<table name="logo_release" border="0" cellspacing="10" cellpadding="5" align="right"> <tbody> <tr> <td><img src="https://mmx.prnasia.com/media/MS1883813/85fed08d2b58f1264a3955cc4f9dc19c.jpg?id=OA2929335&amp;p=medium600" border="0" alt="" title="logo" hspace="0" vspace="0" width="118" /></td> </tr> </tbody> </table> DUBAI, UAE, Sept. 4, 2026 /PRNewswire/ -- DAMAC Properties, the largest private real estate developer in the UAE and the Middle East, is celebrating the handover of more than 50,000 homes. With more than USD 2.72 billion in construction contracts awarded during the first half of 2026, DAMAC is targeting 8,800-plus residential units to be delivered this year across DAMAC Lagoons, DAMAC Hills, DAMAC Hills 2, Chic Tower and Elegance Tower. <div class="PRN_ImbeddedAssetReference" id="DivAssetPlaceHolder7676" style="TEXT-ALIGN: center; WIDTH: 100%"> <a href="https://mmx.prnasia.com/media/MS1981392/DAMAC-Lagoons-is-the-largest-component-of-DAMAC-s-2026-handovers_LR.jpg?id=OA2929334&amp;p=medium600" target="_blank" style="color: #0000FF"><img src="https://mmx.prnasia.com/media/MS1981392/DAMAC-Lagoons-is-the-largest-component-of-DAMAC-s-2026-handovers_LR.jpg?id=OA2929334&amp;p=medium600" title="DAMAC Lagoons is the largest component of DAMAC’s 2026 handovers" alt="DAMAC Lagoons is the largest component of DAMAC’s 2026 handovers" /></a> DAMAC Lagoons is the largest component of DAMAC’s 2026 handovers </div> Amira Sajwani, Managing Director, DAMAC Properties, said: &quot;As Dubai's residential market continues to mature, the ability to execute at scale will increasingly differentiate developers. The ability to&nbsp;mobilise the right partners, maintain control across complex construction programmes and translate ambitious pipelines into completed homes and operational communities will define success in the months to come. We are strengthening our delivery platform and maintaining momentum across our portfolio to meet commitments made to our customers.&quot; Mohammad Tahaineh, Chief Project Officer, DAMAC Properties, said: &quot;Having delivered more than 50,000 homes at scale, the next 55,000+ demand rigorous control at every stage. Our disciplined programme management enables us to closely track procurement, quality, contractor performance and site productivity; anticipating and mitigating risks before they affect delivery schedules. This operational resilience has kept construction progressing throughout 2026, despite significant geopolitical pressures on global supply chains.&quot; Handovers are accelerating across Dubai, with nearly 25,000 new homes completed in the first half of 2026, representing a 36 per cent increase compared with the same period last year. 1 Cushman &amp; Wakefield Core research states 13,200+ units were delivered in Dubai during Q2 2026 alone, with approximately 32,000 additional units expected in the second half of the year. 2 This increase in handovers places greater emphasis on construction capacity, contractor performance and developers' ability to convert project pipelines into completed homes. With more than 55,000 units and over 100 million sq. ft. of project area in planning and development, DAMAC will focus on completing its targeted 8,800-plus handovers through 2026, while mobilising newly awarded construction packages. These works establish the base for the next phase of deliveries in 2027 and beyond. DAMAC Lagoons makes up the largest component of DAMAC's 2026 delivery programme, with approximately 6,300 homes targeted for handover, compared with around 513 in 2025. Overall infrastructure, landscaping and associated works have exceeded 80 per cent completion. The community features approximately 177,000 sq. m of water bodies, equivalent to around 141 Olympic-size swimming pools, commissioned in phases alongside residential and infrastructure works. At DAMAC Hills, approximately 85 per cent of the community has been completed and handed over. This year, dozens of luxury residences are being handed over across Cavalli Estates and Utopia. At DAMAC Hills 2, more than 1,500 villas will be handed over in 2026. DAMAC is also progressing handovers at Chic Tower in Business Bay and Elegance Tower in Downtown Dubai, extending the delivery programme across the company's high-rise portfolio. Strategic contractor appointments, early procurement, bulk sourcing and technology-enabled project oversight are aiding DAMAC to meet its ambitious handover targets. Monthly quality and safety assessments measure project and contractor performance against defined benchmarks, supported by site inspections and corrective-action plans where required. Ahmad Marouf, a homeowner at DAMAC Lagoons, said: &nbsp;&quot;From the progress updates to the final inspection and handover, the process was well managed. Seeing the home and wider DAMAC Lagoons community come together was particularly rewarding. The quality of the residence, landscaping and family-focused amenities reflects what was promised, and my family and I are happy to call this vibrant community home.&quot; 1 Dubai's real estate sector completes 104 projects valued at over AED111 billion in H1 2026 2 MARKETBEAT- Residential Q2 2026, Dubai, UAE | Cushman &amp; Wakefield Core <div class="PRN_ImbeddedAssetReference" id="DivAssetPlaceHolder0"> </div>

DAMAC achieves handover of 50,000 homes, with 55,000+ in pipeline and USD 2.72 bn in H1 2026 construction awards

Latest news from the world of business and finance – both local and global

MONEY FM 89.3 is Singapore's first and only Business and Personal Finance station, featuring local and international business and financial news.

MONEY FM 89.3

Discover newsletters from our DJs on LinkedIn