Damac Properties Dubai Co PJSC News - Mubasher Info
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Damac Properties Dubai Co PJSC

Last update: 14 February 2022 03:00 PM market time.
Open 1.40
Previous Close 1.40
High 1.40
Low 1.40
Stock Statistics
Volume 143,005
Turnover 200,207.00
All data are 15 minutes late during market session


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3 October 2022 11:51 PM DAMAC Properties targets $150m monthly from online sales
Dubai - Mubasher: DAMAC Properties plans to achieve $150 million in online sales on a monthly basis by mid-2023, Ali Sajwani, General Manager of Operations at DAMAC Properties and CEO of D-Labs, revealed during the recent Dubai Metaverse Assembly. …
8 September 2022 06:54 PM Damac Properties awards AED 313.5m contracts for DAMAC Hills project
UAE - Mubasher: Damac Properties has awarded new contracts at a total value of AED 313.50 million for the development of DAMAC Hills project, according to a press release. The company hired Engineering Construction and Reconstruction Company to …
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26 August 2022 01:04 AM DAMAC to endorse EUR 1bn investment plans in Germany
UAE - Mubasher: DAMAC Group, the parent firm of Damac Properties Dubai Company, intends to invest a total of EUR 1 billion in data centre and tech-related projects in Germany. This step comes in line with the group's vision to diversify its …
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31 May 2022 00:13 PM Dubai’s DAMAC acquires Switzerland-based de GRISOGONO
Dubai – Mubasher: DAMAC Group has purchased the Swiss jewellery brand, de GRISOGONO, to strengthen the jeweller’s distribution network and development worldwide. The acquisition comes in line with the group’s vision to scale its global presence …
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29 May 2022 10:10 AM Damac Properties acquires $120m land for project in US
Dubai – Mubasher: DAMAC Properties has won a $120 million bid to acquire a 1.8-acre land in the Miami neighbourhood of Surfside, which will become the company's first project in the US. The Dubai-based company plans to launch an ultra-luxurious, …
25 April 2022 07:12 PM DAMAC’s parent company unveils $100m plans to enter metaverse
UAE - Mubasher: UAE-based DAMAC Group, the parent company of the listed Damac Properties Dubai Copmany, has announced plans to launch its digital products including virtual homes, property, and jewellery in the metaverse world. The group intends …
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27 March 2022 09:36 AM Damac records lower losses in 2021
Dubai – Mubasher: DAMAC Properties has incurred net losses of AED 530.95 million in 2021, down from AED 646.11 million in 2020, as shown by the company's consolidated financials for the year ended 31 December 2021. The company's revenues decreased …
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16 March 2022 03:32 PM Damac Properties to raise stake in Damac International Limited
Dubai – Mubasher: The board of DAMAC Properties has approved to raise the company's stake in the share capital of Damac International Limited to 68% from 45%. The transaction is valued at a rate of less than 5% of Damac Properties' issued capital, …
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28 November 2021 10:06 AM Maple Invest acquires 15.6% of Damac's share capital
Dubai – Mubasher: Maple Invest Co has acquired 15.6% of the issued and paid-up share capital in Damac Properties during the offer period by purchasing 943.9 million shares in Damac at a price of AED 1.4 per share. Damac has received from Maple …
The company's revenues decreased to AED 2.393 billion
14 November 2021 11:18 AM Damac records decline in losses in 9M
Dubai – Mubasher: The net losses of DAMAC Properties retreated to AED 480.515 million during the first nine months of 2021, compared to AED 931.304 million in the year-ago period, as shown by the company's unaudited consolidated interim financials …
This acquisition has been completed at a price of AED 1.4 per share
1 November 2021 04:37 PM Maple Invest raises ownership in Damac
Dubai – Mubasher: Maple Invest Co has increased its ownership in Damac Properties' share capital to 17.723% after acquiring 800 million shares representing 13.223% of the company's issued and paid up share capital. This acquisition has been …
Damac will collaborate with Dataplex Group to develop brownfield projects
19 October 2021 11:22 AM Damac partners with Dataplex to develop data centre facilities in Europe
Dubai - Mubasher: Damac Group has partnered with Dataplex Group Limited, a Dublin-based data centre colocation, engineering, and construction solutions company, to establish data centre facilities in Europe. Under the partnership, Damac will …
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23 September 2021 01:26 PM Sajwani receives SCA nod to acquire shares in Damac
Dubai – Mubasher: Damac Properties Dubai Company has received a disclosure from Hussain Ali Habib Sajwani stating that the Securities and Commodities Authority (SCA) approved for Maple Invest Co Limited to go on with the potential acquisition. …
The construction of the 70-floor tower is set to begin in 2022
20 September 2021 04:03 PM Italy's Cavalli collaborates with Damac to launch $545m luxurious tower
UAE - Mubasher: Italian fashion house Cavalli has partnered with DAMAC Properties to develop a $545 million luxurious skyscraper in Dubai, Damac Founder, Hussain Sajwani, announced as cited by Reuters. To be located in Dubai Marina, the …
The direct deal was implemented on 147.553 million shares
20 September 2021 00:34 PM DFM announces AED 184m direct deal on Damac
Dubai – Mubasher: Dubai Financial Market (DFM) has recorded an AED 184.441 million direct deal executed on the shares of DAMAC Properties. The direct deal was implemented on 147.553 million shares at a price of AED 1.25 per share, according to a …
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15 August 2021 00:21 PM Damac narrows losses by 25% in H1-21
Dubai – Mubasher: DAMAC Properties reported a 25% decline in net losses by the end of the first half (H1) of 2021 to AED 290.6 million, down from AED 386.7 million in H1-20. The decrease in losses resulted from a lower loss allowance on trade …
The acquisition procedures have been delayed for the SCA's review
22 June 2021 09:37 AM Maple Invest postpones Damac Properties' share acquisition
Dubai – Mubasher: Maple Invest Co, owned by Hussain Sajwani, has decided to postpone the procedures to acquire shares in the share capital of DAMAC Properties, as the Securities and Commodities Authority (SCA) is reviewing the offer. Maple Invest …
The board has also agreed on appointing Al Tamimi & Company as the legal advisor
16 June 2021 11:27 AM DAMAC appoints independent committee to assess Maple Invest's acquisition offer
Dubai – Mubasher: The board of DAMAC Properties has approved to appoint an independent committee to review and assess the offer made by Maple Invest Co, owned by Hussain Sajwani, to acquire 100% of the company's issued and paid-up ordinary share …
This transaction would result in delisting Damac from the DFM
9 June 2021 00:47 PM Hussain Sajwani's Maple Invest submits AED 935m all-stock offer for Damac
Dubai – Mubasher: Maple Invest Co, owned by Hussain Sajwani, has submitted an AED 935.4 million ($255 million) offer to purchase the minority shareholders in DAMAC Properties, Reuters reported. Sajwani, who resigned as chairman and from the …
The company generated revenues of AED 642.226 million
16 May 2021 09:47 AM DAMAC Properties reports rise in losses in Q1-21
Dubai – Mubasher: The net losses of DAMAC Properties increased to AED 189.622 million during the first quarter (Q1) of 2021, compared to AED 106.127 million in the year-ago period, according to the company's consolidated interim financials for the …
The value of the transaction is less than 5% of the company's issued capital
8 March 2021 11:34 AM DAMAC clarifies ownership increase in DAMAC International
Dubai – Mubasher: DAMAC Properties will raise its ownership of the share capital of DAMAC International Limited for indirectly owning 75% of Nine Elms real estate project in London and working on a resort project in Maldives. The value of the …
The board has approved to raise the company's ownership in DAMAC International
7 March 2021 09:41 AM Damac's board nods to raise ownership in Damac International
Dubai – Mubasher: The board of DAMAC Properties has approved to raise the company's ownership of the outstanding share capital of DAMAC International Limited to 45% from 20%. In December, the company's board nodded to an increase in the company's …
The company generated revenues of AED 4.7bn in 2020
14 February 2021 09:42 AM Damac Properties sees higher losses in 2020 amid COVID-19
Dubai – Mubasher: DAMAC Properties incurred AED 1.039 billion net losses in 2020 preliminary financial results, compared to AED 37 million in 2019.  The coronavirus (COVID-19) pandemic, lockdown, travel restrictions, and the plunge in global …
The board has also appointed a new board member
23 December 2020 04:00 PM Damac's board nods to ownership increase in Nine Elms
Dubai – Mubasher: The board of DAMAC Properties has approved to increase the company's ownership of the outstanding share capital of Nine Elms in London from 20% indirect ownership to 40% total ownership. During its meeting, the board has also …
Sajwani has been supporting the decision to temporarily stop construction in Dubai
22 December 2020 11:36 AM Dubai’s real estate sector to face challenges in 2021 – Damac Chairman
Dubai – Mubasher: The real estate sector in Dubai will face challenges in the upcoming year, the Chairman of DAMAC Properties, Hussain Sajwani, told Bloomberg TV. Sajwani warned that the real estate market, which already has a property glut, would …