The company was founded in 2002 when the Dubai government opened the real estate market to international investors and allowed them to own property on freehold rights. According to the founder of the company Hussain Sajwani, the mission of DAMAC is to transform the UAE into a global center of trade, hospitality and lifestyle.

The developer owns three subsidiaries: DAMAC Maison, DAMAC Properties Development Co LLC and DAMAC Real Estate Limited Development. Back in 2013, DAMAC Properties shares were listed on the London Stock Exchange for the first time(LSE), which was the start of worldwide recognition of global investment attractiveness among developers in the UAE. In 2018, the company joined the Middle East Investor Relations Association. The mission of this organization is to increase the efficiency, reputation and attractiveness of capital markets in the Middle East.

Currently, DAMAC Properties is one of the biggest licensed real estate development companies in the UAE. In addition, the company is widely known for its charitable activities as DAMAC Properties supports the campaigns of His Highness Sheikh Khalifa bin Zayed Al Nahyan and provides assistance to the Emirates Red Crescent (UAE branch of the International Federation of Red Cross and Red Crescent Societies).