Gems Estates phase 2 By Damac

Key facts

Handover (past)

Q3 2024

Status

Ready

Ownership

freehold

Property types

villa

Availability

Available

Payment plan

Available units

Amenities

• Landscaped Gardens
• Gymnasium
• Restaurants
• Indoor Swimming Pool
• CCTV Security
• Barbecue Area
• Children's Play Area

Location

Gems Estates phase 2 By Damac sits in Damac Gems Estates 2.

Master plan

The developer’s own site plan for Gems Estates phase 2 By Damac, showing how the buildings, roads and open space sit together.

How Gems Estates phase 2 By Damac compares

Entry here is AED 24M, against a median of AED 24M across the 3 priced projects in Damac Gems Estates, which puts it above 1 of them and below 1. The plan opens at 20% down, against a Dubai median of 10%, so it asks 10% more up front than the typical plan. Handover lands in Q3 2024, alongside 38 other projects completing in the same quarter. Damac Properties has 167 projects in our catalogue, 3 of them in Damac Gems Estates.

Measured across our own catalogue of Dubai off-plan projects, refreshed with the source listings. Entry price is the lowest advertised unit price in a project, not an average transaction value.

What you pay, and when

The published payment plan is 20% on booking, 40% during construction and 40% at handover. At the AED 24,112,000 entry price, that is AED 4,822,000 to reserve a unit, AED 9,645,000 across the build, and AED 9,645,000 due on completion.

Dubai Land Department registration is charged at 4% of the purchase price on top, which is about AED 964,000 at this entry price. That 20% booking payment does not go to Damac Properties directly: under Dubai's Law 8 of 2007 a registered project holds it in a RERA-supervised escrow account, drawn down against certified construction progress.

What the entry price works out at

The cheapest unit with a published size is 4,059 square feet at AED 24,112,000, which works out at AED 5,940 per square foot. Stated sizes run from 4,059 to 24,550 square feet.

Handover and construction

Gems Estates phase 2 By Damac handed over in Q3 2024.

Ownership and residency

Gems Estates phase 2 By Damac is a freehold development, so a buyer of any nationality can own a unit outright and hold the title deed. The entry price is at or above the AED 2,000,000 property threshold for the 10 year UAE golden visa, so the cheapest unit in the development qualifies on its own.

Who it suits

The development is villas in 5 to 7 bedroom layouts. Every layout is 5 bedrooms or more and the site has children's facilities, which is family stock rather than investor stock.

What is on site

Shared facilities recorded for Gems Estates phase 2 By Damac are the standard Dubai block: landscaped gardens, gymnasium, restaurants, indoor swimming pool, CCTV security, barbecue area and children's play area. 5 floor plans are published for it.

Frequently asked