Damsco Group: Future Investment Aspirations And
Digital Transformation Applications In Dubai
After adopting the vision of Sheikh Zayed, and with the wisdom and guidance of His Highness
Sheikh Mohammed bin Rashid Al Maktoum, Dubai has succeeded in attracting major leading
international, commercial and economic Institutions to compete on its territory, in accordance
with the UAE’s legislation, laws and facilities. Faced with this great economic momentum Mr.
Mohannad Al Masre, Chairman of Damsco Group decided to enter UAE’s investment market in
2011, after successful experiences in the Middle East.
The Dawn of Damsco group
Damsco Group was established in Damascus in 2004, when it started its investments in the
fields of the Stock Exchange Market, the Main Food Commodities Trade, and the Automotive
Trade. Soon, the Group was able to raise its revenues in the local market, and registered
significant growth during the first four years of its inception.
After their success, the Group’s Board of Directors, led by Mr. Mohannad Al Masre decided to
expand the geographical area of its investments by opening a branch in Baghdad in 2008, in
addition to its projects in Syria.
These investments began in the oil and electric power generation sectors. The group has also
entered major food tenders in Iraq to continue their success story further.
In 2011, the group opened an office in the heart of Dubai’s commercial city to enter the UAE’s
economic competition. The Group’s Board of Directors believed that it was imperative to
diversify investments. Thus they launched new projects in the real estate market, media
marketing and government-related events in the UAE.
It was not long before the group set out for Europe through investments in Turkey. Indeed, an
office was opened in Istanbul in 2017, to launch enterprises in the power generation sector and
the trading of minerals and oil derivatives.
Why invest in the future?
Damsco Group is currently studying the possibility of digital transformation and the inclusion of
digital applications within its diverse companies: Damsco Events – Damsco Media – Damsco
Marketing – Damsco Car Rental – Damsco Trading-Damsco Logistics.
The group looks forward to competing in the “Joint Arab Vision for Digital Economy” launched
at the end of 2018 in Abu Dhabi, and become a part of the digital equation in the future
economic competition within the UAE.
The Group’s management believes that modern investment rules have evolved, and ambitious
companies have to renew their “economic cells” to become more flexible and receptive to
technological requirements, digital applications and challenges in the area of artificial
intelligence.
People who are not familiar with the dynamics of the economy in Dubai may think that private
companies, adopting digital transformation and smart applications, is a kind of “commercial
vanity.” However, the city’s access to advanced infrastructure, communication technology, and
the smart road transportation network allows for such “intellectual appearances”, and
effectively contributes to the implementation of any project, regardless of its needs.
With these facilities offered by Dubai government departments, companies and institutions
have two choices: Either a gradual shift to intelligent applications and a digitization policy,
which is not easy, as this requires a clear strategic vision as well as an assessment of the
company’s financial, human and technological capabilities that can make this vision a success.
Or, making a bold decision, and climbing the economic ladder to reach the summit, a necessary
part of the future economic system in the UAE.
Damsco Group believes that conducting a digital transformation in its administrative and
financial structure through the development of its internal departments such as public
relations, human resources, financial management, personnel and other departments, will
reflect in the productivity of its employees and its relationship with customers and competitors.
The Chairman of the Group, Mr. Mohannad Al Masre, through his cadres, seeks to develop
innovative digital models to test the quality of their services and ensure the welfare of
customers, while maintaining their professionalism and excellence. However, the Group did not
disclose details about future implementation mechanisms as they prefer to wait until the right
time in the future.
In this regard, the Group coordinates and cooperates with renowned UAE companies in the
field of technology and innovative industries to ensure high quality and technological
advancement.
In the end, everyone can start investing, but, a solid foundation and proper planning in any
organization are what ensure its continuity and economic leadership.
Written By: Mohannad Al Masre
Website: https://mohannad-almasre.com/