02/09/2026 04:10 AST
Damac Properties has handed over more than 50,000 homes and is targeting the delivery of over 8,800 additional residential units in 2026, as the Dubai developer accelerates construction across a pipeline of more than 55,000 homes.
The company awarded more than Dh10 billion worth of construction contracts during the first half of 2026, supporting deliveries across Damac Lagoons, Damac Hills, Damac Hills 2, Chic Tower and Elegance Tower.
The expansion comes as the number of homes being completed across Dubai continues to rise. Nearly 25,000 new homes were completed in the emirate during the first half of 2026, up 36 per cent from the same period last year, according to figures cited by Damac.
More than 13,200 units were delivered during the second quarter alone, with around 32,000 additional homes expected during the second half of the year.
6,300 homes at Damac Lagoons
Damac Lagoons will account for the largest share of the developer's 2026 handovers, with around 6,300 homes targeted for delivery, compared with about 513 in 2025.
Overall infrastructure, landscaping and related works at the community have passed 80 per cent completion. The development also includes around 177,000 square meters of water bodies, equivalent to approximately 141 Olympic-sized swimming pools.
At Damac Hills, around 85 per cent of the community has been completed and handed over, while approximately Dh3 billion worth of active projects remain across villas and towers.
Damac Hills 2 is expected to see more than 1,500 villas handed over during 2026. The 55-million-square-foot community currently has around 11,000 completed homes.
The company is also progressing with handovers at Chic Tower in Business Bay and Elegance Tower in Downtown Dubai.
More than 55,000 homes in pipeline
Damac has more than 55,000 units and over 100 million square feet of project area in planning and development.
The developer said it will focus on completing its targeted 2026 handovers while starting work under newly awarded construction packages that will support deliveries in 2027 and beyond.
Amira Sajwani, Managing Director of Damac Properties, said the ability to deliver projects at scale will become increasingly important as Dubai's residential market matures.
She said the more than Dh10 billions of construction contracts awarded during the first half of the year would help strengthen Damac's delivery platform and maintain momentum across its portfolio.
Mohammad Tahaineh Chief Project Officer at Damac Properties, said managing the company's next 55,000-plus homes would require close oversight of procurement, quality, contractor performance and construction activity, particularly amid pressures on global supply chains.
Khaleej Times
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