Enabling sales at Cityscape will boost sector growth, drive stronger visitor appeal and attendance; DAMAC to launch several new projects during show

Dubai, United Arab Emirates – 17 August 2017: DAMAC Properties, a leading luxury real estate developer in the region, sees the decision to allow onsite sales at this year’s Cityscape Global 2017 as a positive step to help boost property sector growth. The 16th Cityscape Global 2017 conference and exhibition is being held from 11 – 13 September in Dubai, and is the region’s meeting point for the real estate market and one of the largest industry events globally.

“For the first time, Cityscape Global will be allowing onsite property sales which we believe is a strong indication of the important role this event plays in driving sector growth locally and internationally,” said Niall Mc Loughlin, Senior Vice President at DAMAC. “In Dubai, we are seeing positive demand for our residential and hotel apartment properties, and this is in line with the recent announcement by the Dubai Land Department (DLD) reporting AED 132 billion in property transactions in the first half of the year, a notable gain over the same period last year which saw AED 113 billon. We applaud this decision which not only increases interest and footfall by visitors, it also ushers in a new era of growth in Dubai’s evolving property market.”

As it continues to expand its portfolio of properties in the UAE and globally, DAMAC will have a significant presence at this year’s Cityscape global with a 528 square meter stand which will showcase its extensive range of bespoke villas, luxury apartments, hotel apartments, hotel villas and serviced apartments from its developments across Dubai.  The company will announce several new projects, as well as a number of new villa concepts targeting families and end users.

On Monday, DAMAC announced its first-half 2017 financial results which included AED4 billion in booked sales and net profit of AED 1.6 billion.  DAMAC also announced first-half 2017 delivery of 1,071 units at its DAMAC Hills master development, bringing the total number of units delivered there to over 3,100.

DAMAC has delivered more than 18,500 homes and has over 44,000 units in various stages of development. The Company’s footprint extends across the Middle East with major projects in the UAE, Saudi Arabia, Qatar, Jordan, Lebanon, United Kingdom and Oman.

Get more information at www.damacproperties.com

DAMAC Properties has been at the forefront of the Middle East’s luxury real estate market since 2002 – bringing luxury living experiences to residents from all over the world. Making its mark at the highest end of stylish living, DAMAC Properties has cemented its place as the leading luxury developer in the region, offering iconic design and the upmost quality. The company’s footprint now extends across the Middle East with projects in the UAE, Saudi Arabia, Qatar, Jordan, Lebanon and the United Kingdom.

As of 31st March 2017, DAMAC Properties has delivered approximately 18,500 homes. The company has a development portfolio of over 44,000 units at various stages of progress and planning, comprising more than 13,000 hotel rooms, serviced apartments and hotel villas, which will be managed by its hospitality arm, DAMAC Hotels & Resorts. With vision and momentum, DAMAC Properties is building the next generation of Middle East luxury living.

Follow DAMAC Properties on Facebook, Twitter (@DAMACofficial) and YouTube.

For more information, please contact: Niall McLoughlin, Senior Vice President, DAMAC Properties. Tel: +971 4 3731000 │ Fax: 00 9714 3732335 │Email: niall.mcloughlin@damacgroup.com

© Press Release 2017