• Strategic Macro Play: Driven Properties acquires Burj Daman bulk portfolio with a healthy 8% cap rate
  • Strong Upside Potential: Company Founder & CEO Abdullah Alajaji foresees significant margin upside potential as Burj Daman's prices rise above AED 2,200/sq.ft.

Dubai, UAE: Driven Properties, a leading real estate brokerage, has made a bold prediction that the prices of apartments in the prestigious Burj Daman building in DIFC will surge by 40% based on recent acquisitions and a bullish market outlook.

In a rare example of institutional funds making large transactions in Dubai, Driven Properties recently purchased 56 units in Burj Daman from ADX-listed Eshraq Investments for AED 158 million. The apartments were bought for AED 1,567 per sq.ft. in a strategic move that Driven Properties Founder & CEO Abdullah Alajaji describes as "the perfect macro play on the Dubai real estate market."

"The acquisition of Burj Daman at or below replacement cost, combined with the projected growth in the esteemed DIFC area, presents a significant margin of safety and great upside potential as the market continues to grow," says Alajaji. "We see prices in Burj Daman rising upwards of AED 2,200 per sq.ft. in no time, a drastic 40% increase; the market is strong and the healthy 8% cap rate underlines this.”

Alajaji's bullish outlook aligns with the anticipated release of an array of 5-star hotels and branded residences in the DIFC area, which is expected to further drive demand and value appreciation in the community.

Driven Properties portfolio is rapidly expanding – in addition to the 56 units purchased in Burj Daman, the brokerage has also recently acquired several buildings in the Canal Front and City Walk areas worth over AED 1 billion.

One of the most reputable brokerages in the region, Driven Properties is recognized for its expertise in the luxury segment. The company is a member of Forbes Global Properties, an invitation-only consortium of leading real estate firms, reserved for only the 100 most elite in the world.

About Driven Properties

Driven Properties is a leading real estate brokerage based in Dubai, UAE. With a strong track record of acquisitions and a focus on luxury properties, Driven Properties is a trusted partner for investors and buyers in the competitive Dubai real estate market. For more information, please visit https://www.drivenproperties.com/.

Media Contact:
Schneider PR / Sara Aki / sara@schneider-pr.net