Wednesday, February 17, 2016
DAMAC Properties and Farooq Arjomand
The founding chairman and CEO of the Arjomand Group Farooq Arjomand has a family background in imports and exports. After receiving his BA rom Seattle Pacific University with a focus in management, Farooq Arjomand went on to create one of Dubai’s premier regional business groups. Farooq Arjomand also serves as a member of the boards of DAMAC Properties, Amlak Finance, and Al Ahlia Insurance.
Established in 2002, DAMAC builds residential, commercial, and leisure properties in five countries. Since its inception, this luxury real estate developer has constructed over 14,000 units and has over 37,000 in progress, along with 13,000 serviced hotel rooms, apartments and villas. With a completion date scheduled in 2019, the 826-unit Paramount Tower Hotel & Residences in Dubai will be built 64 stories high with a rooftop infinity pool and views of the Burj area.
DAMAC Properties has seven board members, and all have backgrounds in economics, finance and other business-related fields.