DAMAC Holding launched

"While our group has been growing tremendously over the years, we saw a strategic need to launch a new holding company to ensure utmost efficiency and effectiveness by all subsidiaries. Our focused strategy is aimed at achieving our vision of becoming the leading service provider in the region, while providing maximum value to our customers", said Hussain Sajwani, DAMAC Group Chairman.

DAMAC ranks among the largest regional business groups, while operating in 16 countries and having a portfolio of more than 5000 employees. Over the last 23 years, DAMAC Group has grown and evolved from a local catering company to an international conglomerate whose activities encompass property development, insurance, manufacturing, education, securities, investment and commercial trading.

DAMAC operates one of the largest food service companies in the Middle East. From its beginnings in 1982, its industrial catering division has become a major player, managing more than 200 projects in the Middle East, Africa and the Commonwealth of Independent States (CIS).

The company serves the needs of oil and gas, schools, 5 star hotels, army camps, universities, and industrial complexes across the Middle East and Africa.

DAMAC Properties, the leading private developer in the UAE, has also experienced significant growth over the years.

In the last two years, with the government's introduction of foreign ownership, DAMAC was the first to launch projects on every master development in Dubai. Today, the property company has 18 tower projects worth over AED 8 Billion.

DAMAC has redefined luxury with its state-of-the-art developments on the Palm Islands Jumeirah and Jebel Ali, Dubai Marina, Dubai International Financial Centre, and Discovery Gardens.

The company has also strategically diversified into the insurance sector, having acquired a 40% stake in the Bahrain based Al Ahlia Insurance Company, ensuring the safety and security of thousands of people.

On the manufacturing side, DAMAC has seen a significant increase in the production capacity of its award-winning Oman-based Al Anwar Ceramic Tiles Company, up from 3 Million square meters of tiles per year to 7 Million in just two years.

In addition to these projects, the conglomerate has also experienced growth in the investment sector. DAMAC Invest is at the forefront of investment, with assets valued at more than AED 2 Billion. Moreover, DAMAC Securities is the first brokerage house ever to earn an ISO 9002 Certification.

The dreams and ambitions of the DAMAC Group, and its quest for diversity, have kept it on the move for the past two decades, allowing the company to seize diverse opportunities and progressive openings throughout the region.

DAMAC will be hosting a gala dinner to celebrate the announcement and formalization of DAMAC Holding. The event will take place on the 18th of April at the Jumeirah Beach Hotel, and will be attended by a number of influential businessmen from within the region.