DAMAC Properties Developer of DAMAC Hills, DAMAC Lagoons and DAMAC Islands

About DAMAC Properties

DAMAC Properties was founded in Dubai in 2002 by Hussain Sajwani, whose wider business — DAMAC Group — dates back to 1982. Over two decades it became one of the best-known private developers in the UAE, with a strong focus on off-plan sales, master-planned villa communities and luxury towers.

In 2015 DAMAC listed on the Dubai Financial Market. In 2022 Hussain Sajwani took the company private again, buying out the remaining shareholders; since then DAMAC Properties has been a privately held company.

DAMAC's first large master community was DAMAC Hills (originally launched as Akoya), built around the Trump International Golf Club Dubai, which opened in 2017. It was followed by DAMAC Hills 2, launched in 2014, DAMAC Lagoons with Mediterranean-themed clusters such as Marbella, Monte Carlo, Santorini and Venice, and DAMAC Riverside in Dubai Investment Park. DAMAC Islands, a tropical-themed villa and townhouse community launched in 2024, set a Guinness World Record for the highest real-estate launch revenue in 24 hours; DAMAC Islands 2 followed in 2025.

DAMAC is also known for branded residences. The group acquired the Roberto Cavalli fashion house in 2019 and the jeweller de GRISOGONO in 2022, and develops projects such as DAMAC Bay by Cavalli in Dubai Harbour, Safa One and Safa Two de GRISOGONO, DAMAC Towers by Paramount in Business Bay and Chelsea Residences, created with Chelsea FC, in Dubai Maritime City.