Press releases
The latest press releases from DAMAC Properties
LOAMS Partners with Real Point & Zee Matrix to Enhance Community Management Services in Compliance with RERA Guidelines
Dubai, UAE, 20 May 2024 – Luxury Owners Association Management Services LLC, LOAMS, the community management arm of DAMAC Properties has signed a Memorandum of Understanding with Real Point & Zee Matrix to provide consultancy services for their portfolio in line with recent circulars from RERA related to the update of assets on Mollak and mandatory Reserve Fund studies.
UAE-Founded DAMAC International Announces Aggressive APAC Expansion Plan with Latest Office Openings in Singapore and Beijing
Dubai, United Arab Emirates, May 6th, 2024: UAE-founded real estate developer with global aspirations, DAMAC International, has announced brand-new office openings in Beijing and Singapore. With its sights firmly set on global expansion, the office openings signal the brand’s push and significant investment and commitment to APAC.
DAMAC Alkhair Initiative Brings Joy to Thousands with Iftar Meals Distribution in Collaboration with RTA this Ramadan
Dubai, UAE, 03 April 2024 –Embracing the spirit of community service during the Holy Month, DAMAC Properties, a leading luxury real estate developer in the UAE, collaborated with the Roads and Transport Authority (RTA) to distribute around 8,000 iftar meals and 3,000 gift boxes to on-ground staff in its communities, construction sites and selected RTA location across Dubai.
RIC secures contract for new cluster in DAMAC Hills 2
Leading real estate developer, DAMAC Properties has awarded UAE-based firm, Royal International Contracting (RIC) a new contract of AED 240 million, for main works for a new cluster in DAMAC Hills 2.
The scope of work includes the construction of the main works package for 526 townhouses located within the thriving 55 million sqft master community of DAMAC Hills 2.
DAMAC Hills 2 Community Emerges as One of the Highest Transacted in the UAE
Off-plan apartments registered and averaged a robust growth of 16% in price per square foot from 2021 to end of 2023 Data from the Dubai Land Department (DLD) has revealed compelling insights, placing units in DAMAC Hills 2 as one of the highest transacted in the UAE.
DAMAC Unveils Autograph Collection – An Exclusive Enclave of Boutique Villas in DAMAC Hills
Dubai, UAE, 26 March 2024 – DAMAC Properties, a leading luxury real estate developer in the UAE, announces the launch of its latest luxury residential offering, the Autograph Collection, within the prestigious DAMAC Hills community. These meticulously designed boutique residences mark an expansion of DAMAC's premium homes portfolio, bringing an unmatched level of sophistication and elegance to Dubai's real estate landscape.
DAMAC's Cavalli Tower Set to Redefine Luxury Living with Completion on Target
Dubai, UAE, 6 March 2024 –DAMAC Properties, a leading luxury real estate developer in the UAE, announced that the Cavalli Tower, its inaugural branded residential tower project in the UAE is on target for completion. Situated in the vibrant Dubai Marina, adjacent to DAMAC’s Ocean Heights, the 71-storey Cavalli Tower will set a new standard in luxury living for the city, embodying the bold elegance synonymous with the Cavalli brand. The tower is conceptualised by Shaun Killa, award-winning architect, and design partner at Killa Design.
DAMAC's Luxury Resort in the Maldives Advancing Smoothly
Dubai, United Arab Emirates, 22 February 2024: DAMAC Group has announced that the construction of its Mandarin Oriental Bolidhuffaru Reef Resort is advancing steadily under development in the Maldives.
DAMAC REAL ESTATE DEVELOPMENT LIMITED - RATING UPGRADE TO BB (S&P)
S&P Global Ratings (S&P) has upgraded DAMAC Real Estate Development Limited's long-term issuer rating to 'BB' due to improved leverage metrics, with a stable outlook. Additionally, S&P has upgraded its rating on the Company’s senior unsecured sukuks to 'BB' from 'BB-'.
The report can be viewed on S&P’s website.
Chairman named Executive of the Year at Big Project ME Awards 2023
February 8, 2024, Dubai, UAE - The Big Project Middle East (Big Project ME) Awards, an annual event celebrating excellence in the construction and infrastructure sectors, has honoured Hussain Sajwani, Chairman and Founder of DAMAC Group with its coveted Executive of the Year accolade.
This year, the 14th edition of the event drew over 160 esteemed guests from across the GCC, including international and local delegates representing government organisations, developers, operators, contractors, and suppliers, showcasing the pinnacle of achievement in the industry.
