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Damac launched $3.5bn major projects in 2016

DUBAI, September 5, 2016

Damac Properties, a leading luxury real estate developer in the UAE, said it has launched 10 major projects so far this year with a combined value of over Dh13 billion ($3.53 billion).

The announcement comes ahead of Cityscape Global 2016 which opens its doors tomorrow (September 6) at the Dubai World Trade Centre.

The new range of projects announced for the first half comprised Aykon City hotel apartments and hotel rooms, Aykon City residential apartments, XV Villas at Akoya by Damac, The Beach by Maison De Ville, Tower 108, Akoya Cuatro Villas, Akoya Imagine, Akoya Imagine plots, and Akoya Imagine 2.0.

Ziad El Chaar, the managing director, said: "We are pleased to bring to market a further range of projects for discerning customers and investors looking for a choice of attractive and lucrative investment opportunities."

"With exclusive, luxury residential apartments in the most convenient and easily accessible locations, we offer premium quality combined with the assurance of strong financial returns," he stated.

"As we continue to deliver outstanding projects, cementing our position as one of the Middle East’s leading real estate developers, we believe the market is set to deliver significant growth and opportunity in the near future," remarked El Chaar.

"With an economy that constantly outperforms the region, Dubai continues to develop as one of most attractive locations for real estate investors in the world," he added.

As per Dubai Land Department data, more than Dh57 billion ($15.5 billion) was invested in real estate in the emirate during the first half. Moreover, the market now offers stronger yields and potential for greater capital growth in the run up to Expo 2020 Dubai.

Damac Properties’ robust and sustainable model enabled the company to maintain substantial confidence in its business, products, and ability to continue to outperform the market, said El Chaar.

 With a diverse portfolio of masterplanned developments, residential towers, hotels and hotel apartments in key locations, Damac Properties is expected to deliver 2,700 to 3,000 units in 2016, he added.-TradeArabia News Service




Tags: Damac | Cityscape | developer | Projects | luxury |

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