DAMAC Properties Achieves Handover of Over 50,000 Homes with Strong Construction Pipeline
DAMAC Properties has handed over more than 50,000 homes in the UAE and is on track to deliver an additional 8,800 residential units by year-end across several key developments. The company reported USD 2.72 billion in construction contracts awarded during H1 2026, supporting its delivery goals despite global supply chain challenges. The firm emphasized disciplined project management and operational resilience as critical to maintaining progress amid geopolitical pressures. DAMAC Lagoons is the largest component of this year's handovers with over 6,300 homes expected in 2026 compared to just 513 delivered in 2025. The broader Dubai market has seen a significant increase in residential completions—over 25,000 units were handed over during the first half of 2026 alone. DAMAC is also advancing handovers at DAMAC Hills and its high-rise developments like Chic Tower and Elegance Tower.
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Topics: project delivery residential development UAE real estate market