DAMAC Properties company profile

DAMAC Properties was established in 2002 as the property-development division of DAMAC Group. Founded by Hussain Sajwani, the company develops master-planned communities, residential towers, and branded residences in Dubai and international markets.

Dubai communities and current milestones

The Dubai portfolio includes DAMAC Hills, DAMAC Hills 2, DAMAC Lagoons, DAMAC Riverside, DAMAC Islands, and DAMAC Sun City. Riverside Views was introduced in January 2025 as the company's first launch of that year.

In May 2025, DAMAC launched Chelsea Residences by DAMAC in Dubai Maritime City. In November 2025, the company announced the first handovers at the Santorini cluster of DAMAC Lagoons. These dated milestones show the range of active work across new launches, branded towers, and established communities.

Master communities, residential towers, and branded residences

Master developerCommunitiesVillasTownhousesBranded residences

Who owns DAMAC Properties?

DAMAC Properties is privately owned by its founder, Hussain Sajwani. He made a takeover offer on 9 June 2021 through Maple Invest Co. Limited, a company he owns, and resigned as chairman and board director of DAMAC Properties the same day. Maple reached the 90 per cent acceptance threshold on 5 December 2021, and the mandatory acquisition of the remaining shares completed on 21 February 2022. A bondholder notice published by DAMAC Real Estate Development Limited states that Sajwani then held ultimate ownership or control of 100 per cent of the share capital. The shares were formally delisted from the Dubai Financial Market on 31 May 2022.

Source: DAMAC Real Estate Development Limited — consent solicitation announcement, 21 June 2022 · AP News — Trump-linked tycoon to take Dubai developer DAMAC private, 9 June 2021 · The National — Damac to officially delist from Dubai Financial Market, 7 March 2022

Track record

Buildings that made the name

  1. 01 Trump International Golf Club Dubai Inaugurated 18 February 2017 at DAMAC Hills; 18 holes, 7,205 yards, par 71, designed by Gil Hanse. 2017 completed
  2. 02 DAMAC Tower Nine Elms Handover began June 2022 in London; 50 storeys, 450 residences, interiors by Versace. DAMAC's first completed project in Europe. 2022 completed
  3. 03 DAMAC Islands The Phase 1 launch took AED 10.23 billion in 24 hours and holds the Guinness World Records title for the highest revenue generated by a real estate launch in 24 hours. 2024 completed
  4. 04 Chelsea Residences by DAMAC Launched in Dubai Maritime City; six towers and more than 1,400 residences. Chelsea Football Club named DAMAC its Official Property Development Partner. 2025 completed
  5. 05 Cavalli Tower Topped out 6 November 2025 in Dubai Marina; 71 storeys, 436 residences, AED 1 billion, interiors by Roberto Cavalli. 2025 completed
  6. 06 DAMAC Lagoons Handover began at the Santorini cluster on 24 November 2025; 4.5 million sq m, 11 clusters, over 8,000 villas and townhouses. 2025 completed

DAMAC track record: delivered and under construction

Homes delivered since 2002
50,000+
DAMAC Properties, official figure, read 20 August 2026
Units in progress and planning
54,000+
DAMAC Properties, official figure, read 20 August 2026
Homes delivered as at 31 December 2016
About 17,900
DAMAC press release, 18 February 2017
Property sales in 2025
AED 36 billion
Company-reported, release of 20 January 2026
Dubai master communities on the official index
7
damacproperties.com/en/communities/, read 20 August 2026

Delivered Under construction

Unit counts are DAMAC's own published figures. Homes delivered and units in progress are separate counters and are not added together.DAMAC has been a private company since 31 May 2022 and publishes no audited results.

Project Area Type Status Date
Trump International Golf Club Dubai DAMAC Hills, Dubailand 18-hole, 7,205-yard par-71 course Delivered 18 February 2017
DAMAC Tower Nine Elms Nine Elms, London 50-storey tower, 450 residences Delivered Handover from June 2022
DAMAC Lagoons — Santorini cluster Dubailand Townhouses and villas, first cluster Delivered Handover began 24 November 2025
Cavalli Tower Dubai Marina 71-storey tower, 436 residences Under construction Topped out 6 November 2025
Chelsea Residences by DAMAC Dubai Maritime City Six towers, 1,400+ residences Under construction Launched May 2025
DAMAC Riverside Dubai Investments Park 2 About 1,900 townhouses Under construction Riverside Views launched January 2025
DAMAC Islands 2 Dubailand Master community, eight island clusters Under construction Launched 12 November 2025
DAMAC Sun City Al Yelayiss 1, Dubailand Wellness townhouse community, 2.7m sq ft Under construction Handover expected Q1 2028

Source: DAMAC Properties — About DAMAC · checked 20 August 2026

What DAMAC is known for

Homes delivered since 2002
50,000+
The counter ten years ago
About 17,900 at 31 December 2016
Guinness World Records title
Highest revenue from a real estate launch in 24 hours — DAMAC Islands Phase 1
Registers inside DLD systems
Authorised by Dubai Land Department, 20 August 2024
Dubai master communities selling
7 on the official communities index
Delivered outside the UAE
DAMAC Tower Nine Elms, London, handover from June 2022

Delivery and sales figures are DAMAC's own published numbers.The company has been private since 31 May 2022 and issues no audited results.

2026 marks a new era for DAMAC. Our focus is clear: delivering dream homes for families with the highest quality standards in the market.
Amira Sajwani Managing Director, DAMAC Properties DAMAC Properties press release, 20 January 2026

Where DAMAC builds

DAMAC Islands, DubailandDAMAC Sun City, DubailandDAMAC Riverside, Dubai Investments Park 2DubailandTownhouses in DubaiVillas in Dubai

Current projects via GRAF

DAMAC Riverside — Dubai Investments Park 2

DAMAC Riverside

Dubai Investments Park 2

From current project page

View project →
DAMAC Islands — Al Yelayiss 1, Dubailand

DAMAC Islands

Al Yelayiss 1, Dubailand

From current project page

View project →
DAMAC Sun City — Al Yelayiss 1, Dubailand

DAMAC Sun City

Al Yelayiss 1, Dubailand

From current project page

View project →

How DAMAC differs from other Dubai developers

DAMAC was a listed company for seven years and is not one now. Its founder bought out the minority shareholders and took it off the Dubai Financial Market, so its numbers come from its own releases rather than from an exchange filing.

One owner, not a shareholder register
Hussain Sajwani acquired ultimate ownership or control of 100% of the share capital on 21 February 2022.
Left the exchange
Listed on the Dubai Financial Market on 15 January 2015, delisted 31 May 2022 after the mandatory acquisition of minority shares.
Publishes no audited results
As a private joint stock company DAMAC reports no quarterly or annual accounts; its sales and delivery figures are company statements.
Sells at launch scale
AED 11 billion in five hours at DAMAC Islands 2 on 12 November 2025, after AED 10.23 billion in 24 hours at DAMAC Islands Phase 1.
Builds under licensed brands
Roberto Cavalli, Versace and Chelsea Football Club lend their names to DAMAC buildings; DAMAC is the developer in each case.
Registers inside DLD systems
Dubai Land Department named DAMAC among the developers authorised on 20 August 2024 to register and audit transactions directly.
Why GRAF recommends DAMAC

DAMAC sells townhouse and villa communities in Dubailand and Dubai Investments Park at launch prices and hands them over cluster by cluster rather than all at once.

What the record shows
  1. The delivery counter is old enough to testDAMAC printed about 17,900 homes delivered at 31 December 2016 and prints 50,000+ today.
  2. Clusters complete on their own timetableDAMAC Lagoons began handover at the Santorini cluster on 24 November 2025; the master plan holds 11 clusters and over 8,000 homes.
  3. Three DAMAC communities are on GRAFDAMAC Islands, DAMAC Sun City and DAMAC Riverside each have their own price list, payment plan and handover date.
What to check before signing
  1. Which figures are auditedDAMAC has published no audited results since it left the Dubai Financial Market on 31 May 2022. Sales and delivery numbers come from company releases.
  2. The cluster, not the communityHandover runs cluster by cluster. Confirm the date written on the SPA for the specific cluster.
  3. Escrow and RERA number of the exact projectDAMAC registers transactions inside Dubai Land Department systems; the project's escrow account and registration can be confirmed with DLD before payment.

GRAF editorial team

DAMAC — frequently asked questions

Who owns DAMAC Properties?

Hussain Sajwani owns it. He bought out the minority shareholders through Maple Invest Co. Limited, completed the mandatory acquisition on 21 February 2022, and took ultimate ownership or control of 100 per cent of the share capital. DAMAC's shares were delisted from the Dubai Financial Market on 31 May 2022.

Source: DAMAC Real Estate Development Limited — consent solicitation announcement, 21 June 2022

When was DAMAC Properties founded and by whom?

The DAMAC Group of Companies formed DAMAC Properties as its property-development division in 2002. Hussain Sajwani founded it and the company's About page names him as Founder.

Source: DAMAC Properties — About DAMAC

How many homes has DAMAC delivered?

DAMAC publishes 50,000+ homes delivered since 2002 and 54,000+ units in progress and planning. The two counters are separate and are not added together. In its own press release of February 2017 the figure was about 17,900 homes delivered as at 31 December 2016.

Source: DAMAC Properties — About DAMAC

Is DAMAC a listed company?

No. DAMAC listed on the Dubai Financial Market on 15 January 2015 and was delisted on 31 May 2022 after its founder acquired the remaining shares. Its legal form was converted from a public joint stock company to a private joint stock company on 7 March 2022, so it publishes no quarterly or annual results.

Source: The National — Damac to officially delist from Dubai Financial Market, 7 March 2022

Which master communities does DAMAC build in Dubai?

The official communities index lists seven: DAMAC Hills, DAMAC Hills 2, DAMAC Islands, DAMAC Islands 2, DAMAC Lagoons, DAMAC Riverside and DAMAC Sun City.

Source: DAMAC Properties — Our Communities

What record does DAMAC hold?

Guinness World Records awarded DAMAC the title for the highest revenue generated by a real estate launch in 24 hours, for Phase 1 of DAMAC Islands, which took AED 10.23 billion. DAMAC Islands 2 then took AED 11 billion in five hours on 12 November 2025.

Source: Gulf News — DAMAC Achieves Record Dh36 Billion in 2025 Sales, 20 January 2026

Has DAMAC handed over any of its lagoon communities?

Yes. DAMAC Lagoons began handover at its Santorini cluster on 24 November 2025. The community sits beside DAMAC Hills in Dubailand, spans 4.5 million square metres and holds over 8,000 villas and townhouses across 11 clusters.

Source: DAMAC Lagoons begins handover at Santorini cluster, 24 November 2025

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Official sources
Official websiteDAMAC Properties — official siteDAMAC Properties — WikipediaDAMAC Properties — Wikidata (Q5204252)DAMAC Properties — LinkedIn
About this profile

Maintained by the GRAF editorial team from public sources and our own project data. Updated 20 August 2026. Contact us

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