- 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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SOURCE DAMAC Group