Farooq Arjomand on Blogger: DAMAC Properties and Farooq Arjomand

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.

Farooq Arjomand

Holding a bachelor’s degree in business management from Seattle Pacific University, Farooq Arjomand has led a highly successful career. He started out at HSBC as a banker and gradually worked his way up to senior manager of in Dubai. During the more than 15 years he spent at the company, he gained experience in customer services, corporate finance, and investment banking. Also a founding member of Emaar Properties and Amlak Finance, Farooq Arjomand continues to serve as the vice chairman and director of the Amlak Finance executive committee.

After more than a decade and a half in the banking industry, Farooq Arjomand began considering opening and running his own business. Given his family’s background in textile trading, he founded a trading enterprise called the Arjomand Group. Still serving as the founding chairman and CEO of the company, Mr. Arjomand manages the group’s operation of more than 15 companies in a variety of sectors, from hospitality to corporate services. Under his leadership, the group grew from a small company in Dubai to one that maintains offices in Europe, the Far East, USA, and Arab nations.

In his free time, Farooq Arjomand enjoys a variety of hobbies. Having traveled around the world, he enjoys Thai and Chinese cuisine. Also a fan of sports, he has a background in teaching kickboxing and still enjoys the activity. He also is fond of soccer and martial arts.