- Sights on global expansion for DAMAC Properties as
appetite for DAMAC's luxury portfolio grows even further amongst
investors in Asia Pacific (APAC)
and other global markets, including across the US and Europe
- DAMAC Properties previously announced its Shanghai office opening in December 2023 in APAC
DUBAI, UAE, May 7, 2024 /PRNewswire/ -- UAE-founded real
estate developer with global aspirations, DAMAC Properties, has
announced brand-new office openings in Beijing and Singapore. With its sights firmly set on
global expansion, the office openings signal the brand's push and
significant investment and commitment to APAC. As UAE's largest
private real estate developer with headquarters in Dubai since 1982, DAMAC has grown
exponentially to an impressive diverse portfolio, including luxury
real estate developments, hospitality experiences, data centres,
retail, fashion, and capital markets. In December 2023, DAMAC announced plans to enter the
Chinese market with its entry into Shanghai, capitalising on the growing demand
for the UAE and DAMAC's portfolio from Chinese HNWI and UHNWI
investors.
The official ribbon cutting and event in Singapore was conducted by H.E.
Jamal Abdulla AlSuwaidi, Ambassador of The United Arab Emirates to the Republic of
Singapore, Dr Brian Shegar, President, UAE Singapore
Business Council, Mr Mohamed Al
Zarooni, UAE Head of Economic Affairs and Media,
Singapore, and Hany Kotat, VP,
International Sales, DAMAC Properties. The launch event included
CEOs and Heads of the top brokerage firms in Singapore, including Propex, Huttons, ERA,
Orange Tee and Tie and SRI.
Abbas Sajwani, Board Member, DAMAC Properties, commented:
"Since 2002, DAMAC Properties has been synonymous with redefining
luxury. We are excited as we expand our footprint further into APAC
with our recent office openings in Beijing and Singapore. With excellence in our DNA, today
we create products of the highest international standards. Across
APAC, we see discerning, seasoned, high-value individuals who are
looking to buy premium and quality developments for investments and
as a home alike. We look forward to working with our partners in
bringing DAMAC's acclaimed global portfolio to APAC markets."
Today, DAMAC's total portfolio comprises over 75+ towers,
multiple branded residences, large communities, hotels and
hotel apartments across 12 global cities such as Dubai,
London, Toronto and Riyadh. Some of the globally acclaimed
projects include DAMAC Tower Nine Elms
London, Europe's first Versace-branded luxury residence
tower, Safa Two by de GRISOGONO, overlooking the iconic Dubai
Canal, Canal Crown by de GRISOGONO, Mediterranean lifestyle
inspired DAMAC Lagoons- UAE's first pre-certified LEED Platinum
community. A range of upcoming projects include Zaha Hadid
Architects designed condo in Miami
and a luxury resort in partnership with Mandarin Oriental in
Maldives that is set to redefine
the standards of luxury hospitality.
Anson Tay, Managing Partner, SRI:
"Dubai's property market and the
city continue to be attractive for investors and residents from
Singapore and across APAC.
Dubai's leading developers know
and understand luxury craftsmanship in real estate developments
well. DAMAC is one example that has delivered on promises with a
whole range of luxury developments and investment
opportunities."
Michael Long, CEO, Senturion Real
Estate: "A TrendLens report in 2023 from luxury consulting
firm Agility revealed that more than 20% of Chinese millionaires
were planning to visit the Middle
East in 2024 with consumers having accumulated capital to
invest in international real estate. Dubai and the UAE offer high yields, safety,
speed, stability and an opportunity to own true luxury and quality
with a developer like DAMAC."
The DAMAC Office in Singapore
is located at Asia Square Tower 1, Marina
View, Marina Bay,
Singapore, 11th Floor, Unit
06.
The DAMAC Office in Beijing is
located at East Tower, No.1 East Middle 3rd Road, Beijing, 4th Floor, Unit 03.
The Shanghai DAMAC Office Address is located at 3 Corporate
Avenue
168 Hubin Road, Huangpu District, Shanghai, 25th Floor, Units 2510-2511.
A significant number of agent partnerships are in place to
manage demand within both markets.
About DAMAC
DAMAC has been at the forefront of the Middle East's luxury real estate market since
2002, delivering award-winning residential, commercial and leisure
properties across the region, including the UAE, Saudi Arabia, Qatar, Jordan, Lebanon, Iraq, the Maldives, Canada, the United
States, as well as the United Kingdom. Since then, the
company has delivered approximately 46,000 homes. Joining forces
with some of the world's most eminent fashion and lifestyle brands,
DAMAC has brought new and exciting living concepts to the market in
collaborations that include luxury homes in association with
Versace, Cavalli, de GRISOGONO, Zuhair
Murad, Paramount Hotels & Resorts, Rotana and Radisson
Hotel Group. With a consistent vision and strong momentum, DAMAC
Properties is building the next generation of Middle Eastern luxury
living.
Visit us at www.damacproperties.com
Follow DAMAC Properties on Facebook,
Twitter, Instagram,
LinkedIn and
YouTube (@DAMACofficial).
For more information, please contact: Corporate
Communications, DAMAC Properties: Tel: +971 4 373 2197 │Email:
corporatecommunications@damacgroup.com
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