There are many stories circulating about DAMAC Riverside, a new real estate project in Dubai, which is supposedly completely sold out. Some agents even claim that you are too late and should already regret not having bought anything. But is that really the case?
The confusion began immediately after the project was presented as “fully sold out” following one of the grand launch parties. Simultaneously, some people received phone calls afterwards with offers to still get involved. Notably, these calls did not always originate from the United Arab Emirates itself, but from places like Kuwait. This makes it difficult for many people to believe what is really happening.
What is likely happening: a project being “sold out” does not automatically mean that there is absolutely nothing left available. Agents often use this term to create urgency and artificially drive up demand. Afterwards, properties are then offered through so-called “last-minute cancellations” or “exclusive units”. It is a well-known sales strategy, especially in Dubai’s fast-growing real estate market.
Furthermore, large investors often buy in bulk and then try to resell those units at a profit. This sometimes results in properties becoming available again, albeit through other channels. This explains why you might still be approached, even if the project has been officially declared sold out.
Why the Confusion and What Can You Do About It?
The phone calls from other countries like Kuwait could be related to local regulations. In the UAE, there are strict rules regarding unsolicited calls (DND: Do Not Disturb), which leads agents to choose to call via foreign numbers. However, this does not make the process more transparent for the buyer.
The lesson? Do not get carried away by marketing language and flashy events. Conduct your own research, and do not blindly trust the words of agents who claim you have the last chance. While DAMAC Riverside may be popular, it does not mean it is impossible to still secure a property, or that everything is always presented quite honestly.
Edward Clarke is a seasoned property expert with extensive experience in international real estate investment, with a particular focus on Dubai’s fast-growing property market. Drawing on both personal investment experience and years of client advisory work, he helps investors make informed, realistic decisions when purchasing apartments, villas or off-plan developments in Dubai. With a pragmatic mindset, a sharp focus on returns and a strong commitment to transparency, Edward is a trusted point of contact for anyone considering a property investment in Dubai.
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