Dubai, UAE/ Germany: August 23, 2022: Dubai-based conglomerate DAMAC
Group has announced it is exploring investment opportunities in Germany with
an estimated spend of up to €1 billion.
Hussain Sajwani, Chairman of the DAMAC Group — best known for its luxury
real estate development in the Middle East and globally — is particularly
interested in data center and tech-related opportunities, and the company is
currently on a fact-finding mission in Germany to research the market and
possibly identify mutually beneficial partners.
“It’s a very interesting time now in Germany, especially for future-oriented
industries and the country has a lot of opportunities in sectors such as data
centers. I see a lot of opportunity and potential, especially in Eastern Germany
that I would like to explore and learn more about,” Sajwani said.
In 2021, DAMAC entered the data center world with its launch of Edgnex, a
global digital infrastructure provider that identifies and invests in the next digital
hubs. The following year, the company announced it would facilitate
cryptocurrency payments and would also establish D-Labs, a company that
would build digital cities in the metaverse.
Apart from real estate, DAMAC Group has a diverse and rich portfolio including
Capital Markets, Data Centres, Hospitality, Fashion, and Retail. In the past few
years, Sajwani not only acquired the famous Swiss jeweler de Grisogono, but
also the iconic Italian fashion powerhouse Roberto Cavalli with the aim to revamp
the brands for a younger clientele while preserving their cherished legacies.
DAMAC Group has also collaborated with a variety of powerful brands in its
property developments including Paramount, Radisson, Rotana, The Trump
Organization, Fendi Casa, Versace Home and Mandarin Oriental, demonstrating
the company’s global relationships and impact.
Sajwani is recognized as one of the most powerful Arabs, among many other
accolades. He is also a close business partner in the United Arab Emirates of
former US President Donald Trump has developed the Trump International
Golf Course.
DAMAC is looking to expand its footprint in Europe, has entered a joint
venture in Denmark to build single-family residential developments across
Scandinavian countries.
DAMAC’s international projects include the 50-story DAMAC Towers Nine Elms,
a flagship project in central London with Versace interiors. Further afield, DAMAC
is also developing in Toronto in a partnership with Canadian developer Marlin
Spring and has recently acquired grade A, sea-facing land in the upscale
neighborhood of Surfside in Miami Florida to build a Cavalli-branded iconic
tower.
“DAMAC has been a respected and recognizable name in the Middle East for
quite some time, but in the past few years, we have been making waves globally,
with projects in Europe, Canada, and the United States. More and more, we are
demonstrating our various strengths in the global market,” Sajwani added.
“We are keen on diversifying our portfolio, especially when it comes to futuristic
endeavors, so that we stay ahead of the curve,” he concluded.
