DAMAC

In 2002, as Dubai's real estate market was on the cusp of a historic boom, Emirati businessman Hussain Sajwani identified a significant opportunity. Drawing from his earlier success in a catering venture that served clients like the U.S. military, Sajwani founded DAMAC Properties with a clear vision: to develop luxury real estate. The company quickly made a name for itself by focusing on high-end, opulent projects, often in collaboration with global luxury brands like Versace and Fendi to design interiors. This strategy attracted a wealthy international clientele and cemented DAMAC's reputation in the competitive Dubai market. One of its notable early projects was the Marina Terrace, a 38-story residential tower in the Dubai Marina, which set the stage for future ambitious developments. A pivotal moment arrived in late 2013 when DAMAC announced its intention to list on the London Stock Exchange, raising capital for further expansion. By 2015, the company was also listed on the Dubai Financial Market (DFM). This move provided the fuel for massive master-planned communities like DAMAC Hills, which featured a Trump-branded international golf club. However, the company's journey as a public entity was finite. In June 2021, after a period of market struggles, Hussain Sajwani announced an offer to take the company private again. The delisting from the DFM was finalized in March 2022, bringing the company fully back under the control of its founder.