Iconic DIFC property Burj Daman set for drastic price increase

Iconic DIFC property Burj Daman set for drastic price increase

- 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