Villa V75 in Portofino, DAMAC Lagoons – 13,000 sq ft, Ready for Handover

Property Overview

This is a large villa, unit V75, in the Portofino cluster of DAMAC Lagoons, Dubai, offered at AED 21,000,000 with a stated built-up area of 13,000 sq ft on a 17,000 sq ft plot, or approximately AED 1,615 per sq ft of built-up area. The listing agent describes it as a super deal, states that 70% has been paid and says the villa is ready for handover.

Property Highlights

• Project: Portofino cluster, DAMAC Lagoons, by DAMAC Properties
• Unit: Villa V75
• Property type: Villa
• Built-up area: 13,000 sq ft (agent-stated)
• Plot size: 17,000 sq ft (agent-stated)
• Asking price: AED 21,000,000
• Calculated rate: approximately AED 1,615 per sq ft of built-up area
• Amount paid to date: 70% (agent-stated)
• Status: ready for handover (agent-stated)

Why This Listing Is Classified as Off-Plan Distress

The agent presents this as a super deal on a villa that has reached the handover stage with 70% paid. No original purchase price, DLD transaction or dated market comparison was supplied, so DPF has not calculated a discount. The listing is classified as an off-plan distress resale because, on the agent's account, handover has not yet taken place and a balance remains due to the developer.

The figure DPF can confirm is the asking rate of about AED 1,615 per sq ft of built-up area. Buyers should request the seller's SPA, including the original purchase price, and compare recent registered transactions for large Portofino villas before making an offer.

About the Project, Developer and Community

Portofino is an Italian Riviera-themed cluster within DAMAC Lagoons, a waterfront townhouse and villa community by DAMAC Properties in the Dubailand area. The cluster combines three- to five-bedroom townhouses with larger waterfront villas.

DAMAC Lagoons is planned around a series of lagoons, with community features described in project materials including lagoon beaches, waterside cafés and retail, and family recreation areas. Buyers should confirm the delivered amenities with DAMAC.

Size and Layout

The agent states a built-up area of 13,000 sq ft on a 17,000 sq ft plot. Public descriptions of the Portofino cluster give a smaller maximum built-up area for its largest homes, so these figures should be checked against the SPA and title documents. The bedroom count, bathroom count, parking and floor plan were not supplied.

Payment Status and Handover

The agent states that 70% of the original price has been paid and that the villa is ready for handover. The remaining 30%, and any handover fees or service charges, should be confirmed from DAMAC's statement of account and handover notice before an offer is made.

Location and Connectivity

DAMAC Lagoons sits in the Dubailand district with road access towards Sheikh Mohammed Bin Zayed Road. Specific travel times and distances have not been verified for this listing.

Verification Notes

• Agent-supplied facts: cluster, unit reference, property type, built-up area, plot size, asking price, 70% paid, ready-for-handover status and super-deal description.
• DPF-calculated figure: approximately AED 1,615 per sq ft of built-up area.
• External research: developer, cluster theme and community context checked against public listings.
• Not supplied: bedrooms, bathrooms, parking, view, original purchase price and outstanding balance.
• The stated built-up area exceeds publicly described maximum sizes for the cluster and should be verified.