All Details About DAMAC 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.[2] The company operates internationally providing residential, commercial and leisure properties and has a collective presence in the UAE, Saudi Arabia, Qatar, Jordan, Lebanon, Oman, and the United Kingdom. [3]
DAMAC Properties has delivered over 24,000 homes, with a development portfolio of more than 40,000 units including 10,000 hotel rooms, serviced hotel apartments and hotel villas that are managed by its wholly owned DAMAC Hotels & Resorts.

Finances


In the year 2017, the total revenue recorded by DAMAC properties was AED 7.5 billion. The following year, DAMAC Properties recorded total revenue at AED 6.1 billion.

History


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  (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.

Projects


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) 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 (formerly AKOYA Oxygen)  boasts another world-class golf course by Tiger Woods Design, the Trump World Golf Club Dubai. It is also home to branded villas from Just Cavalli, along with a retail, dining and entertainment offering.
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 Oxygen in June 2018.

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