DAMAC Properties

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DAMAC Properties
Public joint-stock company
Traded asDFMDAMAC
Founded2002
HeadquartersDubai, United Arab Emirates
Key people
Hussain Sajwani(Owner and Chairman) [-2018]
ProductsReal estate
Revenue$ 1.947 billion (2016)
Number of employees
circa 2,000 (2017)
ParentDAMAC Group
Subsidiaries
WebsiteDAMAC Properties

DAMAC Properties is a property development company, based in Dubai, in the United Arab Emirates. In January 2015, DAMAC Properties was publicly listed on the Dubai Financial Market. [1]

History[edit]

The Company was established in 2002, and is part of the DAMAC Group, formed in 1992, by Hussain Sajwani, the owner and chairman.

In December 2013, DAMAC was the first real estate company from the Middle East to list on the London Stock Exchange [2] (LSE) through a global depository receipts programme, which 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.

In January 2015, DAMAC Properties listed on the Dubai Financial Market (DFM),[3] its home market exchange.

Projects[edit]

DAMAC Properties has completed a number of residential, commercial and mixed-use projects across the UAE, Jordan, Qatar and the Kingdom of Saudi Arabia, with more in progress in those regions as well as Lebanon, Oman and the United Kingdom.

The Company has also released two master developments in Dubai, totalling nearly 100 million square feet between them. DAMAC Hills (formerly AKOYA by DAMAC)[4] 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 [5] was opened in February 2017 by guests of honour Donald Trump Jr and Eric Trump. The second development, AKOYA Oxygen,[6] boasts another world-class golf course by Tiger Woods [7] Design, the Trump World Golf Club Dubai.[8] It is also home to branded villas from Just Cavalli, along with a retail, dining and entertainment offering.

DAMAC Hills[edit]

DAMAC Hills is a golf community development located in Dubailand. The 42-million-square-foot development comprises branded mansions, villas, townhouses and apartments, in addition to entertainment and retail facilities, and most recently launched, a Radisson Hotel. DAMAC Hills, built around the 18-hole Trump International Golf Club Dubai, was named ‘Best Golf Development [9] in the World' at the International Property Awards in London in recent years; and in 2016 received a 'highly commended' recognition for 'Best Golf Development' in the Africa and Arabia Property Awards hosted in Dubai.[10]

Hospitality[edit]

DAMAC Hotels & Resorts heads the hospitality element of the Company’s portfolio, which operates hotels, hotel apartment complexes and serviced villas, under the following brands:

  • DAMAC Maison Royale The Distinction
  • DAMAC Maison Mall Street
  • DAMAC Maison Canal Views
  • DAMAC Maison Cour Jardin

External links[edit]

References[edit]

  1. ^ https://www.zawya.com/mena/en/stock/1003015/damac-properties-dubai-co-pjsc/DAMAC.DU/
  2. ^ "Dubai developer DAMAC plans $500 million London share listing". Reuters UK.
  3. ^ "Shares in Dubai developer DAMAC to begin trading Monday on DFM | The National". The National.
  4. ^ "Dubai developer renames Trump golf community 'DAMAC Hills' – Middle East Construction News". Middle East Construction News.
  5. ^ "Trump's sons in Dubai to open Trump International Golf Club | The National". The National.
  6. ^ "DAMAC says first AKOYA Oxygen homes sell out 'in record time'". Arabian Business.
  7. ^ "Trump World Golf Club Dubai - TGR Design". TGR Design.
  8. ^ "Trump World Golf Club Dubai, UAE". www.trump.com.
  9. ^ "AKOYA by DAMAC honoured in London". www.khaleejtimes.com. Khaleej Times.
  10. ^ Reports, Gulf News Journal. "DAMAC Properties wins four Africa and Arabia Property Awards". Gulf News Journal.