Press releases
The latest press releases from DAMAC Properties
CONSTRUCTION OF DAMAC INTERNATIONAL’S ‘THE DELMORE’ CONTINUES AS DEEP-SOIL MIXING (DSM) PROCESS BEGINS
Led by Keller, the world’s largest geotechnical specialist contractor, DSM is an important phase of the construction process as it stabilizes the soil, creating a watertight barrier around the perimeter of the basement without the need of pile driving, thus minimizing vibrations
DAMAC REAL ESTATE DEVELOPMENT LIMITED (“DAMAC”) - US$750 million SENIOR UNSECURED 3.5-YEAR REG S SUKUK
DAMAC Real Estate Development Limited (“DAMAC”), rated Ba2 (positive outlook) by Moody’s and BB (stable outlook) by S&P, one of the leading developers of high-end properties in the Middle East, successfully settled a 3.5-year US$750,000,000 trust certificates with a profit rate of 7.000% per annum due 26 August 2028 (the “Offering”). The Offering has become the largest sukuk transaction by DAMAC to date.
DAMAC Showcases Luxury Waterfront Developments at Dubai International Boat Show 2025
• The developer is showcasing key projects at the show, including Couture by Cavalli, DAMAC Bay, and DAMAC Bay 2
• DAMAC projects will highlight luxury waterfront living and visionary designs
DAMAC INTERNATIONAL UNVEILS THE DELMORE, DESIGNED BY ZAHA HADID ARCHITECTS, AND COMMENCES CONSTRUCTION
• Site work is underway at the boutique oceanfront condominium, DAMAC’s first real estate foray in the US
• Situated in Miami’s Billionaire’s Triangle, The Delmore will feature mansions, averaging 7,000 sq ft, supported by 55,000+ sq ft of amenities
EDGNEX Data Centers by DAMAC Announces Expansion into the U.S. Market with 2000MW projected future capacity
- EDGNEX announced an initial $20 Billion investment with a plan to potentially double the investment based on future demand
- The U.S. market is critical to EDGNEX’s global and exponential growth strategy.
- As a group, DAMAC is invested significantly in the U.S. through several private equity funds and in real estate in Miami.
- The data center expansion will include key U.S. regions, i.e. Sunbelt and Midwest states.
DAMAC Properties Advances in the Construction of DAMAC Bay 1 by Cavalli
DAMAC Properties has announced significant updates on the construction of DAMAC Bay 1, the developer’s upscale Cavalli-branded development at Dubai Harbour. Foundation works are now underway, marking a crucial phase in the development, and two construction cranes have been erected, a signal of rapid progress. Launched in January 2023, the project is on schedule for completion in July 2027.
DAMAC Celebrates a Successful Participation at LPS Shanghai 2024
DUBAI, UAE, 24 December 2024 – DAMAC Properties recently concluded a successful participation at the prestigious LPS Shanghai 2024, the 23rd edition of the largest international luxury real estate expo in the Asia-Pacific region.
Held from December 6th to 8th at the Shanghai Exhibition Center, this event showcased over 150 high-end real estate brands from more than 40 countries, representing top-tier real estate firms from over 220 cities worldwide.
DAMAC commits USD 10 million to bolster Dubai Cares' crisis response and support for displaced families in Lebanon
DUBAI, UAE, 13 November 2024 – As part of its commitment to the 'UAE Stands with Lebanon' initiative and in response to the escalating humanitarian crisis in Lebanon, DAMAC has committed USD 10 million to Dubai Cares, a civil society organization formally associated with the United Nations Department of Global Communications (UN DGC), to bolster its emergency response and support displaced families in Lebanon. This significant contribution aims to deliver critical aid and meaningfully engage DAMAC employees in meaningful humanitarian efforts during Lebanon’s time of need.
EDGNEX Data Centers by DAMAC Powers European Expansion with 40MW Data Center Investment in Spain
Dubai, United Arab Emirates, Oct 15th, 2024: EDGNEX Data Centers by DAMAC, a global digital infrastructure provider and part of the DAMAC Group, has taken a significant step in its international expansion by acquiring prime land in Madrid, Spain, for the development of a cutting-edge data center. The site has been acquired from real estate private equity manager ActivumSG.
UAE headquartered EDGNEX Data Centers by DAMAC announces strategic JV with Thailand based group, PROEN Corp
Bangkok, Thailand – October 11, 2024 – EDGNEX Data Centers by DAMAC, a global digital infrastructure provider, has announced its second significant investment in Thailand's digital infrastructure. EDGNEX plans to invest over 32 billion Baht (1 billion USD) in a series of data center projects to meet the rising demands of advanced AI technology and data processing capabilities. EDGNEX is owned by DAMAC Group, a global leader in real estate development, data centers and other sectors.
