DAMAC City 2: off-plan project in Dubai Water Canal
DAMAC City 2 is an off-plan residential apartment project in Dubai Water Canal, registered with the Dubai Land Department as project no. 3001 and developed by Pinnacle Real Estate Developments L.L.C. From October 16, 2025 to October 16, 2026, 281 off-plan sales were registered there at a median price of AED 2,233,420 (AED 3,015 per sq ft); 80% of sales fall between AED 1,289,680 and AED 3,473,280.
- 281off-plan sales in 12 months
- AED 2,233,420median sale price
- AED 3,015median price per sq ft
- 0.1%construction progress (DLD)
- 725registered units
Source: Dubai Land Department open data, sales registered from 16/10/2025 to 16/10/2026. Source: Dubai Land Department project register (open data), as of 15/06/2026.
What the figures say
- Positioning: at AED 3,015 per sq ft, DAMAC City 2 is in line with the median of off-plan sales across the 3 projects tracked in Dubai Water Canal (AED 3,015 per sq ft), and 70.6% above the median of Dubai off-plan sales (AED 1,768 per sq ft).
- Sales pace: 281 off-plan sales in 12 months, about 23 a month; the best-selling project in Dubai Water Canal over the period.
- Construction: 0.1% complete in the DLD register, construction had not started at the latest inspection.
- Profile: the best-selling type (apartment · 1 bedroom) makes up 59.1% of sales, alongside 3 other types.
DAMAC City 2: official project sheet
Details from the project register kept by the Dubai Land Department. Off-plan payments go to the project's escrow account, as required by Dubai Law No. 8 of 2007.
| Item | DLD register |
|---|---|
| DLD project number | 3001 |
| Registered developer | Pinnacle Real Estate Developments L.L.C (developer no. 1553) |
| Master developer | Meraas Estates (L.L.C) |
| Community (master project) | Dubai Water Canal |
| DLD area | Al Wasl |
| Register status | not started |
| Construction progress | 0.1% |
| Project start | June 26, 2024 |
| Registered units | 725 units |
| Buildings | 1 |
| Escrow account | escrow agent registered with the DLD for this project |
Source: Dubai Land Department project register (open data), as of 15/06/2026.
DAMAC City 2 off-plan prices by unit type
Off-plan sales over the last 12 months, at least 3 sales per row. Entry ticket observed: apartment · studio, at a median AED 1,305,500.
| Unit type | Sales | Median price | Range (AED) | Median size | Price / sq ft |
|---|---|---|---|---|---|
| Apartment · Studio | 66 | AED 1,305,500 | 1,198,000 – 1,402,000 | 37 m² (398 sq ft) | AED 3,304 |
| Apartment · 1 bedroom | 166 | AED 2,262,000 | 2,097,090 – 2,549,740 | 71 m² (764 sq ft) | AED 2,959 |
| Apartment · 2 bedrooms | 48 | AED 3,556,225 | 3,062,253 – 4,049,388 | 117 m² (1,259 sq ft) | AED 2,721 |
Source: Dubai Land Department open data, sales registered from 16/10/2025 to 16/10/2026.
To turn one of these prices into a payment schedule, use OffPlanSimulator's off-plan payment plan calculator, then add registration fees with the Dubai buying costs calculator.
Sales by unit type
Apartment · 1 bedroom: 59.1% of off-plan sales, with a median size of 71 m² (66 to 80 m² for 80% of them).
- Apartment · 1 bedroom: 59.1% (166 sales)
- Apartment · Studio: 23.5% (66 sales)
- Apartment · 2 bedrooms: 17.1% (48 sales)
- Apartment · 5+ bedrooms: 0.4% (1 sales)
Source: Dubai Land Department open data, sales registered from 16/10/2025 to 16/10/2026.
DAMAC City 2 off-plan price by quarter
The median off-plan price per sq ft moved from AED 2,986 in Q2 2025 to AED 3,027 in Q3 2026 (+1.4%). Quarter-to-quarter changes also reflect the mix of units sold.
| Quarter | Off-plan sales | Median / sq ft | Change |
|---|---|---|---|
| Q2 2025 | 118 | AED 2,986 | — |
| Q3 2025 | 148 | AED 3,057 | +2.4% |
| Q4 2025 | 126 | AED 3,042 | -0.5% |
| Q1 2026 | 75 | AED 3,002 | -1.3% |
| Q2 2026 | 50 | AED 2,910 | -3.1% |
| Q3 2026 | 49 | AED 3,027 | +4% |
| Q4 2026 (to 16/10/2026) | 11 | AED 3,156 | — |
Source: Dubai Land Department open data, off-plan sales registered since 1 January 2024, as of 16/10/2026.
Rents in Dubai Water Canal
To gauge the rental market around DAMAC City 2: annual rents of Ejari contracts registered in Dubai Water Canal over the last 12 months (324 contracts).
| Unit type | Contracts | Median annual rent | Middle 50% range |
|---|---|---|---|
| Apartment · 1 bedroom | 66 | AED 151,000 | 140,000 – 178,497 |
| Apartment · 2 bedrooms | 215 | AED 211,585 | 200,000 – 240,000 |
| Apartment · 3 bedrooms | 37 | AED 350,000 | 269,093 – 737,500 |
To compare a market rent with your purchase price and running costs, the rental yield calculator works it through step by step.
Source: Dubai Land Department, Ejari rent contracts (open data), 20/10/2025 to 20/10/2026.
Where is DAMAC City 2?
DAMAC City 2 is in Dubai Water Canal (DLD area Al Wasl), Dubai.
Further reading
- All off-plan projects in Dubai Water Canal
- All DLD sales at DAMAC City 2 (new and resale)
- Dubai Water Canal property prices
- Dubai Water Canal rents
- All Pinnacle Real Estate Developments L.L.C projects
Other off-plan projects in Dubai Water Canal
- Eden House The Park — AED 4,023/sq ft
- DAMAC City — AED 2,232/sq ft
Same budget elsewhere in Dubai (around AED 2,233,420)
- Avenue Residence 7 By Nabni, Al Furjan — AED 2,231,966
- Edgewater Residences 3, Palm Deira — AED 2,236,282
- Cilia, Wadi Al Safa 4 — AED 2,223,500
- Amaal 8, Ras Al Khor Industrial First — AED 2,237,589
- Parkside Views, Dubai Hills Estate — AED 2,220,000
- Eltiera Views, Jumeirah Islands — AED 2,237,828
Projects presented by Cevitas
Frequently asked questions
How much does a home at DAMAC City 2 cost?
Over the last 12 months, the 281 off-plan sales registered with the DLD show a median price of AED 2,233,420, or AED 3,015 per sq ft; 80% fall between AED 1,289,680 and AED 3,473,280. The developer's current prices are on its price list.
When will DAMAC City 2 be completed?
In the DLD project register (as of 15/06/2026), the project is "not started", 0.1% complete. The handover date is confirmed by the developer.
Who is the developer of DAMAC City 2?
The DLD register lists Pinnacle Real Estate Developments L.L.C (developer no. 1553), in a community developed by Meraas Estates (L.L.C).
What unit types are sold at DAMAC City 2?
Off-plan sales over the last 12 months cover: apartment · 1 bedroom (166), apartment · studio (66), apartment · 2 bedrooms (48), apartment · 5+ bedrooms (1). Best-selling type: apartment · 1 bedroom, at a median AED 2,262,000 for 71 m².
Has the price per sq ft at DAMAC City 2 changed?
The median off-plan price moved from AED 2,986 per sq ft in Q2 2025 to AED 3,027 in Q3 2026, based on DLD-registered sales.
How do I get the DAMAC City 2 price list and payment plan?
Ask with the "Get the price list" button or on WhatsApp at +971 55 772 2710: a RERA-licensed Cevitas advisor sends you the available units, the developer's prices and the current payment plan, with no buyer commission on new launches.
Sources and method
Off-plan sales: Dubai Land Department "Real Estate Transactions" dataset (data.dubai), residential sales registered off-plan ("Off-Plan Properties") from October 16, 2025 to October 16, 2026. Median price = middle registered price; range = 80% of sales (10th to 90th percentile). Price per sq ft = price / registered area (1 m² = 10.764 sq ft).
Developer, status, progress and dates: DLD "Projects" register (data.dubai) and "Developers" register (data.dubai), extract as of June 15, 2026. Progress is the figure from the latest DLD inspection on record; the end date is the one declared in the register and may be updated by the DLD.
Rents: DLD "Rent Contracts" (Ejari) dataset (data.dubai), median annual rent of residential contracts over the last 12 months in the area.
Data published under the Dubai Open Data Licence and analysed by Cevitas Real Estate. They describe official transactions and an official register; they are not a valuation, a promise of return or investment advice. The developer's current prices are on its price list.