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DAMAC Properties
Type Public joint-stock company

Traded every bit

 DFM: DAMAC
Founded 28 Jan 2002; xx years ago  (2002-01-28)
Headquarters Dubai, United Arab Emirates

Central people

 Hussain Sajwani (owner and chairman) [-2018]
Products Real estate
Revenue $ 1.660 billion (2018)[1]

Number of employees

 circa 1,600 (2018)
Parent DAMAC Grouping
Subsidiaries
  • DAMAC Hotels & Resorts
  • DAMAC International
Website DAMAC Properties

DAMAC Properties is an Emirati holding development company, based in Dubai, in the United Arab Emirates. In Jan 2015, DAMAC Properties was publicly listed on the Dubai Financial Market.[2] The company operates internationally providing residential, commercial and leisure properties and has presence in the UAE, Saudi Arabia, Qatar, Jordan, Lebanon, Oman, and the Uk.[iii] [4]

Finances [edit]

In the year 2017, the total revenue recorded by DAMAC backdrop was AED 7.five billion.[v] In 2018, DAMAC Properties recorded full revenue of AED 6.ane billion.[1]

History [edit]

The company was established on 28 January 2002, and is office of the DAMAC Grouping, formed in 1992, by Hussain Sajwani, the possessor and chairman. In December 2013, DAMAC was the start real estate company from the Middle East to listing on the London Stock Substitution[6] (LSE) through a global depository receipts plan, which raised US$379 million in the form of an IPO. Following an offering to commutation 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.[7]

Projects [edit]

The company has released two master developments in Dubai, totaling nearly 100 1000000 foursquare anxiety betwixt them. DAMAC Hills[viii] offers a mix of horizontal and vertical community living set around the championship-standard Trump International Golf Order Dubai and nearly four million foursquare feet of private parkland. Trump International Golf Guild Dubai[nine] was opened in Feb 2017 by guests of honor Donald Trump Jr. and Eric Trump. The second development, AKOYA[10] [eleven] has another golf class past Tiger Woods[12] Design, the Trump World Golf Club Dubai.[thirteen]

In January 2017, DAMAC Properties had awarded more than 370 contracts worth AED iii.v billion. The contracts included structure, supplier and consultancy services beyond its portfolio of developments.[14] [fifteen] The company assigned over $1.5 billion to its flagship project Akoya in June 2018.[16]

DAMAC Hills [edit]

DAMAC Hills is a golf community development located in Dubailand. The 42-1000000-square-pes customs comprises branded villas, townhouses and apartments, in addition to amusement and retail facilities, along with a Radisson Hotel. The hotel will exist located on the Trump International Golf Club Dubai at DAMAC Hills.[17] [18] and will take two restaurants, facilities consisting of a gym, spa, kids guild and an outdoor swimming pool, and meeting space covering 600m2.[19]

As of Dec 2019, roughly 4,000 units were delivered at DAMAC Hills, along with a customs middle and a ii,000-square-meter-skatepark.[twenty] DAMAC Hills, built effectually the 18-hole Trump International Golf Club Dubai, was named "Best Golf game Development in the World" at the International Property Awards in London in recent years;[21] and in 2016 received a "highly commended" recognition for Best Golf Development in the Africa and Arabia Belongings Awards hosted in Dubai.[22]

In Nov 2020, DAMAC hills launched UAE's first residential moving ridge pool.[23]

DAMAC Heights [edit]

DAMAC Heights is an 84-floor tower with 1–v-bedroom apartments located in Dubai Marina. The value of the property is estimated at US$654 meg and was handed over in July 2018.[24] [25]

DAMAC Towers past Paramount Hotels & Resorts Dubai [edit]

DAMAC Towers by Paramount is a four-tower development past DAMAC Properties in collaboration with Paramount Hotel & Resorts. The project comprises 2000 units with 1200 units across 3 residential apartment towers and 800 units in the Paramount Hotel tower. The holding located in Dubai'south Business Bay area has a full built-up surface area of 4 meg square anxiety and an estimated sales value of $1.35 billion.[26] The towers were handed over in July 2019.[27]

DAMAC Tower 9 Elms London [edit]

DAMAC Backdrop signed a £200 million contract with Lendlease in 2016 to build one of London's tallest residential towers.[28] At l floors, AYKON London One, now known as DAMAC Tower Ix Elms London,[29] is located in Ix Elms, on the south banking concern of the River Thames.[30] [31] The building was designed by Kohn Pedersen Fob Associates with interiors created in partnership Versace Home.[32] The project is valued at $758 1000000[33] and was topped out in 2019.[34]

AKOYA [edit]

In 2014, DAMAC Backdrop launched, AKOYA, a golf community in Dubailand covering 55 1000000 foursquare feet. Comprising clusters of residential villas, apartments, and retail and amusement facilities.[35]

The offset homes were handed over in AKOYA in June and will continue throughout 2019.[36] [37]

Mina Al Sultan Qaboos [edit]

In 2018, Sultanate of oman Tourism Development Company partnered with DAMAC Backdrop for the redevelopment of the Port Sultan Qaboos into a waterfront mix utilise destination.[38] The project was going to be being redeveloped into tourist port and lifestyle destination that includes hotels, residences, and a dining, retail, leisure and community facility.[39] The overall toll of the project was estimated at Usa$2 billion.[40]

In July 2020, it was decided that DAMAC Backdrop would transfer its shares in their entirety to OMRAN.[41]

Ghalia [edit]

In 2019 DAMAC completed the development of named Ghalia, a project with 727 apartments in a Sharia-compliant development, located in the Jumeirah Village Circle in Dubai.[42]

Dubai Business Bay [edit]

In 2019, DAMAC Backdrop announced the launch of its new project, Zada, an accessible luxury offering in Dubai'due south Concern Bay expanse.[43]

Hospitality [edit]

DAMAC Hotels & Resorts
Type Private
Manufacture Hospitality
Founded 2011
Headquarters

Dubai

,

United Arab Emirates

Central people

 Hussain Sajwani (Standard arabic:حسين سجواني,) (chairman)
Parent DAMAC Properties
Website https://www.damachotelsandresorts.com/

DAMAC Hotels & Resorts heads the hospitality chemical element of the visitor's portfolio, which operates hotel apartment complexes. DAMAC Hotels & Resorts was founded in Oct 2011.

Its brands include:[44] [45] [46] [47] [48]

  • DAMAC Maison Distinction: This projection was DAMAC'south 6th hotel under their hospitality arm DAMAC Hotels and Resorts[49]
  • DAMAC Maison Mall Street
  • DAMAC Maison Canal Views
  • DAMAC Maison Cour Jardin

The portfolio of hotels provide 24-hr check-in service and other family-friendly services.[50]

DAMAC Maison Dubai Mall Street [edit]

Dubai Mall Street, DAMAC Maison's kickoff serviced hotel apartment project, opened in December 2013. It was designed by German architects Koschany & Zimmer, and located in downtown Dubai opposite to The Dubai Mall.[51] [52] [53] [54] [55] [56]

DAMAC Maison Culvert Views [edit]

Canal Views is DAMAC Maison's second hotel belongings project launched along with Dubai Mall Street in December 2013, also located in downtown Dubai.[57] Canal Views looks over the Business Bay water canal and the Burj Khalifa.[58]

DAMAC Maison Cour Jardin [edit]

Cour Jardin is located in Business Bay, Dubai, and opened in December 2014.[59] [sixty] [61]

The Stardom [edit]

In September 2017, DAMAC Hotels and Resorts opened The Stardom. The Distinction is located in downtown Dubai.[62]

CSR [edit]

DAMAC Properties is known to support the campaigns of His Highness Sheikh Khalifa bin Zayed Al Nahyan, president of the UAE, and the efforts of the UAE Red Crescent, including a donation of AED ii million to the "clothe a child" entrada, AED one million to the UAE Suqia (Water Assist) programme and a further AED one million to help build a loftier-tech care facility for the Dubai Autism Middle.[63]

In 2014, DAMAC Heights won the "All-time International Residential High-rise Compages" at the International Property Awards.[64]

In 2015, DAMAC Properties donated AED ane million to the UAE Red Crescent, who was then delivering help to support refugees in Jordan and Lebanon hit by the "Huda" across the Levant region.[65]

In 2017, DAMAC Charitable Foundation offered sponsorship and support to 1 Million Arab Coders, an initiative by the UAE government to assist further education and evolution in the UAE. Upon its launch, i.ane one thousand thousand applicants were registered with 22,000 graduates by the stop of 2018.[66] [67] [68]

In Feb 2020, Hussain Sajwani, on behalf of the Hussain-Sajwani-DAMAC Foundation pledged AED3 1000000 towards the construction of the Magdi Yacoub Global Centre Middle in Arab republic of egypt during the grand finale of the Arab Hope Makers 2020.[69]

In April 2020, the Hussain Sajwani-DAMAC Foundation pledged Dh 1 1000000 to provide food to those affected by COVID-19 pandemic in the UAE. The donation was made to the '100 million meals' campaign.[70]

Awards and Recognition [edit]

DAMAC properties has won 5 awards in unlike categories at the Arabian Property Awards 2017, held in Dubai: Best Residential High-ascent Evolution for AYKON Urban center, Best Mixed-utilise Evolution for DAMAC Hills, Best Hotel Interior for DAMAC Towers by Paramount Hotels & Resorts, Best Developer Website and Best Hotel Compages for Paramount Tower Hotel & Residences.[71]

In 2017, Ali Sajwani, son of DAMAC's founder and chairman, Hussain Sajwani, was recognised as a Future Leader at the Arabian Business Achievement Awards organised by Arabian Business organization.[72]

DAMAC Backdrop was ranked at number i on the Forbes Global 2000 List of Growth Champions, making information technology the fastest growing company worldwide among the top two,000 listed by Forbes.[73]

The company'southward facilities direction arm, Luxury Owner Clan Management Services LLC (LOAMS) was recognised by The Dubai Country Department (DLD) for its excellence in managing the facilities of numerous properties.[74]

DAMAC Towers by Paramount Hotels & Resorts was awarded the "Residential Project of the Year" award at the CW Awards 2018.[75]

In 2019 DAMAC won the International Business Magazine Awards.[76]

In 2020, DAMAC won the International Business Magazine laurels for "Most Socially Responsible Real Estate Visitor UAE".[77]

Financial Functioning [edit]

Damac Properties has posted losses of over AED1 billion ($272m) for 2020.[78]

External links [edit]

  • DAMAC Properties

References [edit]

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  3. ^ "Stocks". Bloomberg. 7 February 2019. Retrieved 24 Feb 2020.
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  78. ^ "Damac reveals over one billion dirhams in losses for 2020".

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Source: https://en.wikipedia.org/wiki/DAMAC_Properties

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