Damac Properties
is a leading Dubai freehold real estate company that has been referred to be the largest privately owned developer in Dubai. It is a member of the Dubai-based Damac Group (Damac Holding), that was setup in 1982.
Damac Properties' portfolio of
real estate projects has been focused on residential towers in the Dubai Marina (Ocean Heights, Marina Terrace, The Waves), Palm Islands (Palm Springs, Palm Terrace), Jumeirah Lake Towers (Lake View, Lake Terrace), International Media Production Zone [IMPZ] (The Crescent, Lago Vista), Dubai International Financial Centre [DIFC] (Park Towers) and the Discover Gardens (Terra
Del Sol 1 & 2). Its list of commercial towers can be found in the Technology, Electronic Commerce and Media Free Zone [TECOM] (Executive Heights, Smart Heights) and the Dubai Business Bay (XL Tower, Business Tower). Damac has also developed non high-rise buildings in Jumeirah Village South (Emirates Gardens, Emirates Gardens 2) and also expanded its projects into Abu Dhabi with the Dolphon Towers and the Oceanscape.
Hussain Sajwani, Chairman of Damac Holding, will be speaking at the First Kuwait Real Estate Forum Meeting later in April about Dubai's success story and how the government and private sector can work together to develop the industry and create strong real estate market.
Al Ahlia Insurance, a Damac Holding Company today reported a net profit of Dhs 32,263,631 for the year 2007 as against 2006 net profit of Dhs 24,962,721, registering a growth of 29%.
A subsidiary of DAMAC Holding and one of the oldest public shareholding companies providing all classes of insurance in Bahrain, Al Ahlia Insurance registered a 8.2 per cent growth in gross premium for the second quarter of fiscal year 2007 compared to the second quarter of fiscal year 2006.
Luxury lifestyle provider and the region's leading private sector developer, DAMAC Properties, in less than two months has sold 75 per cent of ‘La Residence at the Lotus’, the company’s first residential tower in Business Bay.
