/24-7PressRelease/ - AMMAN, JORDAN, September 28, 2007 - Luxury lifestyle provider and the region's largest private sector master developer, DAMAC Properties, today announced that it has launched 79 state-of-the-art towers across UAE, Qatar, Jordan, Lebanon and Saudi Arabia over the last 5 years. In addition to the towers, the company's Gamsha Bay project is shaping up in Egypt - one of the largest master developments in the region. All these projects are in various stages of construction.
"We have grown at a tremendous pace and we have set the path for others to follow. We are proud that we are an integral part of the exponential growth that the country and the region has witnessed in the past and also will continue to play a vital role in growing the industry. Our masterpieces are unique and we are determined to delight our customers and raise the bar at every given occasion," said Hussain Sajwani, Chairman of DAMAC Holding.
DAMAC's projects are in major master developments such as the region's bustling business metropolis - Business Bay, Dubailand, TECOM Zone, IMPZ, Jumeirah Village, Dubai Marina among other major master developments in various geographic locations.
"Our properties are in prime locations and this enables the companies to set up their international, regional or local headquarters. We are serious in both the segments, the residential and commercial properties, and will definitely aim to further strengthen our position in these sectors in the near future. We have several projects coming up in the commercial marketplace. We are at 79 today and soon the number will grow in the near future," said Peter Riddoch, CEO, DAMAC Properties.
"The supply of residential and commercial units will be mostly absorbed by the existing demand, reducing potential for over supply. Therefore there is a huge investment potential in this market as it is still very much in the growth phase," added Mr. Riddoch.
"An ultra-modern metropolis with some of the most breathtaking architectures, towering skyscrapers, quiet boutique offices, world-class shopping malls, restaurants, cafes and entertainment facilities. A truly business and leisure hub, Dubai is the destination for the smart business community and intelligent property investor," added Mr. Riddoch.
Furthermore, DAMAC Properties last year won three prestigious awards at the CNBC Arabian Property Awards 2006. Property developer bagged the best development award for 'Oceanscape', best architecture award for 'Ocean Heights 2' and the best website award for the company's website - http://www.damacproperties.com. In December 2006, the company also won the IREF ME award for the best residential development in the UAE.
Prem A. Ramachandran, DAMAC Properties,
Tel: 00 9714 3322005 │ Fax: 00 9714 3311028 │Email:prem@damacgroup.com
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