Power 100 list: The Top 5 developers in 2022

Originally published on Jun 22, 2022 | Construction Week

Construction Week Middle East unveils the 13th annual Power 100 list, one of the most anticipated rankings of the year. In 2022, the Power 100 list has been redesigned to focus on independent stakeholder segments, which means each stakeholder is ranked against their peers in the industry. 

This year, the power list is divided into six sub-lists: Top 30 Contractors, Top 20 Developers, Top 15 Consultants, Top 15 Sub-contractors, Top 10 Designers & Architects, and Top 10 Lawyers. The sub-lists collectively make the Power 100 ranking. 

Each sub-list features the most influential individuals from that particular industry, who are ranked in ascending order within their respective lists. 

The ranking is based on the following criteria: overall value of the projects completed in the past 12 months, value of new projects secured in the past 12 months, successes and achievements during the same period, and initiatives implemented by the organisation towards the well-being of its employees and the society. 

The final Power 100 ranking of 2022 was based on publicly available information about the companies, responses to the questionnaire, and the editorial team’s combined assessment of each company’s achievements in the past 12 months. 

Among the featured is Hussain Sajwani, Founder of DAMAC Properties.   

Hussain Sajwani 

Led by Hussain Sajwani as the company’s founder, the global property developer, DAMAC Properties kick-started the year by leveraging cryptocurrency and technology to provide innovative solutions to their customers. 

Having identified the market opportunity in 2002, Sajwani’s establishment of DAMAC has placed it as one of the largest property development companies in the region, with projects in key global cities like Dubai, Abu Dhabi, Doha, Amman, Jeddah, London, and more. 

As an astute businessman and investor, Sajwani has a proven track record of successful forays in private equities, mergers, and acquisitions and holds the majority and minority holdings in publicly traded companies. 

Towards the beginning of Q2 2022, the leading luxury real estate developer announced its decision to facilitate the purchase of property using cryptocurrencies. 

Under Sajwani’s leadership, DAMAC is set to revolutionise the future of real estate by leveraging technology to provide innovative solutions to its evolved customers. 

Additionally, the Dubai-based developer has been actively engaged in several projects in the last few months. These include the Safa One de GRISOGONO tower in Sheikh Zayed Road and the 26-storey ZADA Tower in Business Bay. The company also recently announced the launch of its new water-inspired community at DAMAC Lagoons. 

In May this year, DAMAC won the $120mn bid to acquire land in the upscale Miami neighbourhood of Surfside.