The DAMAC Properties developer has been leading the construction of significant real estate developments in the Middle East for almost 20 years. The company forms the premium property market and builds shopping and recreational centers in the UAE, Jordan, Saudi Arabia, Qatar, Turkey, Lebanon and the UK. As of June 30, 2021, DAMAC Properties has completed more than 35,000 projects, with another 30,000 projects under construction underway today. The company was founded in 2002 when the Dubai government opened the real estate market to international investors and allowed them to own property on freehold rights. According to the founder of the company Hussain Sajwani, the mission of DAMAC is to transform the UAE into a global center of trade, hospitality and lifestyle. DAMAC Properties is one of the leading developers of premium residential, commercial and entertainment projects in the world. The company received the title of “The Best Golf Development in the World”, due to its DAMAC Hills golf community project, which was built around the 18-hole Trump International Golf Club. And in September 2021, the Trump Golf Club became the winner of the “Travelers’ Award Choice”, which indicates the development of the UAE as a tourist center and attraction for foreign investors in the country.
History of DAMAC Properties
The company was founded by Hussain Sajwani in 2002, when the Dubai government opened the real estate market to foreign investors. Over 20 years, Damac has delivered more than 39,400 homes. Currently, the DAMAC Properties portfolio includes 28,000 properties of various purposes under planning and construction. The brand, which grew up in the Emirates, has achieved recognition on the international arena.
The developer DAMAC Property itself is engaged in the design of objects, design, marketing, sales and property management. The company has properties in Downtown, Business Bay, Dubai Marina and other areas of Dubai.
DAMAC Properties is a socially responsible company. Thus, in 2020, the Hussain Sajwani-DAMAC Foundation donated AED 3 million to the Arab Hope Makers initiative. It helps people who are struggling with social and environmental problems and find new solutions in the field of healthcare. DAMAC also supported the initiative to help families affected by COVID-19.
DAMAC Properties' Landmark Projects
DAMAC Towers by Paramount Hotels & Resorts
A luxury complex from DAMAC Properties Dubai consisting of 4 towers in the Business Bay area. One of the skyscrapers is occupied by a hotel. The others house 1,200 apartments. The apartments and hotel rooms are fully furnished. Prices start from $217,500.
DAMAC Hills
An ambitious project by DAMAC Properties in the Dubailand area. The community is being built around an international golf club. The developer offers plots for construction with views of the golf course or ready-made villas. Villas and townhouses are in great demand. Townhouses in Portofino are in great demand - these buildings are built in the Italian style and cost from $417,000. Nearby are Spanish-style villas Costa Brava, Mediterranean Santorini and other luxury housing.
Safa One
This is a future project of DAMAC Properties Dubai, which will be launched in March 2022. The duo of two towers will be located near Safa Park. The design is inspired by the necklace of Swiss jeweler Fawaz Gruosi. Hanging gardens will be scattered along the facade to emphasize the unity with nature. The complex will have apartments with 1-5 bedrooms.
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