DAMAC Real Estate Development Limited (commonly known as DAMAC Properties) is a major luxury real estate developer based in Dubai, United Arab Emirates. Founded in 2002 by billionaire Hussain Sajwani, it has grown into one of the largest private developers in the Middle East
- Ownership: The company is 100% privately held by its founder, Hussain Sajwani. It was previously listed on the Dubai Financial Market but was delisted in May 2022 after Sajwani took the company private.
- Market Position: As of early 2026, it is ranked as the second-largest residential developer in Dubai, following Emaar Properties.
- Financial Health:
- Revenue Visibility: The company maintains a robust revenue backlog of approximately $20 billion as of late 2025.
- Credit Rating: In November 2025, S&P Global upgraded its long-term rating to 'BB+' with a stable outlook, reflecting strong sales performance.
- Revenue Projection: Forecasted revenue for 2026 is between $5.0 billion and $5.3 billion
Key Projects & Developments
DAMAC is renowned for high-end residential communities and "branded" residences through collaborations with global luxury brand
Master Communities:
- DAMAC Hills: A flagship development featuring the Trump International Golf Club Dubai.
- DAMAC Hills 2 (formerly Akoya Oxygen): An eco-friendly community focusing on sustainability.
- DAMAC Lagoons: A Mediterranean-inspired community with themed clusters like Venice and Santorini.
- DAMAC Islands: A newly launched master community that recently received a Guinness World Record for the highest revenue generated by a real estate launch in 24 hours.
Branded Residences:
- Cavalli Tower: An ultra-luxury skyscraper in Dubai Marina designed in collaboration with Roberto Cavalli.
- Safa One & Safa Two: Luxury towers designed by Swiss jeweler de GRISOGONO.
- DAMAC Towers by Paramount: Hollywood-inspired hotel and residential towers in Business Bay
