Press releases

The latest press releases from DAMAC Properties

Multiple Consultancy Contracts Awarded by DAMAC for DAMAC Lagoons master community

Wed, 29 Mar, 2023

DAMAC Properties has awarded multiple contracts for consultancy services for its DAMAC Lagoons master community development in Dubailand.

Energoprojekt Entel Co. Ltd has been awarded a contract for consultancy services for a 132/11kV sub-station. Under the supervision of Energoprojekt Entel Co, a consultant approved by DEWA, the substations will be built in compliance with the utility authority’s strictest regulations and specifications. These works will help provide power supply and accelerate progress to development activities at DAMAC Lagoons.

DAMAC Appoints Aima Construction for the Main Works of its 120-villa Maldives Island Resort

Fri, 17 Mar, 2023

Dubai, UAE, 16 March 2023: DAMAC Group, under its international development arm, has awarded Aima Construction Company Pvt Ltd with the main works construction contract for 120 villas at its recently announced Mandarin Oriental Bolidhuffaru Reef resort in the Maldives.

The contract, valued at approximately AED 544 million, was awarded by DAMAC to commence construction on a series of resort accommodations, which will extend across three private islands in one of the world’s premier tropical luxury destinations.

DAMAC Awards Roads & Infrastructure Contract for DAMAC Lagoons

Wed, 08 Mar, 2023

DAMAC Properties has awarded a contract valued at more than AED 137 million contract to Proscape LLC for roads and infrastructure works for three clusters at the DAMAC Lagoons master community development in Dubailand.

The scope of work comprises construction, completion, testing, commissioning and maintenance of the roads and infrastructure services of the Nice, Costa Brava, and Portofino clusters.

DAMAC Unveils Canal Heights on Dubai Canal

Mon, 27 Feb, 2023

Dubai, United Arab Emirates - 27 February 2023: UAE-based real estate developer DAMAC Properties, is set to announce the launch of its latest branded tower project - Canal Heights.

A shimmering sequel to the developer’s recently launched CHIC Tower, this stunning 44-storey tower will offer luxury waterfront living, with the city’s famed financial and shopping district just a stone’s throw away.

ZADA Tower handed over adding to DAMAC’s thriving presence in Business Bay

Thu, 23 Feb, 2023

DAMAC Properties is pleased to announce that ZADA Tower in Business Bay has been handed over to customers following completion, adding to DAMAC’s growing presence in Business Bay, Dubai’s bustling city centre.

DAMAC promises support to Al Tareq Rehabilitation and Autism Centre

Wed, 15 Feb, 2023

As part of its commitment to social welfare and development, the Hussain Sajwani DAMAC Foundation (HSDF) has extended support to the Al Tareq Rehabilitation and Autism Centre.

DAMAC presented a donation cheque to officials from the Sharjah-based Center in a bid to support their commitment to people of determination.

The Center expressed gratitude in the support shown by HSDF and applauded the Foundation’s keenness to enhance means of cooperation towards therapeutic and educational services for community members.

Emirates NBD arranges DAMAC’s USD 200 million 2.25-year senior unsecured sukuk

Wed, 15 Feb, 2023
  • Emirates NBD was Sole Global Coordinator, Placement Agent and Settlement Agent 
  • The transaction marks Emirates NBD’s third private placement for DAMAC, reflecting the Group’s strong distribution capabilities   

Dubai, 14 February 2023:  Emirates NBD, a leading banking group in the MENAT (Middle East, North Africa and Turkey) region, has successfully priced a USD 200 million senior unsecured sukuk for DAMAC Real Estate Development Limited, marking the Group’s third private placement arranged for the property company.

DAMAC Group Accelerates Kingdom of Saudi Arabia Data Centre Roadmap and will Go Live with Facilities in Dammam and Riyadh in 2023

Wed, 08 Feb, 2023

The facilities offer hyperscalers, cloud service providers, content companies, over the top (OTT) players and enterprises, diverse and highly connected hubs for serving local and international customers.

Kingdom of Saudi Arabia, 08 February 2023 – DAMAC DATA CENTRES, previously EDGNEX a global digital infrastructure provider owned by the DAMAC Group, will go live with facilities in Riyadh and Dammam, Kingdom of Saudi Arabia (KSA) before the end of 2023.

DAMAC Properties awards AED 886 million main works construction contract for Cavalli Tower

Tue, 07 Feb, 2023

Dubai, UAE – 06 February 2023: DAMAC Properties has officially announced that it has awarded China State Construction Engineering Corporation with the main works construction contract for its 71-storey Cavalli Tower.

The contract valued at approximately AED 886 million was awarded by DAMAC to finalise main works construction of the luxurious high-end residential tower in Dubai Marina. At completion, Cavalli Tower will feature premiere interior designs by renowned Italian fashion house Roberto Cavalli and breathtaking views of the Palm Jumeriah.

DAMAC Properties announces the opening of DAMAC Hills 2 an Edge by Rotana Hotel

Wed, 01 Feb, 2023

DAMAC Group is pleased to announce the upcoming opening of DAMAC Hills 2 an Edge by Rotana Hotel. The hotel comprising 295 rooms is the latest addition to DAMAC Hospitality’s rich and growing portfolio in the UAE and abroad.

It is yet another branded association by the conglomerate demonstrating its expanding relationships with some of the world’s most recognised and respected brands.