre Giraldi, and interior designers such as Laura Sessa.

Located in the lively Larvotto Neighbourhood

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The Bay House development nestles within Monaco’s Larvotto Beach area, a highly sought-after location due to its luxurious apartments, breathtaking sea views, beach lifestyle, and its vibrant local scene thriving with trendiest restaurants and clubs.

Within this area, the esteemed Grimaldi Forum hosts a diverse array of year-round shows, exhibitions and conferences. Among its offerings are the renowned Ballets of Monte-Carlo, prestigious artistic shows led by Jean-Christophe Maillot, making it a nighttime gem in the Principality.

The Larvotto also boasts luxurious five-star resorts such as the Monte-Carlo Beach and the Monte-Carlo Bay and Resort, alongside the most famous nightclubs, namely Jimmy’z and Sass Café. Finally, this district is distinctly defined by the iconic Avenue Princesse Grace, which runs parallel to the coastline and stands as one of the most exclusive streets in the world. Who wouldn’t want to live here?

Delve deeper into Bay House’s website and uncover an entirely elevated benchmark for refined living.

Sources:

Bay House website: https://www.bayhouse.mc/
Forbes: https://www.forbes.com/sites/emmareynolds/2023/04/18/bay-house-monacos-largest-luxury-real-estate-development-will-open-in-2024/?sh=43d281d732f1
L’Observateur de Monaco: https://lobservateurdemonaco.com/infos/immobilier/testimonio-monaco-livraison-2024/

Mareterra: Monaco’s Seafront Expansion and Unstoppable Growth

The number of people settling in or wanting to move to Monaco has increased over the last decades. Yet, Monaco, covering barely more than 2 km², remains smaller than the size of New York’s Central Park.

Running out of space, the world’s second smallest country first tackled the issue with its pioneer offshore project back in 1907. This was the first land expansion into the Mediterranean Sea which birthed the Fontvieille district. Today, under Prince Albert II’s guidance, the most recent expansion is in process, slated for completion by the end of 2024.

A Fusion of Sea and Land

A brand-new district is taking shape along Monaco’s existing coastline, seamlessly extending from the Grimaldi Forum to the Formula One Grand Prix tunnel. Mareterra introduces a vibrant new district that will blend residential, cultural, and recreational spaces while embodying the Mediterranean’s charm and natural habitat.

This transformative venture marks a significant shift for Monaco: an innovative addition to the Mediterranean shoreline that harmonises both land and sea ecosystems. Indeed, the name ‘Mareterra’ beautifully symbolises the project’s fusion of sea (“mare”) and land (“terra”), honouring its dual aspects.

In collaboration with the SAM Anse du Portier developer, Mareterra utilises innovative and sustainable building techniques, embodying Monaco’s vision for expansion and advancement. Esteemed architects, such as Valode & Pistre Architectes, Renzo Piano, and Michel Desvigne, lend their expertise to this transformative project, initiated in 2013 and set for completion by late 2024.

A New Place of Tranquillity for All in Monaco

Introducing a groundbreaking real estate venture that goes beyond conventional living spaces. The project encapsulates a seamless integration of community and lifestyle.

Here’s a list of the meticulously curated public spaces designed for communal enjoyment:

Place Princesse Gabriella – an essential gathering spot at the heart of this district, adorned with captivating reflecting pools.
Le Petit Portier, a charming small marina composed of 15 berths that will be surrounded by shops and restaurants. It’s set to become Monaco’s newest vibrant focal point, perfect for community gatherings.
Mareterra’s La Pinède & La Vallée, drawing inspiration from the Mediterranean’s natural terrain and native plant life, will invite residents and visitors to embark on a serene journey amidst clusters of trees, shrubs, and flora.
Lastly, both locals and visitors will be able to enjoy the Promenade Prince Jacques, stretching along the coastline from the new port to the Grimaldi Forum. This scenic route will offer a stunning sea-view, leading gracefully to the one and only Larvotto beach.

Monaco’s eco-friendly and sustainable district

The development team behind Mareterra is committed to implementing several measures focused on the ecosystem, sustainability, and responsible site development.

Here are some of the key figures:

800 trees plantes
27 000 sqm areas planted
19 000 sqm pedestrian area
9 000 sqm of solar panels
50% of rainwater reused
600m of cycle path

Mareterra has implemented various sustainability measures. For example, the project includes setting up around 200 charging systems for electric vehicles, with 20% allocated for public car park. It will also create two bike stations with one that is specifically designed for electric bikes only.

Additionally, to preserve the ecosystem, Mareterra is actively working to minimise its construction site’s impact and to enhance biodiversity within the area. For instance, it is planned to install shelters like bird nests and insect hotels. Mareterra is also dedicated to preserving protective sea grass and fostering the growth of the new coastal area by constructing artificial reefs.

Deep dive into Mareterra’s Exclusive Residences

Mareterra will offer a variety of distinctive residential spaces, each with its own charm.

At the district’s edge will stand Le Renzo, offering residences overlooking the vibrant port and retail area (see picture above). Then, Les Jardins d’Eau residences will embrace the Riviera elegance, featuring plenty of amenities, spacious balconies, and modern designs that seamlessly blend indoor and outdoor living. Just a short distance away, positioned by the sea, will be located the exclusive villas. Each villa will offer incredible breathtaking views and features its own unique and distinctive design. Finally, the Townhouses perfectly reflect the vision of integrating natural beauty: they will be enveloped by lush greenery – effortlessly blending into nature. These homes will feature interior patios where residents will be able to immerse themselves in nature.

Please do not hesitate to contact us should you be interested in a property in this newly developed district.

For more information about this ongoing (and soon to be) project, please explore Mareterra’s website.

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Parking Investment in Monaco: All You Need to Know

A highly Lucrative Business

While most of us are aware of the exorbitant per square meter prices for apartments in the principality, the underground business of private parking spaces is an equally lucrative domain. Indeed, parking spaces are significantly escalating the already staggering costs associated with real estate in Monaco. According to La Chambre Immobilière de Monaco, the price for a parking space or a private box in Monaco ranges from 150,000 to 600,000 euros – an astronomical spectrum indeed.

Over the past decade, there has been significant inflation in these prices, surpassing the per square meter price escalation. A decade ago, prices fluctuated between 150,000 and 200,000 euros, but today, they span a much wider range from 150,000 to 600,000 euros. Prices are particularly high in some neighbourhoods. Take Monaco-ville, for example – there’s such scarcity that a closed garage effortlessly fetches a million euros. As a result, negotiations are consistently in favour of sellers, who encounter no difficulty in reselling their parking spot.

A Supply that doesn’t meet the Soaring Demand

While Monaco stands as one of the safest places in the world, the preference for parking in a monitored and sheltered facility persists. Underground parking spaces, often the norm in Monaco, come equipped with round-the-clock surveillance, adding to the allure of secured parking options. The scarcity of available street parking amplifies the necessity for a secure spot, further elevating the value of such sought-after parking spaces. The quest for this prized possession – a secure and covered parking space – is the ultimate challenge within the principality.

Another challenge highlighted by L’Observateur de Monaco: owners of luxurious cars now struggle with the outdated size standards of parking spaces in the principality. Indeed, many parking spaces here are notably small. This mismatch propels prices upward for larger parking spaces. Desperate for more sizable spots, this clientele is willing to pay astronomical sums, creating a fervent demand. The current average cost for securing a ‘large’ spot ranges between 500,000 and 600,000 euros.

Finally, the soaring demand can also be explained by the increasing trend of multiple car ownership per household. As more people accumulate vehicles, the supply fails to match this surge, resulting in a continuous rise in prices.

As a result, investors, recognizing this demand, have entered the market, heightening the difficulty of acquiring parking spaces in Monaco. It’s undeniably a secure investment, demanding minimal maintenance, easy to manage, and promising optimal profitability.

Why Parking Investment is Your Next Big Move

All things considered, investing in parking spaces in Monaco can be attractive for several reasons:

High Demand: Monaco is a small city-state with limited space. The demand for parking is consistently high due to its dense population and limited land availability.
Limited Supply: There’s a scarcity of parking spaces in Monaco, leading to a situation where the supply doesn’t meet the demand. This imbalance can drive up the value of parking spaces over time.
Stability and Prestige: Monaco is known for its stability, luxurious lifestyle, and as a tax haven. Investing in property, including parking spaces, in such a prestigious and stable location can offer long-term benefits.
Potential for Rental Income: With the high demand for parking, you can potentially generate steady rental income by leasing out your parking space to residents, businesses, or tourists. Plus, it’s a profitable investment that requires minimal maintenance.
Capital Appreciation: Due to limited space and high demand, property prices, including parking spaces, in Monaco have historically shown strong appreciation.

However, before investing, it’s crucial to consider factors like initial investment costs, ongoing maintenance expenses, regulations around property ownership and rental, as well as the potential risks. Consulting with a local real estate expert (hyperlink to contact info) or financial advisor (hyperlink to contact info) familiar with the Monaco market can provide valuable insights tailored to your specific situation and investment goals. Don’t hesitate to contact us for guidance.

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News & Press

Why Invest in Damac: Emirati’s Top Real Estate Developer in Dubai