Founded in 2002 by Hussain Sajwani, DAMAC Group is a residential and commercial real estate company throughout Dubai and the Middle East. DAMAC has recently issued a new tender for construction of a second tower at AYkON City. AYKON City, overlooking the Dubai Canal, is a six tower luxury development from DAMAC Group. The tower will be massive with multiple basements, over 40 residential floors, and ten podium levels with a ground floor and rooftop as well as an entertainment level. All together the area will be 1.7 million square feet.
Mohammed Tahaineh, the Senior Vice President over Commercial DAMAC Properties said,“Construction development at AYKON City site is progressing rapidly with piling work for this tower already completed, so we have moved to the tendering stage which will see a new construction partner being appointed as early as May 2018.”
AYKON City is among DAMAC’s most ambitious and unique developments. The idea is an entire city-like infrastructure in Dubai. Within the six towers are residents, apartments, a hotel, and office spaces. With gorgeous views of the Dubai Canal, AYKON City will house AYKON Plaza, and entertainment and lifestyle accommodation. This plaza will house swimming pools, a spa, beach club, cafes and restaurants, exercise classes and a private recreation space for residents. Hussain Sajwani, owner of DAMAC is very excited for the future of AYKON City.
Born in 1954, Hussain Sajwani has worked hard for the success of his company. While Hussain’s father wanted his help with family shop, Hussain wanted more for his career and pursued education instead. DAMAC Group was created and developed to take advantage of a decree in Dubai that allows foreigners to own real estate. Hussain noticed many real estate companies were not using this to their advantage, though there were many foreigners looking for properties. Hussain actually sold his first residential building before it was even constructed. Now the company has completed many award winning projects in Dubai, Qatar, the United Kingdom, Saudi Arabia and other locations.