DAMAC Properties develops residential and commercial properties in Dubai and the Middle East. It also invests in real estate projects of several different types. In particular, DAMAC finances and invests in real estate projects relating to residential complexes, large commercial properties such as tall buildings, and properties of entertainment and leisure values, such as resorts and amusement developments. The company was founded by Hussain Ali Habib Sajwani in 2002 and is headquartered in Dubai, the United Arab Emirates.
Hussain Ali Habib Sajwani has dealt with and worked with Donald Trump in the development of property and the construction of major projects in the Middle East. Indeed, President Trump and Mr. Sajwani have had a working relationship on a number of projects, and it is believe that Mr. Sajwani will continue to work with and support those who are now operating President Trump’s company.
DAMAC has long been known as a rather unique company, in that it pulled some rather strange commercial ‘stunts’ at times, such as giving away a free Bentley with every luxury apartment. This has been the hallmark of a very high-end, very exclusive company whose offerings are exclusive and high end.
Mr. Sajwani, though, looks back at the many things his company did, and one of his fondest memories was of the help that it offered the Americans by means of food service during the First Gulf War.
At present, Mr. Sajwani is considering rendering the company into a publicly held corporation, with an initial public offering in the UK stock market on the London Stock Exchange. He has spoken with several financial institutions, but nothing solid has developed yet in regard to a public offering.
DAMAC suffered in the crash of 2008, and today, it is rebounding with the rise of property values in the Middle East.
With Mr. Sajwani at the helm, the future for the company looks fine, indeed.
Andrew Heiberger is excited to announce that his firm. Town Residential, is opening an exciting new real estate office at 446 West 14th Street in New York City’s Manhattan borough. The new 7,100 square foot office space is located very near High Line Park. It also includes a rooftop meeting area where clients can meet privately with agents while enjoying the gorgeous skyline. The release of this exciting news was first published via Crain’s New York.
Manning the new office will be the professionals formerly with boutique brokerage Thomas & Ingram along with professionals from TOWN’s former West Village location. These professionals already have an amazing knowledge of the area and this new location gives clients easy access to them.
In making the announcement, Andrew says that they like to think of the entire west side as interconnected with numerous smaller neighborhoods. Therefore, it is important to work with an agent who has intimate knowledge of the area so the perfect property can be located.
Many people already are familiar with the great High Line area as they love the running and biking trails located there. The area has become even more popular with the recent building of five new condominiums. 505 West 19th Street which is owned and designed by Thomas Juul-Hansen offers a beautiful gallery separating its two buildings with some units available that take up an entire floor. The 551W21 complex that is slated to open in early 2017 offers apartment dwellers a natural progression from room-to-room instead of an open floor plan. A 61 foot sky pool promises to be a great way to escape the summer’s heat. The ultra-luxurious 515 Highline promotes a unique blending of natural and man-made materials inside its beautiful exterior. Finally, entertaining has never been easier than at Soori High Line where the two penthouses boast private terraces and pools.
The landlord for the building is Thor Equities which also is a parent investor for TOWN.