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Dubai Construction Companies

Damac Properties LLC

Property Development

Updated 3rd Jun 2023

Damac Properties is a construction-related company operating in Dubai.

Key information

Services offered

Property Development

Year founded

1982

Website

http://www.damacproperties.com

Damac ended 2016 with $1bn (AED3.7bn) net profit and a 5% increase in total assets, up to $6.7bn (AED24.6bn) from $6.3bn (AED23.5bn) in 2015. In the first half of 2017 it recorded $435.5m (AED1.6bn) net profit.

Between August 2016 and July 2017 Damac completed Damac Tower in Beirut, a $236m (AED 866.9m) project; and the $120m (AED440.8m) Damac Maison Bay’s Edge.

During the same period Damac completed several clusters of villas and apartments with a value of $1.9bn (AED7bn) at the 3.9 million square-metre Damac Hills development.

Damac Properties In the news

Damac Properties teams up with DLD to simplify unit registrations
Construction Week, 2nd May 2023

DAMAC’s Safa One tower Progresses with Construction Milestone
Construction Business News, 24th Apr 2023

UAE property developer DAMAC sells $400 million Islamic bond
Gulf News, 20th Apr 2023

DAMAC launches Canal Heights 2 on Dubai Canal
Emirates News Agency, 4th Apr 2023

Contracts awarded for DAMAC Lagoons development
ME Construction News, 31st Mar 2023

Dubai’s Damac closes with net profit of Dh1.4b against 2021’s Dh528m loss
Gulf News, 16th Mar 2023

Damac awards contract for its Lagoons project
Khaleej Times, 8th Mar 2023

DAMAC hands over ZADA Tower project
Construction Business News, 23rd Feb 2023

Damac invests $1b in data centres to diversify business
Khaleej Times, 11th Feb 2023

DAMAC awards Dhs886m main works construction contract for Cavalli Tower
Gulf Business, 7th Feb 2023

Discover waterfront living at Damac Bay by Cavalli
Khaleej Times, 26th Jan 2023

DAMAC breaks Guinness record for the highest altitude skydiving fireworks displa…
Construction Week, 4th Jan 2023

Damac Lagoons adds Ibiza cluster to development
Gulf News, 28th Dec 2022

DAMAC Group Celebrates 40-Year Transformation Into One Of The Most Leading Brand…
Construction Business News, 14th Dec 2022

Damac to launch 'plenty more' projects after 'best performance on record'
The National, 14th Dec 2022

Dubai Canal to see exclusive ultra-luxury branded residences Cavalli Couture
Arabian Business, 8th Dec 2022

DAMAC Properties awards $74.3mn contract for main works of Nice cluster at DAMAC…
ME Construction News, 15th Nov 2022

Q&A: DAMAC on utilising technology, expanding its footprint, and launching its f…
Construction Week, 31st Oct 2022

Main works package will be awarded soon for Cavalli Tower project says DAMAC
ME Construction News, 21st Oct 2022

Cavalli Tower Taking Shape As DAMAC Tendering For Main Works Package
Construction Business News, 18th Oct 2022

DAMAC Properties awards contract for electrical substations to Danway EME
ME Construction News, 13th Oct 2022

Damac Properties unveils luxury tower featuring interiors by jeweller de Grisogo…
The National, 13th Oct 2022

Damac expects strong occupancy rates at its hotels as it seeks to boost UAE port…
The National, 19th Sep 2022

Ultra-luxurious mansion development added to DAMAC Hills
ME Construction News, 16th Sep 2022

Damac unveils luxury Skylofts Collection in Dubai
The National, 18th Aug 2022

Real Estate Giant: Amira Sajwani, General Manager – Sales and Development of DAM…
Construction Business News, 27th Jul 2022

DAMAC announces start of piling works at Cavalli Tower project
ME Construction News, 14th Jul 2022

DAMAC and de GRISOGONO launch Safa Two tower
ME Construction News, 16th Jun 2022

Dubai developer Damac launches its second twin-tower inspired by Swiss jeweller …
Gulf News, 15th Jun 2022

Dubai's Damac Group acquires Swiss luxury brand de Grisogono
The National, 31st May 2022

Damac Lagoons project in Dubai adds Venice and Malta clusters
The National, 25th May 2022

Damac permits property buyers to pay in Bitcoin and Ethereum as crypto use in re…
Arabian Business, 28th Apr 2022

Damac Group eyes move into the metaverse with $100 million investment in “digita…
Arabian Business, 26th Apr 2022

Damac awards $136m construction contract for luxury Dubai project
Arabian Business, 2nd Apr 2022

Damac Properties awards $136mn contract for Damac Lagoons development
ME Construction News, 1st Apr 2022

Damac launches Safa One - in pictures
The National, 24th Mar 2022

Dubai's Damac is back with twin-tower project at Safa Park - this time with Swis…
Gulf News, 23rd Mar 2022

Damac announces completion of roof slab works on Zada Tower
ME Construction News, 18th Mar 2022

Damac Properties founder Hussain Sajwani to invest $1bn in data centres
The National, 18th Mar 2022

Dubai developer Damac calls shareholders' meet to take final step on DFM delisti…
Gulf News, 7th Mar 2022

Dubai’s Damac cites Covid uncertainty as net losses exceed $144m in 2021
Arabian Business, 15th Feb 2022

Dubai developer Damac takes a net loss of Dh531m for '21, revenues cross Dh3b
Gulf News, 15th Feb 2022

Dubai developer Damac is all set to stop trading on DFM on Feb 15
Gulf News, 14th Feb 2022

Damac’s Paramount opens second hotel a stone’s throw from original
Arabian Business, 11th Feb 2022

Damac announces second Paramount Hotel in Dubai
ME Construction News, 19th Jan 2022

Damac launches new master community project in Dubai
Khaleej Times, 2nd Nov 2021

Dubai mega-developer Damac returns with Mediterranean-inspired ‘Lagoons’ with go…
Gulf News, 1st Nov 2021

Sajwani's Maple Invest Co offers to acquire 100% of Damac Properties
The National, 30th Oct 2021

Damac approves founder Sajwani’s offer to take company private
The National, 29th Oct 2021

Damac shareholders to vote on October 20 on Sajwani's bid to take company privat…
The National, 27th Sep 2021

Damac founder gets regulatory approval to take company private
The National, 23rd Sep 2021

Dubai developer Damac is back in offplan mode with ‘Cavalli’ project
Gulf News, 20th Sep 2021

Dubai-based DAMAC’s Q2 2021 loss shrinks by 64% to $27.5m
Construction Week, 16th Aug 2021

Damac narrows second-quarter loss amid property market recovery
The National, 14th Aug 2021

Sajwani postpones offer to buy remaining Damac shares
Arabian Business, 22nd Jun 2021

Damac hires advisers to assess $599 million offer to go private
Arabian Business, 20th Jun 2021

Dubai developer Damac confirms Farooq Arjomand as Chairman in place of Hussain S…
Gulf News, 15th Jun 2021

How soon will Dubai developer Hussain Sajwani pick up another 17.785% in Damac?
Gulf News, 10th Jun 2021

Dubai billionaire Sajwani's Maple Invest Co makes $599m conditional offer on Dam…
Arabian Business, 9th Jun 2021

Damac posts Dh190 million net loss in first quarter
Gulf News, 19th May 2021

Dubai’s Damac posts Dhs1bn 2020 loss; head says market recovery may take up to 2…
Gulf Business, 1st Apr 2021

Dubai's Damac Properties to raise stake in overseas subsidiary to 45% from 20%
Gulf News, 8th Mar 2021

Damac Properties reports full-year net loss of Dh1.04 billion
Gulf News, 14th Feb 2021

Covid-19 impact: Dubai property likely to take up to 2 years to recover, says Da…
Khaleej Times, 14th Feb 2021

Damac concludes foundation works on Zada Tower
Construction Business News, 4th Jan 2021

Damac sees UAE property market recovery in two years, reports
Arabian Business, 27th Dec 2020

Stop 'dumping' property in Dubai, warns Damac chairman
Gulf News, 21st Dec 2020

DAMAC Properties teams up with ADIB to offer attractive home finance plan
Construction Business News, 16th Dec 2020

Damac Properties slips into massive Dh931m loss in first nine months of 2020
Gulf News, 12th Nov 2020

Damac completes structure of Tower B at Aykon City project
ME Construction News, 3rd Nov 2020

Dubai’s Damac Properties awards contract for Zada project
Gulf Business, 11th Oct 2020

Damac Properties' losses widen to Dh387m in first-half 2020
Gulf News, 13th Aug 2020

Maple Invest mulls buying Damac Properties; shares jump over 14%
Khaleej Times, 14th Jul 2020

Damac Properties now hints at going back into full private ownership
Gulf News, 9th Jul 2020

Dubai's Damac says no approach made so far on take-private bid
The National, 1st Jul 2020

DAMAC Properties reports $32.7m loss for Q1 20
Construction Week, 30th May 2020

Covid-19 may curb Dubai property project launches, says Damac chairman
Arabian Business, 30th Apr 2020

Damac reveals $10m loss amid 'softer market conditions'
Arabian Business, 29th Mar 2020

Damac Properties unveils new A La Carte Villas concept in Dubai
Arabian Business, 20th Mar 2020

Dubai developer Damac posts first annual loss in a decade
Arabian Business, 11th Feb 2020

Tower A of Golf Vita at Damac Hills topped off
Khaleej Times, 25th Dec 2019

Damac Properties third-quarter profit slides on weaker revenues
The National, 13th Nov 2019

No dividends for Damac shareholders as 'weak market' hits profits
Arabian Business, 30th Oct 2019

Dubai developer calls for property supply freeze
Arabian Business, 28th Oct 2019

Damac acquires land in Dubai for Dh285 million
The National, 24th Oct 2019

Dubai’s Damac Properties launches community centre in Damac Hills
Construction Week, 23rd Oct 2019

Damac awarded 'Property Developer of the Year' for 2019
Khaleej Times, 22nd Sep 2019

Dubai's Damac offers big discounts, Mercedes gift in new sales campaign
Arabian Business, 11th Sep 2019

Damac's Niall McLouglin praises new Dubai real estate committee
Construction Week, 3rd Sep 2019

Damac in talks with DICO over Al Sufouh, Business Bay land plots
Arabian Business, 19th Aug 2019

Dh1.9bn in H1 2019 revenues: Damac Properties
Emirates 24|7, 15th Aug 2019

Damac Properties reports 87% drop in Q2 profit on falling revenue
Arabian Business, 14th Aug 2019

H1 2019 net profit slumps by 91% at Dubai-listed developer Damac
Construction Week, 14th Aug 2019

Dubai's Damac hands over first Sharia compliant property
Arabian Business, 24th Jul 2019

Damac chief's investment firm said to agree deal for Roberto Cavalli
Arabian Business, 17th Jul 2019

DAMAC Welcomes the First Residents of AKOYA
Construction Business News, 2nd Jul 2019

CW In Focus | Exploring Damac's Aykon City in Dubai with CSCEC ME
Construction Week, 23rd Jun 2019

DAMAC Properties announces launch of its new project “Zada” at Business Bay
Construction Business News, 19th Jun 2019

Damac continues slide with first-quarter profit plunge
The National, 15th May 2019

Damac revenues and profits slashed in Q1-2019
Gulf News, 15th May 2019

Damac eyes new hotel partnerships in 2019 to drive growth
The National, 30th Apr 2019

DAMAC awards contracts worth Dh430m
Emirates 24|7, 25th Apr 2019

Damac profits, sales fall as Dubai property market 'corrects'
Arabian Business, 19th Mar 2019

Damac full-year 2018 profit slides 58% as revenues decline
The National, 14th Feb 2019

Exclusive: Damac stops buying land and open to partnerships as Q3 profit plunges…
The National, 14th Nov 2018

Behind the scenes: Akoya by Damac
Construction Business News, 7th Aug 2015

Dubai's Damac sued by investors over DIFC apartment sales
Arabian Business, 12th Nov 2014

Damac buyer wins payout in court drama
Arabian Business, 29th Aug 2011

Damac Properties Dubai Projects

Damac Properties is associated with the following real estate projects in Dubai:

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