25 Jumada I 1445 - 9 December 2023
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Eye of Riyadh
Business & Money | Monday 8 May, 2023 6:23 pm |

Damac Real Estate Development Limited (DAMAC) Joins UN Global Compact Initiative

  • The programme aims to take action in support of UN goals and issues embodied in the Sustainable Development Goals
  • DAMAC joins global network of committed companies to take responsible business action for a better world

DAMAC has joined the United Nations Global Compact initiative — a voluntary leadership platform for the development, implementation and disclosure of responsible business practices. 


With this announcement, DAMAC joins other companies globally committed to taking responsible business action to create the world we all aspire to. 


The UN Global Compact is a call to global companies to align their operations and strategies with ten universally accepted principles in the areas of human rights, labour, environment and anti-corruption, and to take action in support of UN goals and issues embodied in the Sustainable Development Goals (SDGs). 


Launched in 2000, the UN Global Compact is the largest corporate sustainability initiative in the world, with more than 15,000 companies and 3,000 non-business signatories based in over 160 countries, and more than 70 local networks. 


“In line with our commitment to sustainability and sustainable principles, we are proud to have joined the UN Global Compact initiative which acts as a natural transition that aligns with our goals and vision,” said Hussain Sajwani, Founder and Chairman of DAMAC. “


“DAMAC will strive to work towards safeguard our communities, assets, workforce and stakeholders in order to foster a diverse and inclusive workplace, supporting our communities, and promoting transparency, accountability, and ethical practices across our organisation,” he added.


DAMAC has been mindful of adapting to environmentally-friendly features and aims to incorporate sustainable building practices into its planning and construction phases. 


In April this year, a Board of Directors was established to improve the leadership structure and administrative roles necessary for effective governance and management of the company that included aligning DAMAC business practices with the United Nations Global Compact initiative.


In addition, the Company is currently all set to be awarded a LEED gold certification for its third and latest master community, DAMAC Lagoons, aspiring to be the first in the UAE to do so. 


Working in tandem with processes to align energy, environment, and sustainability is an ongoing process at DAMAC. As builders and professionals in the construction and real estate sectors, the Company believes it is their responsibility to engage with and implement best building practices that pave the way for safer future generations.


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