Press releases
The latest press releases from DAMAC Properties
EDGNEX Data Centers by DAMAC Announces Expansion into the U.S. Market with 2000MW projected future capacity
- EDGNEX announced an initial $20 Billion investment with a plan to potentially double the investment based on future demand
- The U.S. market is critical to EDGNEX’s global and exponential growth strategy.
- As a group, DAMAC is invested significantly in the U.S. through several private equity funds and in real estate in Miami.
- The data center expansion will include key U.S. regions, i.e. Sunbelt and Midwest states.
DAMAC Properties Advances in the Construction of DAMAC Bay 1 by Cavalli
DAMAC Properties has announced significant updates on the construction of DAMAC Bay 1, the developer’s upscale Cavalli-branded development at Dubai Harbour. Foundation works are now underway, marking a crucial phase in the development, and two construction cranes have been erected, a signal of rapid progress. Launched in January 2023, the project is on schedule for completion in July 2027.
DAMAC Celebrates a Successful Participation at LPS Shanghai 2024
DUBAI, UAE, 24 December 2024 – DAMAC Properties recently concluded a successful participation at the prestigious LPS Shanghai 2024, the 23rd edition of the largest international luxury real estate expo in the Asia-Pacific region.
Held from December 6th to 8th at the Shanghai Exhibition Center, this event showcased over 150 high-end real estate brands from more than 40 countries, representing top-tier real estate firms from over 220 cities worldwide.
DAMAC commits USD 10 million to bolster Dubai Cares' crisis response and support for displaced families in Lebanon
DUBAI, UAE, 13 November 2024 – As part of its commitment to the 'UAE Stands with Lebanon' initiative and in response to the escalating humanitarian crisis in Lebanon, DAMAC has committed USD 10 million to Dubai Cares, a civil society organization formally associated with the United Nations Department of Global Communications (UN DGC), to bolster its emergency response and support displaced families in Lebanon. This significant contribution aims to deliver critical aid and meaningfully engage DAMAC employees in meaningful humanitarian efforts during Lebanon’s time of need.
EDGNEX Data Centers by DAMAC Powers European Expansion with 40MW Data Center Investment in Spain
Dubai, United Arab Emirates, Oct 15th, 2024: EDGNEX Data Centers by DAMAC, a global digital infrastructure provider and part of the DAMAC Group, has taken a significant step in its international expansion by acquiring prime land in Madrid, Spain, for the development of a cutting-edge data center. The site has been acquired from real estate private equity manager ActivumSG.
UAE headquartered EDGNEX Data Centers by DAMAC announces strategic JV with Thailand based group, PROEN Corp
Bangkok, Thailand – October 11, 2024 – EDGNEX Data Centers by DAMAC, a global digital infrastructure provider, has announced its second significant investment in Thailand's digital infrastructure. EDGNEX plans to invest over 32 billion Baht (1 billion USD) in a series of data center projects to meet the rising demands of advanced AI technology and data processing capabilities. EDGNEX is owned by DAMAC Group, a global leader in real estate development, data centers and other sectors.
DAMAC REAL ESTATE DEVELOPMENT LIMITED - Moody's Affirmed Ba2 Rating and Changed Outlook to Positive
Dubai, United Arab Emirates, 9 October 2023: Moody’s Ratings (Moody’s) revised the outlook of Damac Real Estate Development Limited from stable to positive and affirmed its corporate credit rating, as well as the rating on its US$600mn senior unsecured trust certificates due 2027, both at ‘Ba2’.
The rationale for this change reflects the company's continued strong sales performance, active construction activity, improving credit metrics, and a solid track record in cash flow and liquidity management.
DAMAC Unveils New Nature-Centric Community, DAMAC Sun City in Dubai
Dubai, UAE, 7 October 2024 – Aligning with the UAE’s vision to advance the nations and its people’s aspirations and enhance citizen well-being, DAMAC Properties announced the launch of its fifth master community, DAMAC Sun City. Located in Dubailand this new development will offer a unique blend of wellness-focused living, nature, and modern luxury benefitting physical, mental, and overall resident well-being.
DAMAC Properties Strengthens Commitment to Sustainability at DEWA’s WETEX 2024 with Innovative Solutions
Dubai, UAE – October 1, 2024: DAMAC has returned as a Titanium Sponsor for the 26th Water, Energy, Technology, and Environment Exhibition (WETEX 2024). Organised by the Dubai Electricity and Water Authority (DEWA), the exhibition was inaugurated today by H.H. Sheikh Ahmed bin Saeed Al Maktoum, Chairman of the Dubai Supreme Council of Energy and will be held until October 3, 2024 under the directives of HH Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai.
DAMAC Properties Announced as Official Palladium Sponsor for YPO’s 2024 Global Business Summit
Dubai, UAE, September 10 – DAMAC Properties, a leading luxury real estate developer in the Middle East, has officially signed an agreement today to become the Palladium Sponsor for the 2024 Global Business Summit hosted by YPO, the global leadership community of more than 35,000 chief executives in 150 countries.
