DAMAC Properties

Dubai, United Arab Emirates

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About

DAMAC Properties is an Emirati property development company, based in Dubai, United Arab Emirates. The company was founded by Hussain Sajwani and listed on the Dubai Financial Market in early 2015. It was delisted in 2022 after going private again; Sajwani, who retained 72% of all shares, purchased the remaining shares for 2.19 billion AED. The company operates internationally. The company has been linked to money laundering and suspicious activities. Investigative reporting has shown that DAMAC agents instruct potential customers how to avoid scrutiny about the origins of money used to purchase properties, as well as guide customers to buy properties through cash or cryptocurrency. Read more