/24-7PressRelease/ - AMMAN, JORDAN, March 29, 2008 - is sponsoring the German KADACH Racing Team, one of the pillars of the Porsche Mobil 1 Supercup this year.
The Porsche Mobil 1 Supercup is a high-ranking race series of 11 world-class races to be held on the same track as well as the same day as the Formula One Grand Prix races across the various European GP circuits and the Bahrain GP raceway at Sakhir.
Speaking about the partnership with the KADACH Racing Team, DAMAC Holding Chairman, Hussain Sajwani said: "DAMAC's association with iconic championship races are not new and we strongly believe in being part of these exciting events held across the globe. Today, DAMAC has a global presence, backed by an enviable project portfolio worth $30 billion worldwide and over 110 nationalities have invested in our unique projects. DAMAC's sponsorship of KADACH Racing Team at the Porsche Mobil 1 Supercup therefore clearly underlines the importance of the German market for us."
He added: "This sponsorship deal comes close to our decision to open our first sales office in Hamburg, scheduled for next month. We already have almost 52 sales offices globally and we are expanding rapidly and this deal with KADACH is a step forward for DAMAC Properties in our foray into the European market. We look forward to a continued relationship with the KADACH Racing Team in the years to come and we aim to stimulate increased investor demand from the European markets in the future."
The Porsche Mobil 1 Supercup is acknowledged to be the most competitive and at the same time the fairest challenge with powerful, identical Porsche 997 GT3 cars. Passion, entertainment and pure drama are guaranteed during the Formula 1 - Porsche Mobil 1 Supercup weekends.
Commenting on the sponsorship, Gottfried Kadach, CEO of KADACH Racing Team, said: "We are proud to announce our participation in the Porsche Mobil 1 Supercup championship with our partner DAMAC Properties from Dubai. We are extremely delighted by this association and we look forward to having a long continued relationship with the leading property developer. The KADACH team shares an inseparable relationship with Porsche for 20 years now and I am confident that the DAMAC KADACH Racing Team will emerge as winners this time as well."
In 2002, the KADACH Racing Team won the Team and Driver's Championships in the Royal Class of the One Make Cups and confirmed their success again in 2003 by winning the Driver's Standings and becoming Vice-Team Champion.
DAMAC Properties CEO, Peter Riddoch said: "We are extremely pleased to be the team sponsors for the KADACH Racing Team and we are confident of their performance as they have always reached the top five positions in the past decade."
He further added, "Dubai is a hot destination for travel and investment opportunities and DAMAC Properties provides luxurious and rewarding properties to people while promoting the region on the world map. The German buyers are investing heavily in the region due to the high-returns on properties in a short time. I am confident that the global fluctuations in interest rates will also play pivotal roles in contributing towards an upward moving real estate sector of Dubai."
DAMAC Properties won two prestigious awards at the recent CNBC Arabian Property Awards 2007 - for the top property, developer received the 'Best High Rise Development' award for 'La Residence at the Lotus' and the 'Best Website' award for the company's revamped website - http://www.damacproperties.com.
DAMAC's La Residence at the Lotus in Business Bay Dubai has won the Best International High Rise Development Award that was held at Las Vegas recently.
TRACCS Jordan
Maha Al Rawashdeh
Fax: (+962) 6 5924334
E-mail: jordan@traccs.net
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