DAMAC Properties

DAMAC Executive Heights, 20th floor, Barsha Heights, Dubai, 2195, United Arab Emirates

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About DAMAC Properties

Summary

DAMAC Properties is a prominent Emirati real estate development company founded in 2002 by Hussain Sajwani. Based in Dubai, it is recognised for creating luxury residential and commercial properties across prime locations globally. The company initially faced criticism for poor-quality construction, particularly during its early years, and came close to collapse during the 2008 financial crisis.

DAMAC has developed iconic projects such as master communities and high-rise towers, with a strong emphasis on quality and exceptional amenities. The company has delivered over 48,000 units, with an additional 50,000 units in progress. With over 100 million square feet of land in planning, DAMAC continues to shape the urban landscape in the UAE and internationally.

The company’s founder, Hussain Sajwani, is a self-made billionaire and close associate of former US President Donald Trump. DAMAC has been linked to various controversies, including concerns about money laundering activities and its connections to cryptocurrency transactions. Despite these issues, the company’s growth trajectory continued, and in 2022, Sajwani took DAMAC private by purchasing remaining shares for AED 2.19 billion.

DAMAC’s efforts to establish itself as a global player have seen the company expand into new markets. In May 2025, it was confirmed as the front-of-shirt sponsor for Chelsea Football Club for the 2024-25 season.

History

DAMAC Properties, established in 2002 by Hussain Sajwani, is a leading luxury real estate development company based in Dubai, United Arab Emirates. The company has become one of the most recognised names in the Middle East property market, with a significant presence internationally. Its core focus is on high-end residential and commercial developments, master communities, and iconic towers that offer premium amenities and high-quality construction.

The journey of DAMAC Properties began with the vision of Hussain Sajwani, a self-made billionaire with a background in the catering and construction industries. Early on, DAMAC encountered challenges, including the 2008 global financial crisis, which severely impacted the property market. Despite these setbacks, DAMAC managed to navigate through these turbulent times and recover. The company’s resilience was tested further in the aftermath of the financial crisis, when many developments faced delays and a slowdown in demand. However, DAMAC emerged stronger and continued its expansion both within the UAE and internationally.

In the years following the crisis, DAMAC Properties grew rapidly, attracting significant investments and expanding its portfolio of projects. In 2013, the company made plans to raise around $500 million through a listing on the London Stock Exchange, marking a significant milestone in its growth.

DAMAC’s association with high-profile individuals, particularly its relationship with former U.S. President Donald Trump, attracted global attention. Sajwani and Trump have maintained a business partnership, with Trump receiving between $1 million to $5 million from DAMAC in 2016. The collaboration between the two parties included the development of luxury golf courses and properties under the Trump brand in Dubai.

In 2015, DAMAC went public, listing its shares on the Dubai Financial Market. The IPO was met with significant interest. However, in 2022, after years of strong growth, the company was delisted. Sajwani, who had retained a majority share in DAMAC, purchased the remaining shares for AED 2.19 billion ($595 million USD), taking the company private once again.

DAMAC has been involved in several major projects, including luxury residential towers, golf course communities, and expansive resort developments. It has delivered over 48,000 units, with 50,000 more units currently in progress or planning stages.

In 2025, DAMAC secured a prominent partnership as the front-of-shirt sponsor for Chelsea Football Club, marking the company’s first foray into sports sponsorship. This deal extended to the women’s team as well, showcasing DAMAC’s growing influence in various sectors.

Portfolio

DAMAC Properties developed a large residential community around the Trump International Golf Club in Dubai, which opened in February 2017. The project, initially called The Akoya, was later renamed DAMAC Hills. The partnership with The Trump Organisation began in 2013.

The golf course was designed by Gil Hanse, and the opening ceremony featured Donald Trump’s sons, Donald Jr. and Eric. This project, along with Trump’s business ties to DAMAC during his presidency, raised concerns about compliance with the U.S. Constitution’s Foreign Emoluments Clause.

Another significant project by DAMAC is Akoya Oxygen, located near a second Trump International Golf Course designed by Tiger Woods. This project is larger than DAMAC Hills and was announced in 2014, with homes starting to be sold that same year. It is part of the larger Dubailand development in Dubai.

By mid-2018, DAMAC had spent $1.5 billion on Akoya Oxygen, and in the first half of 2017, they awarded contracts worth AED 1.8 billion for its development. Major contracts included a $20 million infrastructure project awarded to China State Construction Engineering Corporation in 2018 and a $169 million construction contract given to Arabtec Construction in 2019.

DAMAC also owns Safa One and Safa Two, residential developments located at the edge of Safa Park, offering views of the Dubai Canal. Safa Two also has views of the Burj Al Arab and the Palm Jumeirah.

The DAMAC Hills development, located in Al Hebiah 3 in Dubailand, includes a hotel on the Trump International Golf Club. In 2020, the development launched the UAE’s first residential wave pool. Additionally, DAMAC Hills 2 was launched in 2014.

Another notable project is DAMAC Heights, a luxury residential tower in Dubai Marina. At 335 metres tall with 88 floors, it offers views of Palm Jumeirah and opened in 2018. Arabtec Construction was the primary contractor for this tower.

DAMAC Towers by Paramount is a four-tower development in partnership with Paramount Hotels & Resorts. The project consists of 2,000 units, with 1,200 units in three residential towers and 800 units in the Paramount Hotel tower.

In 2016, DAMAC signed a £200 million contract with Lendlease to build one of London’s tallest residential towers, now called DAMAC Tower Nine Elms London. Located in Nine Elms on the south bank of the River Thames, the 50-storey building was designed by Kohn Pedersen Fox Associates with interiors by Versace Home. The project, valued at $758 million, topped out in 2019.

In 2019, DAMAC also completed Ghalia, a Sharia-compliant development with 727 apartments located in the Jumeirah Village Circle in Dubai.

Leadership

Ali Sajwani (Managing Director)
Amira Sajwani (Managing Director)
Abbas Hussain Sajwani (Board Member)
Essa Ibrahim (Vice President – Investments)
SOFYAN KHATIB (Group Director)
SANDIP BHATT (Chief Investment Officer)
DANISH NAYAR (Senior Vice President – Investments and Acquisitions)
MP John (Chief Human Capital Officer)
Mohammed Tahaineh (General Manager – Projects)

Refrences

DAMAC Properties: Luxury Real Estate Developer Company | DAMAC Properties
DAMAC Properties | Wikipedia
DAMAC Properties | LinkedIn
DAMAC PROPERTIES | ABC Buildcon
Welcome to DAMAC | DAMAC Living
Damac – Dubai Property in India | Property Always
Damac Properties | Tanami Properties

DAMAC Executive Heights, 20th floor, Barsha Heights, Dubai, 2195, United Arab Emirates

Website https://damacproperties.com

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