The company has achieved a lot in past 12 months. In December, it became the first Dubai-based property developer to list on the London Stock Exchange following a successful IPO, which raised around $380mn for founder Hussain Sajwani, who cashed in a 14.3% stake in the business. It also gave Damac a market capitalisation on flotation of $2.86bn. Damac then went on to raise a further $650mn through a sukuk in April.

Damac Properties is working on new schemes across Dubai, from Akoya by Damac in Dubailand to Damac Towers by Paramount in Business Bay.

It is also working on Damac Esclusiva in Riyadh and Damac Residenze in Dubai – two projects in collaboration with Italian luxury fashion house Fendi.

Managing director Ziad El Chaar, who has been with Damac for nine years, said: “The recovery phase, which is under way in the global economic environment, is boosting the confidence of investors to venture into new projects.”