Monte Carlo at DAMAC Lagoons

Reminiscent of the French Riviera, Monte Carlo is the ninth phase of the ever popular DAMAC Lagoons community by DAMAC Properties. The new project was presented in Q4 2022 and offers a selection of cozy 2 and 3-storey townhouses in 4 and 5 bedroom configurations.

The beautifully crafted properties will be designed to provide the utmost comfort and convenience, thanks to a carport, a maid’s room, a garden, balcony, 1 or 2 terraces, a storage/laundry room, a patio and other key amenities. At the same time, the interiors of the Monte Carlo townhouses will be complemented with bright white walls, high ceilings, double-height windows and sleek wooden features, all of which will aim to create a sophisticated look.

The initial acquisition cost for a property in Monte Carlo is AED 1,900,000 (USD 517,000).

When living in Monte Carlo, you will be treated to a myriad of world-class resort-like amenities, which will be perfect for the entire family. In addition, you will have full access to various offerings across the other DAMAC Lagoons communities, including Santorini, Costa Brava and Malta, among others. That being said, the master plan includes an AR nature island, waterside cafes, an Aqua Wall for climbing, fashion and art boutiques and much more.

If you are planning to buy a townhouse in Monte Carlo to rent out, and are keen to find out the approximate income, it is worth taking a look at the indicators in DAMAC Hills, which is located nearby. According to Property Finder, as of Q4 2022, completed townhouses in 4-bedroom configurations in this neighbourhood generate an average gross yield of 10.2%, which is a very high indicator. The starting rental price, meanwhile, amounts to AED 195,000 (USD 53K) per annum.

Additionally, once Monte Carlo is fully ready, you will be able to apply for a 3-year investor visa via the Taskeen Programme. In this case, the minimum qualifying amount constitutes AED 750,000 (USD 205,000). At the same time, real estate investments valued at AED 2,000,000 (USD 545,000) enable you to obtain a 10-year Golden Visa, with the help of which you can bring not only your family, but also, domestic staff, an advisor and an executive to the UAE.