Over the past decade DAMAC Properties has expanded its operations beyond Dubai to include a number of countries in the wider Middle East region including Saudi Arabia, Qatar, Jordan and Lebanon.
DAMAC Properties’ business model is based on a phased strategy of “Buy”, “Design”, “Sell” and “Build”, supported by constant customer care and close control over the development process to ensure each property is of the highest quality possible.
buyThe "Buy" phase
In this phase, DAMAC Properties actively seeks to purchase land in prime locations. When selecting land, the development team considers a number of factors including the location of the land, whether it has scenic views, its proximity to amenities, the infrastructure availability and its potential investment appreciation opportunities.
designThe "Design" phase
Once the Group has secured development rights and contracted to purchase land for a particular development, the design phase begins. The objective of this phase is to create a development design that represents DAMAC Properties’ luxury brand and optimises the commercial viability of the development.
DAMAC Properties’ developments have been recognised for their iconic designs. Amongst the 30+ awards the company has received are the following:
"Best Developer, Middle East" award by The Overseas Property Professional
"Outstanding Development of the Year" for DAMAC Properties’ Al Jawharah project by Big Project ME magazine from CPI
2012 International Property Awards by Bloomberg for the following:
"Best Residential High-Rise Development" for DAMAC Properties’ Al Jawharah project
"Best Interior Design Apartment" for DAMAC Properties’ Residences
"Emirates Steel GCC Building Project Of The Year" award for its Ocean Heights project by 2012 MEED
sellThe "Sell" phase
During the “Sell” phase, DAMAC Properties contracts to sell a certain proportion of the units in the development to customers "off-plan" in managed stages following the launch of the new development to the public.
From the first expression of interest from a potential customer the company implements its customer relationship management process. DAMAC Properties has 12 dedicated sales offices supporting customers’ needs. For example, it provides potential customers with "3-D walkthroughs" and model apartments in order give them tangible and "living experiences" of products. It also undertakes extensive road shows in countries in which the company has no sales offices.
buildThe "Build" phase
The final phase of the Group's business model is the "Build" phase. Construction is provided by external contractors in two phases:
An initial contract for enabling works
A subsequent contract for main work
Project Execution and Management
The Group's project execution and management relies on a two-pronged approach of:
Outsourcing project design and construction to external contractors
Maintaining a highly qualified team of internal engineers, architects and design professionals who are intensely involved with the entire design and construction process