DAMAC Properties was established in 2002 as the property development arm of the DAMAC Group, a Dubai-based private conglomerate founded by Hussain Sajwani in 1982. The company is privately owned — Sajwani took DAMAC off the Dubai Financial Market in 2022 and the business remains family-run. In 2024, the developer set a Guinness World Record for the highest revenue generated by a real estate launch in 24 hours, recording AED 10.2 billion in sales for Phase 1 of DAMAC Islands. In 2025, DAMAC recorded AED 36 billion in total sales — the highest figure among Dubai's private developers for the year.
DAMAC Properties at a glance
Who is DAMAC Properties?
Hussain Sajwani founded DAMAC Properties in 2002, timed with Dubai opening freehold ownership to foreign buyers. The company grew quickly through residential towers in Dubai Marina before shifting focus to master-planned communities — a direction that began with DAMAC Hills in 2011 and now spans seven communities across Dubailand. DAMAC listed on the Dubai Financial Market in 2015, then went private again in 2022. The business remains family-run, with Sajwani's daughter Amira leading sales and development strategy.
That family-driven structure has produced some of the fastest-selling real estate launches on record. In December 2024, the Phase 1 launch of DAMAC Islands sold 3,164 units and generated AED 10.2 billion in under 24 hours — earning a Guinness World Record for the highest revenue from a real estate launch in a single day. In 2025, DAMAC recorded AED 36 billion in total sales, ranking first among Dubai's private developers for the year.
View properties by DAMACHow DAMAC builds
Community-first development
Since DAMAC Hills launched in 2011, the company has focused on self-contained communities with golf courses, lagoons, sports facilities, retail, and schools built into the masterplan. Residents across DAMAC communities are within walking distance of amenities that a standalone tower cannot offer. That model now covers seven communities across Dubailand, all interconnected and designed around family living.
Global luxury brand partnerships
DAMAC has built a programme of collaborations with fashion houses and global brands that few developers anywhere have matched. Versace, Roberto Cavalli, de Grisogono, Paramount, Rotana, Mandarin Oriental, and Chelsea FC have all partnered with the company on residential or hospitality projects. The Cavalli Tower, completed in November 2025 at a cost of $272 million, is a 70-floor tower overlooking Palm Jumeirah. DAMAC Tower Nine Elms in London is Europe's first Versace-branded luxury residence.
Record-breaking launch performance
The DAMAC Islands Phase 1 launch on 10 December 2024 sold 3,164 units and generated AED 10.2 billion in under 24 hours — officially recognised by Guinness World Records as the highest revenue from a real estate launch in a single day. A year later, DAMAC Islands 2 generated AED 11 billion in just five hours. That sustained demand points to strong buyer confidence in the brand and in Dubailand as a long-term location.
Global reach from a Dubai base
DAMAC operates across the UAE, Saudi Arabia, Qatar, Jordan, Iraq, and the United Kingdom. In Miami, the company is developing Delmore — an exclusive condominium in Surfside designed by Zaha Hadid Architects. In the Maldives, a resort project is being developed in partnership with Mandarin Oriental. In 2025, DAMAC entered the Iraqi market with DAMAC Hills Baghdad, its first master-planned community outside the Gulf.
Master communities in Dubai
DAMAC Hills
DAMAC Hills was the developer's first master community, launched in 2011 under the name Akoya by DAMAC. The community spans 42 million square feet in Dubailand and is built around the Trump International Golf Club Dubai, which opened in February 2017. The golf course was designed by Gil Hanse, who also designed the Rio 2016 Olympic course.
The community offers villas, townhouses, and apartments, alongside schools, a water park, riding stables, a petting zoo, and the Malibu Bay wave pool. Villa prices from launch have appreciated by an average of 72%, and townhouse prices by 86%, based on DAMAC's own resale data — among the strongest long-term returns recorded across the developer's portfolio.
DAMAC Hills 2
Originally launched as Akoya Oxygen in 2014, DAMAC Hills 2 is a large suburban community designed around greenery, parks, and outdoor living. The development sits alongside a second Trump International Golf Course, this one designed by Tiger Woods. At peak construction, $1.5 billion had been committed to the project.
The community is now fully delivered and occupied. Current projects within DAMAC Hills 2 include Violet — a townhouse collection with views across the community's green corridors — as well as Natura, ELO, and Park Greens. Townhouse prices from launch have appreciated by an average of 60%.
DAMAC Lagoons
DAMAC Lagoons spans 45 million square feet opposite DAMAC Hills in Dubailand and is built around a series of crystal lagoons with 11 Mediterranean-themed clusters: Venice, Santorini, Costa Brava, Morocco, Nice, Malta, Ibiza, Marbella, Portofino, Mykonos, and Monte Carlo. Each cluster draws from a specific coastal destination in architecture, landscaping, and amenities — gondola rides in Venice, a floating amphitheatre in Santorini, and a wave pool in Costa Brava.
The community holds over 8,000 villas and townhouses and is designed for approximately 35,000 residents. DAMAC Lagoons is the UAE's first pre-certified LEED Platinum community, with a focus on energy efficiency, net-zero outdoor water consumption, and carbon-neutral construction materials. The first units — in the Santorini cluster — were handed over to owners in November 2025. One early resident reported that his property's value had doubled from AED 1.6 million at launch to AED 3.2 million at handover.
DAMAC Islands
DAMAC Islands is the project that produced the Guinness World Record. On 10 December 2024, the Phase 1 launch sold 3,164 units and generated AED 10.2 billion in under 24 hours — the highest revenue from a real estate launch in a single day, as officially recognised by Guinness World Records. The launch drew buyers from across the world and was backed by a campaign featuring Amitabh Bachchan and Ranveer Singh.
The community is located in Dubailand, 15 minutes from DAMAC Hills, and is designed around five tropical-island themes inspired by the Maldives, Bora Bora, Seychelles, Hawaii, and Bali. The development primarily offers villas and townhouses, with delivery scheduled for 2028. DAMAC Islands led villa and townhouse transactions across all Dubai communities in H1 2025, recording 4,185 sales.
DAMAC Islands 2
DAMAC Islands 2 launched in November 2025 at the Coca-Cola Arena, hosted by Hussain Sajwani and Amira Sajwani, with Bollywood stars Ranbir Kapoor and Alia Bhatt appearing at the event. The launch generated AED 11 billion in sales within five hours — surpassing the Guinness World Record set by Phase 1 the previous year, though the record itself remains with Phase 1 as the benchmark for a single 24-hour window.
The community is DAMAC's seventh master project in Dubai and introduces eight tropical island themes: Antigua, Bahamas, Barbados, Bermuda, Cuba, Maui, Mauritius, and Tahiti. Properties range from four-bedroom townhouses of approximately 203 square metres to six-bedroom luxury villas of approximately 583 square metres, with prices starting from AED 2.7 million.
Handing over soon
Chic Tower by de Grisogono
Morocco at DAMAC Lagoons
ELO
Violet by DAMAC
DAMAC Bay by Cavalli
Autograph Collection
Current launches
DAMAC Bay 2 by Cavalli
DAMAC Riverside
Safa Gate by DAMAC
Chelsea Residences by DAMAC
Key developer milestones
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1982
DAMAC Group founded
Hussain Sajwani establishes DAMAC Group in Dubai as a private investment vehicle, initially focused on catering and food services for the US military and major corporations across the Middle East and Africa. -
2002
DAMAC Properties established
Sajwani founds the property development arm of the DAMAC Group, timed with Dubai's introduction of freehold ownership for foreign buyers. Early projects are residential towers in Dubai Marina. -
2011
DAMAC Hills launched
Launched as Akoya by DAMAC, the development marks the company's entry into master-planned communities. The Trump International Golf Club Dubai is confirmed as the community's centrepiece. -
2013
Trump Organization partnership formalised
DAMAC and The Trump Organization enter a formal partnership to develop the Trump International Golf Club and a second course within the DAMAC Hills development area. -
2014
DAMAC Hills 2 announced
Launched as Akoya Oxygen, the second master community is built around a Tiger Woods-designed golf course with a focus on greenery, parks, and suburban living. Peak construction investment reaches $1.5 billion. -
2015
Listed on Dubai Financial Market
DAMAC Properties completes its IPO on the DFM, marking a period of significant international investor attention and revenue growth — AED 7.5 billion in 2017 and AED 6.1 billion in 2018. -
2019
Roberto Cavalli Group acquired
DAMAC Group acquires the Italian fashion house, deepening the developer's connection to the global luxury fashion world and enabling Cavalli-branded residential products. -
2022
Taken private; DAMAC Lagoons launched
Sajwani acquires the remaining shares and removes DAMAC from the DFM for AED 2.19 billion. In the same year, DAMAC Lagoons is launched — the UAE's first community to receive pre-certified LEED Platinum status. -
2024
Guinness World Record — DAMAC Islands Phase 1
On 10 December, the Phase 1 launch of DAMAC Islands sells 3,164 units and generates AED 10.2 billion in under 24 hours. Guinness World Records officially recognises this as the highest revenue from a real estate launch in a single day. -
2025
AED 36 billion in sales; DAMAC Islands 2 launched
DAMAC records AED 36 billion in total sales — the highest among Dubai's private developers. DAMAC Islands 2 generates AED 11 billion within five hours of launch. DAMAC Lagoons begins handing over the first units. Chelsea Residences is unveiled at Stamford Bridge.
Facts about DAMAC Properties
- DAMAC Hills is built around a Trump International Golf Club designed by Gil Hanse — the same architect behind the Rio 2016 Olympic golf course.
- DAMAC Hills 2 features a second Trump International course, this one designed by Tiger Woods under his TGR Design studio.
- DAMAC Lagoons is designed for approximately 35,000 residents and targets one of the lowest carbon footprints per capita of any community in the UAE.
- The Cavalli Tower, completed in November 2025, is a 70-floor tower overlooking Palm Jumeirah and cost $272 million to build.
- DAMAC Tower Nine Elms in London is Europe's first Versace-branded luxury residence.
- In Miami, DAMAC is developing Delmore in Surfside — a condominium designed by Zaha Hadid Architects.
- DAMAC Islands led all Dubai communities for villa and townhouse transactions in H1 2025, recording 4,185 sales.
- DAMAC Hills townhouse values have risen an average of 86% from launch prices, and villa values 72%, based on DAMAC's resale data.
- In 2025, DAMAC entered the Iraqi market with DAMAC Hills Baghdad — its first master-planned community outside the Gulf region.
Frequently Asked Questions
Common questions about DAMAC Properties, its communities, and buying a property in a DAMAC development.
Developer basics
Who is DAMAC Properties?
DAMAC Properties is a Dubai-based luxury real estate developer founded in 2002 by Hussain Sajwani, a billionaire Emirati businessman. The company is a subsidiary of DAMAC Group, a private conglomerate established in 1982. DAMAC is the UAE and Middle East's largest private real estate developer by volume, with over 50,000 homes delivered since inception.
What is the Guinness World Record that DAMAC holds?
On 10 December 2024, DAMAC launched Phase 1 of DAMAC Islands and sold 3,164 units generating AED 10.2 billion in under 24 hours. Guinness World Records officially recognised this as the highest revenue generated by a real estate launch in a single day. A year later, DAMAC Islands 2 generated AED 11 billion in just five hours — though the official Guinness record remains with the Phase 1 launch.
Is DAMAC Properties a government or private developer?
DAMAC is a privately owned developer. The company listed on the Dubai Financial Market in 2015 but was taken private again in 2022 when founder Hussain Sajwani acquired the remaining shares for AED 2.19 billion. The business is family-run: Sajwani serves as Chairman, his daughter Amira Sajwani is Managing Director of Sales and Development, and his son Ali oversees DAMAC Group operations.
How many homes has DAMAC delivered?
DAMAC has delivered over 50,000 residential units since its founding in 2002, with more than 54,000 additional units currently under construction across the UAE, Saudi Arabia, Qatar, Iraq, and international markets. In 2025, the company recorded AED 36 billion in total property sales — the highest figure among Dubai's private developers for the year.
Communities and projects
What are DAMAC's most well-known communities in Dubai?
DAMAC has seven master communities in Dubai, all in Dubailand: DAMAC Hills (42 million sq ft, golf course community, fully delivered), DAMAC Hills 2 (suburban, fully delivered), DAMAC Lagoons (45 million sq ft, Mediterranean-themed, handover ongoing), DAMAC Sun City (under construction), DAMAC Riverside (under construction), DAMAC Islands (Guinness World Record project, delivery 2028), and DAMAC Islands 2 (launched November 2025).
What makes DAMAC Lagoons different from other DAMAC communities?
DAMAC Lagoons is a 45 million sq ft Mediterranean-inspired community with 11 themed clusters — each modelled on a coastal European destination including Venice, Santorini, and Morocco. The project holds over 8,000 villas and townhouses and is the UAE's first pre-certified LEED Platinum community. The first units were handed over in November 2025, with reports of property values doubling from launch price to handover.
What branded residences has DAMAC developed?
DAMAC has an extensive branded residences portfolio. In Dubai, the company has developed DAMAC Bay by Cavalli and DAMAC Bay 2 by Cavalli at Dubai Harbour, Altitude de Grisogono and Harbour Lights de Grisogono in Business Bay and Dubai Maritime City, and Cavalli Estates in DAMAC Hills. Internationally, DAMAC Tower Nine Elms in London is Europe's first Versace-branded residence. The Chelsea Residences partnership with Chelsea FC launched in 2025 in Dubai Maritime City.
Buying and investing
Are DAMAC properties freehold for foreign buyers?
Yes. All DAMAC residential projects are in designated freehold zones, meaning international buyers acquire full, permanent ownership registered with the Dubai Land Department. All off-plan payments are held in a government-monitored escrow account and released to DAMAC only after certified construction milestones are reached. Buyers purchasing a property valued above AED 750,000 may also qualify for a UAE residency visa.
What are typical rental yields in DAMAC communities?
Rental yields across DAMAC communities typically range from 6.5% to 8% gross per year, depending on property type and location. Chelsea Residences targets the premium end of that range given its waterfront location in Dubai Maritime City. DAMAC communities also show strong capital appreciation: villa values in DAMAC Hills have risen an average of 72% from launch, and townhouse values 86%.
What payment plans does DAMAC offer?
DAMAC payment structures vary by project. Common plans across current launches include 60/40 (60% during construction, 40% on handover), 70/30, 75/25, and 80/20. Several projects also carry a 4% DLD fee waiver. Some releases have offered 1% monthly payment schemes. Down payments typically begin from around 5% to 20% depending on the development.
What is the price range for DAMAC properties?
Entry prices vary significantly across DAMAC's portfolio. Apartments in developments such as DAMAC Lagoon Views begin from around AED 979,000. Branded apartments at Chelsea Residences start from AED 2.17 million. Townhouses in DAMAC Islands 2 start from AED 2.7 million. Villas within established communities such as DAMAC Hills and DAMAC Lagoons range from approximately AED 3 million to AED 12 million and above, depending on size and cluster.