DAMAC Properties, a property development company was founded in the year 2002 by its founder, Hussain Sajwani, who is both the owner and the Chairman of the company. This company is based in Dubai at the United Arab Emirates. This company has been listed in both the Dubai Financial Market (DFM) and in London Stock Exchange (LSE) being the first of the kind to be listed at LSE in the Middle East. This company has got a variety of its achievements such as the completion of development projects for commercial, residential and mix projects at Dubai, Qatar, Saudi Arabia and Aku Dhabi. The company’s most projects are still in progress in the areas.
In its recent development, this company has indicated the issue of a new tender in which they are to add another tower to other towers it owns and constructed that is expected to cover an area of 1.7 Million Square Feet. The tower construction contains 10 platform levels, ground floor, and three basements. In addition to this, there will be a rooftop and other 49 residential floors that are aimed at increasing the entertainment level and a comfortable lifestyle.
This tender is expected to be offered in May 2018 as the pilling work for the construction has been concluded. The tender by DAMAC has followed a construction contract that has been recently awarded to the China State Construction Engineering Corporation (CSCEC) in February to another construction of another tower at Aykon City. The Aykon City lies as one of the best developments for the DAMAC properties in Dubai. The Aykon City is expected to be the home for Aykon Plaza that will offer entertainment services for the community. This development will consist of Hotels, Office spaces, Residential places and other Serviced Apartments.
DAMAC Properties has been experiencing great success majorly due to the visionary Hussain Sajwani, the Chairman and the owner of the company. He has got entrepreneurship skills and has invested much so as to gain the success of this company including the combination that was between him and Donald Trump in the establishment of the Trump Golf Course in Dubai. He has been listed as one of the most influential Arabs by the Gulf Business in 2017. This has majorly been seen through the prosperity and the success of his Company i.e. The DAMAC Properties.