Damac
Dubai-based property developer founded in 2002 by Hussain Sajwani. It reported AED 36 billion in property sales in 2025 and about 50,000 homes delivered by January 2026.
Industry: Real estate development | Location: Dubai, United Arab Emirates | Founded: 2002
About Damac
DAMAC Properties is a Dubai-based property developer founded in 2002 by Hussain Sajwani, according to Gulf News and Forbes Middle East. It belongs to the DAMAC Group, which describes itself as a private conglomerate founded in 1982 with origins in catering and logistics. The group's website says it has eight businesses across six sectors, more than 10,000 employees of over 100 nationalities, including property development in seven countries, data centres, artificial intelligence, hospitality, retail and fashion.
Sajwani is founder and chairman of DAMAC Properties, Forbes Middle East says. The group's leadership page lists Ali Sajwani and Amira Sajwani as managing directors, Abbas Sajwani as a board member, Sandip Bhatt as chief investment officer and MP John as chief human capital officer.
Forbes Middle East said in April 2025 that DAMAC had delivered more than 48,000 units, with projects in more than 15 countries including the UAE, Saudi Arabia, the United Kingdom and the United States. Gulf News reported in January 2026 that it had delivered about 50,000 residential units and had more than 54,000 under construction.
In 2025 the company launched Riverside Views, Capri One in August, DAMAC District in September and DAMAC Islands 2 in November. Gulf News reported that DAMAC Islands 2 generated AED 11 billion in sales within five hours, and that the original DAMAC Islands launch in 2024 took more than AED 10.2 billion in under 24 hours and earned a Guinness World Record. DAMAC formed a global partnership with Chelsea Football Club to launch Chelsea Residences by DAMAC in Dubai, and entered Iraq with the first phase of DAMAC Hills Baghdad.
Gulf News reported that DAMAC recorded AED 36 billion in property sales in 2025, the most among Dubai's private developers. Forbes Middle East reported that in February 2025 DAMAC priced a USD 750 million senior unsecured sukuk with a three-and-a-half-year term, its largest such issue to that date, and that Sajwani announced plans to invest USD 20 billion in US data centres through EDGNEX Data Centers by DAMAC.
Leadership
- Hussain Sajwani, Founder and Chairman
- Ali Sajwani, Managing Director
- Amira Sajwani, Managing Director
- Abbas Sajwani, Board Member
- Sandip Bhatt, Chief Investment Officer
- MP John, Chief Human Capital Officer
- Sofyan Khatib, Group Director
- Mohammed Tahaineh, General Manager, Projects