Press releases
The latest press releases from DAMAC Properties
DAMAC Properties Awards Key Contract for Safa One de GRISOGONO
Dubai, United Arab Emirates, 17 October 2023 - Leading luxury real estate developer in the UAE, DAMAC Properties has announced the awarding of the main works package for its much-anticipated Safa One de GRISOGONO project.
DAMAC Real Estate Development Limited – Senior Unsecured 3.5-year Reg S Sukuk
THIS ANNOUNCEMENT IS FOR INFORMATION PURPOSES ONLY. THIS IS NOT AN OFFERING CIRCULAR OR PROSPECTUS AND SHOULD NOT BE TREATED AS OFFERING MATERIAL OF ANY SORT. NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART IN OR INTO THE UNITED STATES OR FOR THE ACCOUNT OR BENEFIT OF U.S. PERSONS AS DEFINED IN REGULATION S (UNDER THE U.S. SECURITIES ACT OF 1933, AS AMENDED (THE SECURITIES ACT)) OR ANY OTHER JURISDICTION WHERE IT WOULD BE UNLAWFUL TO DO SO.
Over AED 1.2 Billion Awarded for DAMAC Lagoons Project
DAMAC Properties, one of the leading luxury real estate developers in the Middle East, has awarded a contract worth AED 1.2 billion to Darwish Engineering Emirates LLC.
The contract consists of the main works package of 275 villas in the Venice cluster of its highly anticipated third master community, DAMAC Lagoons.
DAMAC Properties Enhances Client Experience with New Happiness Centre
Dubai, United Arab Emirates, 6 October 2023 — Leading UAE luxury real estate developer, DAMAC Properties, reaffirms its commitment to delivering exceptional customer service and satisfaction. To further elevate their clients’ experience, the DAMAC Client Happiness Centre has relocated to DAMAC Mall in DAMAC Hills, offering improved accessibility, convenience and extended operating hours.
With wellbeing and convenience of clients at the forefront,DAMAC Properties is excited to announce a range of enhancements and new features to its new Customer Happiness Centre.
DAMAC Introduces CASA Tower: Holiday Living at the Heart of Dubai
Dubai, United Arab Emirates, 3 October 2023: DAMAC Properties, a luxury real estate development trailblazer, unveils its latest architectural masterpiece, CASA Tower. Poised at the heart of Dubai, this remarkable tower reimagines the concept of vertical island living, offering residents an extraordinary fusion of water, tranquillity, and opulence.
DAMAC - Assignment of Moody's First-time Credit Rating of the Group
Moody’s Investors Service has today assigned a Ba2 corporate family rating (CFR) and Ba2-PD probability of default rating (PDR) to Damac Real Estate Development Limited. Concurrently, Moody's has also assigned a Ba2-backed instrument rating to the proposed benchmark-sized senior unsecured sukuk of DAMAC.
Moody’s Press Release is available via the link and attached for your convenience:
DAMAC Real Estate Development Limited – Senior Unsecured 3.5-year Reg S Sukuk Mandate
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART IN OR INTO THE UNITED STATES OR FOR THE ACCOUNT OR BENEFIT OF U.S. PERSONS AS DEFINED IN REGULATION S (UNDER THE U.S. SECURITIES ACT OF 1933, AS AMENDED (THE SECURITIES ACT)) OR ANY OTHER JURISDICTION WHERE IT WOULD BE UNLAWFUL TO DO SO.
DAMAC Awards Two Key Contracts Worth AED 588 Million for DAMAC Hills Master Development
Dubai, United Arab Emirates, 27 September 2023 — DAMAC Properties, a leading real estate developer in the UAE, announces the successful awarding of two significant contracts for its flagship master development, DAMAC Hills. The contracts, valued at a total of AED 588 million, were awarded to Engineering Construction and Reconstruction Company and underscore DAMAC's commitment to delivering exceptional quality and innovation in the real estate sector.
Bitco Contracting Secures Contracts for Jumaa Mosques in DAMAC Hills and DAMAC Hills 2
Dubai, United Arab Emirates, 19 September 2023: Leading UAE-based developer DAMAC Properties has awarded Bitco Contracting contracts for the construction of two permanent Jumaa mosques in the prestigious communities of DAMAC Hills and DAMAC Hills 2.
The new mosques will replace the existing temporary mosques, which are portacabin structures of a much smaller size and will be capable of accommodating up to 673 worshippers each.
DAMAC Properties’ Branded-duo Approaches Construction Milestones
Dubai, United Arab Emirates, 14 September 2023: DAMAC Properties, a leading luxury real estate developer, has announced substantial advancements in its latest projects, Chic Tower and Elegance Tower, located in the prestigious Business Bay and Downtown areas of Dubai.
With the lead consultant appointed and the design phase now at an impressive 90% completion, Chic Tower is well on its way to transforming the city's skyline.
