UAE Property Developer DAMAC Ranks First on Forbes Global 2000 List of Fastest Growing Companies Worldwide

Real Estate Press Releases Tuesday October 31, 2017 13:53
DUBAI, UAE--31 Oct--PRNewswire/InfoQuest
DAMAC's topping of Forbes list puts UAE on world stage for its leadership in business entrepreneurship and global competitiveness

DAMAC Properties, a leading luxury real estate developer in the region, has clinched the number one spot on the Forbes Global 2000 List of Growth Champions, making it the fastest growing company worldwide among the top 2,000 listed by Forbes.

(Logo: http://photos.prnewswire.com/prnh/20160714/389603LOGO )
(Photo: http://mma.prnewswire.com/media/593537/Hussain_Sajwani.jpg )

The Forbes list was created in collaboration with Statista, a leading portal providing online statistics, market research and business intelligence, and is based on four metrics - sales, profit, assets and market value, and takes into account a company's compounded annual revenue growth between 2013 to 2016.

Hussain Sajwani, Chairman of DAMAC Properties, said, "Topping the Forbes Global 2000 Growth Champions list is a personal honour for me as it puts the UAE and Dubai firmly on the global map for competitiveness. This ranking is a testament to the visionary leaders of the UAE, and the government's support in nurturing entrepreneurship and commercial success, particularly in the real estate sector. This achievement also recognizes DAMAC's clear vision for growth, its innovative offerings, its solid financial planning and performance, as well as the relentless ambition of its 2,000 employees to be leaders of the industry."

The Growth Champions list considers growth rates for all the companies included in the Global 2000 index, and identifies the top 250 outperformers as Growth Champions, based on their compound annual revenue growth over the last three years.

DAMAC's strong sales performance is attributed to continued demand for its projects including AYKON City, DAMAC Hills and AKOYA Oxygen. In the first half of 2017, DAMAC had booked sales of AED 4 billion, an 11 percent increase over the same period last year. Established in 2002, DAMAC's footprint now extends across the Middle East with projects in the UAE, Saudi Arabia, Qatar, Jordan, Lebanon and the United Kingdom. As of 30 September 2017, DAMAC has delivered over 19,800 homes, and has another 44,000 units at various stages of development.

Since its establishment, DAMAC has been at the forefront of the real estate industry in the UAE and the region, as well as setting an example for brands and organizations in other industries both financially and profile wise. DAMAC has launched and developed iconic real estate projects that have changed the face of the real estate industry in the UAE.

The full list of of the Forbes Global 2000 Growth Champions can be found at: https://www.forbes.com/growth-champions/list/
Get more information at http://www.damacproperties.com

DAMAC Properties has been at the forefront of the Middle East's luxury real estate market since 2002 - bringing luxury living experiences to residents from all over the world. Making its mark at the highest end of stylish living, DAMAC Properties has cemented its place as the leading luxury developer in the region, offering iconic design and the utmost quality. The company's footprint now extends across the Middle East with projects in the UAE, Saudi Arabia, Qatar, Jordan, Lebanon and the United Kingdom.

As of 30th September 2017, DAMAC Properties has delivered approximately 19,855 homes. The company has a development portfolio of over 44,000 units at various stages of progress and planning, comprising more than 13,000 hotel rooms, serviced apartments and hotel villas, which will be managed by its hospitality arm, DAMAC Hotels & Resorts. With vision and momentum, DAMAC Properties is building the next generation of Middle East luxury living.

Follow DAMAC Properties on Facebook, Twitter (@DAMACofficial) and YouTube.
For more information, please contact: Sherif Elghamrawy, Assistant Vice President, Corporate Communications, DAMAC Properties. Tel: +971-4-3731000, Email: sherif.elghamrawy@damacgroup.com
Source: TBC

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