Company Insights Damac Properties Real Estate Damac Properties Overview Founded in 2002 by billionaire Hussain Sajwani and headquartered in Dubai, Damac Properties is one of the UAE’s best-known property development firms. Sajwani listed the company on the Dubai Financial Market in early 2015, but took it private in 2022 at a valuation of $2.1 billion. He had retained 72 per cent of its shares, and purchased the remaining 28 per cent for $595 million. Damac Properties – a subsidiary of parent Damac Group – is behind developments including Damac Hills, Damac Towers and Damac Heights. It also developed the residential communities alongside Dubai’s two Trump International Golf Courses. Internationally Damac Properties has built developments in Qatar, London, Amman, Morocco and Riyadh. Damac Properties has also developed a number of hotels in Dubai. In addition to Trump International, its developments have involved brand collaborations with Radisson, Rotana, Paramount, Cavalli and de Grisigono. Damac Properties News Markets Abu Dhabi backers deny selling crypto before $5bn crash The Abu Dhabi backers of a Dubai-licensed cryptocurrency business have denied wrongdoing after its token’s market cap dropped by more than $5 billion in a matter of hours, raising alarm among investors. Mantra, a Hong Kong-based blockchain company focused on tokenising real-world assets, is backed by Abu Dhabi’s Shorooq Partners, which led an $11 million […] April 16, 2025 Opinion Banking & Finance From horses to houses: the march of UAE tokenisation Digital fractional ownership is turning high-value assets into accessible investments April 15, 2025 Analysis Real Estate Shortage of Dubai homes forces buyers to go off-plan A shortage of completed homes for sale in Dubai is pushing people to buy off-plan properties, which have hit record highs in terms of units bought and as a proportion of purchases. Off-plan investors in the emirate have long had to fund their own purchases, but the growing importance of yet-to-be-completed properties may spur more […] April 9, 2025 Banking & Finance Damac chairman Sajwani’s wealth doubles to more than $10bn The fortune of Hussain Sajwani, the chairman of Dubai-based Damac Properties, has doubled in the last year as he takes his place among the world’s wealthiest individuals to become the richest businessman in the Middle East. The 72-year-old real estate magnate is worth $10.2 billion, the annual rich list from Forbes says, significantly higher than […] April 2, 2025 Tech Damac’s data centre unit makes foray into Nordic region Edgnex, the data centre subsidiary of Dubai’s Damac Group, has acquired Finland-based data centre company Hyperco for an undisclosed sum. Hyperco mainly focuses on Finland and Sweden, using the Nordic region’s sustainable energy resources and high connectivity. The company’s three founders and existing team will continue to lead operations. Hussain Sajwani, founder of Damac, said the company aims to […] April 2, 2025 Real Estate Dar Global expands Trump-branded project in Oman Saudi Arabia’s Dar Al Arkan Real Estate Development is upgrading a Trump Organisation golf course in Oman to championship level and expanding an adjacent $4 billion luxury gated community project. Dar Global, the London-listed international arm of Dar Al Arkan, said it added nearly one million square metres of beachfront land to its Aida Muscat […] March 13, 2025 Real Estate Damac tightens yield on $750m sukuk Dubai developer Damac Real Estate Development has sold $750 million in 3-1/2-year Islamic bond (sukuk), according to a document seen by Reuters on Wednesday. The yield was set at 7 percent, narrower than the 7.5 percent initial price guidance released earlier in the day after the orders surpassed $2.3 billion, the lead bank document showed. […] February 20, 2025 Artificial Intelligence Gulf has a strong hand in Trump’s $500bn AI project Two of the three tech giants that will spend billions of dollars building US artificial intelligence infrastructure in a partnership announced by President Donald Trump have been the recipients of significant Gulf investment. Japan’s SoftBank and US companies OpenAI and Oracle have committed $500 billion over four years to Stargate, an entity tasked with building […] January 22, 2025 Analysis Trade Tariffs and tech on the UAE’s radar as Trump takes office When billionaire developer Hussain Sajwani appeared on stage with Donald Trump earlier this month to announce $20 billion worth of investment in US data centres, he did not hide his glee about the Republican’s return to the White House. The chairman of UAE-based Damac Properties called Trump’s re-election in November “amazing news” and said his […] January 17, 2025 Construction Damac to tokenise $1bn in real estate Damac Group, the Dubai property company, has partnered with the Hong Kong-based blockchain platform Mantra to tokenise assets worth at least $1 billion. The project will use blockchain technology to create digital tokens representing ownership or rights to Damac’s assets, allowing them to be traded online. Tokenisation is intended to lower barriers to investment by […] January 10, 2025 Posts navigation 1 2 … 7 Next
Markets Abu Dhabi backers deny selling crypto before $5bn crash The Abu Dhabi backers of a Dubai-licensed cryptocurrency business have denied wrongdoing after its token’s market cap dropped by more than $5 billion in a matter of hours, raising alarm among investors. Mantra, a Hong Kong-based blockchain company focused on tokenising real-world assets, is backed by Abu Dhabi’s Shorooq Partners, which led an $11 million […] April 16, 2025
Opinion Banking & Finance From horses to houses: the march of UAE tokenisation Digital fractional ownership is turning high-value assets into accessible investments April 15, 2025
Analysis Real Estate Shortage of Dubai homes forces buyers to go off-plan A shortage of completed homes for sale in Dubai is pushing people to buy off-plan properties, which have hit record highs in terms of units bought and as a proportion of purchases. Off-plan investors in the emirate have long had to fund their own purchases, but the growing importance of yet-to-be-completed properties may spur more […] April 9, 2025
Banking & Finance Damac chairman Sajwani’s wealth doubles to more than $10bn The fortune of Hussain Sajwani, the chairman of Dubai-based Damac Properties, has doubled in the last year as he takes his place among the world’s wealthiest individuals to become the richest businessman in the Middle East. The 72-year-old real estate magnate is worth $10.2 billion, the annual rich list from Forbes says, significantly higher than […] April 2, 2025
Tech Damac’s data centre unit makes foray into Nordic region Edgnex, the data centre subsidiary of Dubai’s Damac Group, has acquired Finland-based data centre company Hyperco for an undisclosed sum. Hyperco mainly focuses on Finland and Sweden, using the Nordic region’s sustainable energy resources and high connectivity. The company’s three founders and existing team will continue to lead operations. Hussain Sajwani, founder of Damac, said the company aims to […] April 2, 2025
Real Estate Dar Global expands Trump-branded project in Oman Saudi Arabia’s Dar Al Arkan Real Estate Development is upgrading a Trump Organisation golf course in Oman to championship level and expanding an adjacent $4 billion luxury gated community project. Dar Global, the London-listed international arm of Dar Al Arkan, said it added nearly one million square metres of beachfront land to its Aida Muscat […] March 13, 2025
Real Estate Damac tightens yield on $750m sukuk Dubai developer Damac Real Estate Development has sold $750 million in 3-1/2-year Islamic bond (sukuk), according to a document seen by Reuters on Wednesday. The yield was set at 7 percent, narrower than the 7.5 percent initial price guidance released earlier in the day after the orders surpassed $2.3 billion, the lead bank document showed. […] February 20, 2025
Artificial Intelligence Gulf has a strong hand in Trump’s $500bn AI project Two of the three tech giants that will spend billions of dollars building US artificial intelligence infrastructure in a partnership announced by President Donald Trump have been the recipients of significant Gulf investment. Japan’s SoftBank and US companies OpenAI and Oracle have committed $500 billion over four years to Stargate, an entity tasked with building […] January 22, 2025
Analysis Trade Tariffs and tech on the UAE’s radar as Trump takes office When billionaire developer Hussain Sajwani appeared on stage with Donald Trump earlier this month to announce $20 billion worth of investment in US data centres, he did not hide his glee about the Republican’s return to the White House. The chairman of UAE-based Damac Properties called Trump’s re-election in November “amazing news” and said his […] January 17, 2025
Construction Damac to tokenise $1bn in real estate Damac Group, the Dubai property company, has partnered with the Hong Kong-based blockchain platform Mantra to tokenise assets worth at least $1 billion. The project will use blockchain technology to create digital tokens representing ownership or rights to Damac’s assets, allowing them to be traded online. Tokenisation is intended to lower barriers to investment by […] January 10, 2025
