About DAMAC Projects
In the real estate market in 2015, DAMAC homes are well acknowledged. This firm provides residential, commercial, and recreational properties across the world. The corporation is also strengthening its ties with the United Arab Emirates, Saudi Arabia, Qatar, Jordan, Lebanon, Iran, Oman, and the United Kingdom.
The entire revenue that DAMAC properties reported for the year 2017 was AED 7.5 billion. The overall revenue for DAMAC Properties in 2018 was AED 6.1 billion. The DAMAC Group, founded in 1982 by the company's owner and Chairman Husain Sajwani, includes the DAMAC Company, which was founded on January 28th, 2002.
Through a worldwide depository receipts scheme, DAMAC became the first Middle Eastern real estate corporation to list on the London Stock Exchange (LSE) in December 2013. An IPO was used to raise AED379 million for the initiative. On January 12, 2015, DAMAC started trading in Dubai as a result of an offer to swap its outstanding Global Depository Receipts (listed on the LSE) for Ordinary Shares (listed on the DFM). Therefore, the GDRs were subsequently de-listed in March 2015.
Two master developments by the company have been brought to light in Dubai, with a combined area of around 100 million square feet. Around the champions league Trump International Golf Club Dubai and approximately four million square feet of private parkland, DAMAC Hills offers a blend of horizontal and vertical community living. Donald Trump Jr. and Eric Trump served as honorary guests during the opening of the Trump International Golf Club Dubai in February 2017. Another golf course designed by Tiger Woods Design, the Trump World Golf Club Dubai, is placed in the second development, AKOYA.
Over 370 contracts worth AED 3.5 billion were granted by DAMAC Properties in 2017. All of its development projects were covered by the contracts for construction, supplier, and consulting services. In June 2018, the business committed over AED 1.5 billion to the development of its flagship project, Akoya in the United Arab Emirates.