Damac Properties Announces The Launch Of Its Biggest Project To Date

Damac Properties Announces The Launch Of Its Biggest Project To Date

Damac Properties announced on Tuesday, April 30 the launch of its biggest project to date which it said would be the most luxurious golf community in Asia. “Akoya by Damac” will comprise an 18-hole PGA Championship Golf Course surrounded by branded mansions, villas, townhouses and apartments, spanning over an area of 28 million square feet, located in Dubailand.

**Akoya by Damac**
With its new master development Damac Properties aimed to create a “thriving living environment” and provide “ultimate luxury” for residents and travellers, the company has said. The project will be the largest in size and scale in Damac’s history, making the Dubai property developer the largest luxury developer in the Middle East. The company chairman Hussein Sajwani has said that “the development will bring a blend of high-end, five-star living, with unrivalled facilities and create a haven for families looking to make Dubai their home”.

In addition to the golf course and the luxury residential areas, “Akoya by Damac” will also feature boutique hotels, leisure and entertainment facilities, international schools – from kindergarten to secondary – shops of globalretailers and a sport complex.
Sajwani has revealed that Damac was in advanced discussions with a number of leading global brands to make Akoya the most sought-after area in Dubai.

The land needed for the construction of the project – some 28 million square feet – has already been bought from Dubailand, but so far no timeline for the development has been issued. The number of housing units that will be built within the community is also unknown.
**Luxury developer**
Akoya will add to a series of major construction projects by the Dubai property developer targeting well-off individuals looking for luxury real estate in the emirate.

!m[The Dubai Property Developer to Build a Luxurious Golf Complex](/uploads/story/2060/thumbs/pic1_inline.png)
The company has launched the Damac Towers by Paramount, a luxury residential project developed in partnership with the famous film production company. The first phase of the $1 billion project has attracted strong investor interest, including from countries such as the UK, Russia, Nigeria, India, Lebanon and Saudi Arabia (First Phase of DAMAC’s Paramount Project Sold Out, Developer Says ).

By Michael Harris
Specialising in economics by academia, with a passion for financial trading, Michael Harris has been a regular contributor to Invezz. His passion has given him first hand experience of trading, while his writing means he understands the market forces and wider regulation.

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