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DAMAC Properties
Emirati property development company
DAMAC Properties
DAMAC Properties is an Emirati property development company, based in Dubai, United Arab Emirates. The company was founded by Hussain Sajwani and listed on the Dubai Financial Market in early 2015. It was delisted in 2022 after going private again; Sajwani, who retained 72% of all shares, purchased the remaining shares for 2.19 billion AED ($595 million USD). The company operates internationally. Investigative reporting has shown that DAMAC agents instruct potential customers how to avoid scrutiny about the origins of money used to purchase properties, as well as guide customers to buy properties through cash or cryptocurrency.
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