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Damac Properties

Damac Properties was founded in Dubai in 2002 by Hussain Sajwani, after freehold ownership was opened to non-Emirati buyers. It is privately held: Damac listed on the Dubai Financial Market in early 2015, and Sajwani bought out the minority shareholders and delisted it in 2022, paying around $500m to take it fully private through his holding company Maple Invest. As of September 2026 the company states it has delivered 50,000 homes with more than 54,000 units under construction, which makes it one of the largest private residential developers in Dubai; it also develops in Saudi Arabia, Qatar, Jordan, Iraq and the UK.

83Live projects

11Communities

AED 541KStarting price

Dec 2026Earliest handover

2002Founded

About the developer

What Damac builds

High-rise apartments in Business Bay, Dubai Marina and Dubai Maritime City, plus large villa and townhouse master communities on the Dubailand corridor, with a consistent line in brand-licensed residences (Cavalli, Versace, Fendi Casa, Paramount, and a Chelsea FC-branded project of six towers and more than 1,400 units in Dubai Maritime City, handover targeted December 2029). Pricing runs from accessible off-plan stock in Damac Hills 2 and Damac Lagoons up to prime towers, so it sits more heavily in the entry and mid tiers than at the ultra-prime end.

Damac has been delivering in Dubai since 2002 and continues to hand over at scale, announcing 8,800 residential handovers across Dubai during 2026, roughly 6,300 of them at Damac Lagoons, alongside more than AED 10bn of construction contracts awarded in the first half of that year. It is an established counterparty rather than a new entrant. Because launch volume is high, check the construction status and escrow account of the specific project with the Dubai Land Department rather than relying on the brand alone.

Private — DFM-listed in early 2015, taken private by its founder in 2022 and held through Maple Invest · Founded 2002