On the occasion of DAMAC Group’s 40th anniversary, the conglomerate headed by Emirati businessman Hussain Sajwani, pays tribute to the Company’s long and prosperous journey.
Starting with humble beginnings in catering and logistics in the 1980s, the DAMAC Group is now one of the most recognisable and iconic brands in the Middle East.
While more famously known for its development arm, DAMAC Properties, the Company now has a diverse portfolio which includes Capital Markets, Retail and Fashion, Hospitality, Logistics and Data Centres.
“Forty years since we began setting up the foundations of DAMAC Group, we can take pause and proudly look back at the incredible journey that led us to where we are today,” Sajwani said.
Over the years, DAMAC established various ventures from the dot com boom, to Majan college in Oman, to acquiring restaurant chains and investing heavily in telecoms. While some ventures were sold at profit, others still remain in force until today.
The DAMAC Group currently employs more than 10,000 people and touches the lives of hundreds of thousands of customers. Its towers and skyscrapers have defined the Dubai skyline in the past 20 years and been among the biggest players of the country’s real estate boom.
“I never would have imagined that DAMAC would grow to be one of the largest and most recognised private investment and development companies in the region.
“We are appreciative of the forward-thinking policies of His Highness Sheikh Mohammed bin Rashid Al Maktoum and all our leaders that keep Dubai and the UAE an attractive place for investors and end-users alike,” he added.
“I would also like to thank the dedicated and growing team at DAMAC. While some employees have been with us for decades, we are constantly adding new and fresh talent. We want to future-proof the Company and keep it relevant, and we need the right people at the helm to achieve this,” Sajwani said.
The DAMAC story runs in tandem with the UAE’s journey to becoming the world’s foremost trade, hospitality and lifestyle destination. The success the Company has had in the UAE has propelled it to expand regionally and even globally. It now has active projects in Asia, Europe, Africa and North America. It has recently handed over the stunning DAMAC Tower Nine Elms in the prestigious Zone 1 district of London. It is also planning a branded condominium project in the upscale neighbourhood of Surfside Miami and a luxury resort in the Maldives run by Mandarin Oriental.
Among its most auspicious achievements has been the acquisition of famous iconic luxury brands such as the Italian fashion house Roberto Cavalli and the Swiss jeweller de GRISOGONO.
“No matter what industry we go into and what project we take on, our vision is centered on luxury. The DAMAC name has become synonymous with premium products and experiences, and we continue to set the highest bar with our new enterprises,” Sajwani concluded.