• Golnaz.zadegan@allegiance.ae

About Damac

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About Damac

January 16, 2023

DAMAC Properties is an Emirati property development company, based in Dubai, in the United Arab Emirates. In January 2015, DAMAC Properties was publicly listed on the Dubai Financial Market. The company operates internationally providing residential, commercial and leisure properties and has presence in the UAE, Saudi Arabia, Qatar, Jordan, Lebanon, Iran, Oman, and the United Kingdom.



The company was established on 28 January 2002, and is part of the DAMAC Group, formed in 1982, by Hussain Sajwani, the owner and chairman. In December 2013 DAMAC became the first real estate company from the Middle East to list on the London Stock Exchange (LSE) through a global depository receipts programme. The program raised US$379 million in the form of an IPO. Following an offer to exchange its outstanding Global Depository Receipts (listed on the LSE) for Ordinary Shares (listed on the DFM), DAMAC began trading in Dubai on 12 January 2015. The GDRs were subsequently de-listed in March 2015.



The company has released two master developments in Dubai, totaling nearly 100 million square feet between them. DAMAC Hills offers a mix of horizontal and vertical community living set around the championship-standard Trump International Golf Club Dubai and nearly four million square feet of private parkland. Trump International Golf Club Dubai was opened in February 2017 by guests of honour Donald Trump Jr. and Eric Trump. The second development, AKOYA has another golf course by Tiger Woods Design, the Trump World Golf Club Dubai.

In January 2017, DAMAC Properties had awarded more than 370 contracts worth AED 3.5 billion. The contracts included construction, supplier and consultancy services across its portfolio of developments.The company assigned over $1.5 billion to its flagship project Akoya in June 2018.

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