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  • Founder: Hussain Sajwani
  • Head Office: UAE, Dubai
  • Year of Establishment: 2002
  • Flagship Projects: DAMAC Hills, DAMAC Residences, and Paramount Residences

Damac

Introduction to DAMAC Properties

DAMAC Properties is one of Dubai’s largest private real estate developers, renowned for its high-volume, brand-oriented, and lifestyle-focused projects. The company places special emphasis on developing large-scale communities, residential towers, and projects delivered in collaboration with renowned global brands, targeting a significant portion of Dubai’s international investment market.

History and Founder

DAMAC was founded in 2002 by Hussain Sajwani, an Emirati entrepreneur. The company began operations alongside Dubai’s rapid real estate growth and quickly became a key market player through large-scale projects, strong marketing, and distinctive design. Over the years, DAMAC has also established an international presence across several countries.

Development and Management Approach

DAMAC’s approach focuses on developing master communities, selecting high-potential locations, and leveraging global branding partnerships. Rather than emphasizing low-density or custom developments, the company prioritizes rapid development, product diversity, and marketing appeal. Hussain Sajwani continues to play a pivotal role in guiding the company’s strategic direction.

Key and Recent DAMAC Projects:

  • DAMAC Hills – A large residential community featuring a golf course, villas, and diverse apartments

  • DAMAC Lagoons – A thematic, best-selling project inspired by European cities

  • DAMAC Hills 2 – A more affordable community focused on investment and rental opportunities

  • Safa One & Safa Two – Luxury brand-oriented towers overlooking Safa Park

  • Aykon City – A mixed-use development along Sheikh Zayed Road

  • Cavalli Tower – A luxury branded tower in Dubai Harbour designed by Cavalli

  • Versace Residences – A luxury residential project with Versace branding and design

  • DAMAC Islands 1 – Independent villa development with an island living concept

  • DAMAC Islands 2 – Larger-scale independent villas with distinctive design

  • Sun City – A new villa community emphasizing family living and green spaces

DAMAC’s Position in Dubai’s Real Estate Market

DAMAC appeals to investors seeking quick market entry, project diversity, and strong branding. Its projects generally offer higher liquidity, but the company is recognized as a high-volume, sales-driven developer rather than a low-density luxury builder. Understanding this distinction is critical for making informed investment decisions.

FAQs

Can foreigners buy property in Dubai ?

Yes. Foreigners can own 100% of a property in designated areas of Dubai, known as Freehold Areas. This ownership is permanent, and they have the legal right to buy, sell, rent, and transfer the property title.

What is the process of buying property in Dubai ?

The process of buying property in Dubai is transparent and structured. First, a suitable property (ready or under construction) is selected. After agreeing with the seller or developer, the unit is reserved, and a down payment is made.

Next, a formal Sale and Purchase Agreement (SPA) is signed, and the property is registered with the Dubai Land Department (DLD). Finally, after completing the payments, the official property title is transferred to the buyer’s name.

Is it possible to buy property in Dubai on installments ?

Yes. Many projects in Dubai, especially off-plan projects, are offered with installment payment plans and long-term payment terms. These terms vary depending on the developer, project, and delivery time, and may include payments during construction or even after delivery.

What is the minimum property investment required to obtain Dubai residency ?

To obtain a two-year UAE residency visa through property purchase, the minimum property value must be AED 750,000. The property can be either ready or off-plan and must be registered in the applicant’s name.

What is the UAE Golden Residency Visa, and what are its benefits ?

The UAE Golden Residency Visa is a long-term visa valid for 5 or 10 years, with the possibility of renewal. Its key benefits include stable residency, the ability to sponsor family members, no requirement for a local sponsor, and greater freedom in travel as well as long-term life and investment planning.

How much investment is required to obtain the UAE Golden Residency Visa ?

To obtain the Golden Residency Visa through property purchase, the applicant must buy one or more properties with a total value of at least AED 2,000,000. These properties can be either ready or off-plan and must be registered in the applicant’s name.

Can a residency visa be obtained for family members through property purchase in Dubai ?

Yes. By purchasing property and obtaining Dubai residency, it is possible to get residency visas for your spouse and children. Under certain conditions, it is also possible to apply for residency for parents.

What is the property rental tax rate in Dubai ?

In Dubai, there is no tax on rental income and no personal income tax. For this reason, investing in Dubai’s property rental market is attractive to many international investors.

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