'Ferrari Challenge Championship 2007' held at circuits such as Monza, Misano, Imola, Silverstone, Vallelunga, Mugello, Le Castellet will culminate in Italy at Ferrari World Finals

Dubai: May 24th, 2007: DAMAC Properties, the largest private sector master developer and luxury lifestyle provider in the Middle East is participating in the Ferrari Challenge Championship 2007. The DAMAC F430 Challenge Ferrari race car finished 3rd in Misano, Italy and 4th in Monza, Italy out of the 29 cars that participated. The F430 Challenge Ferrari race car will be entrusted to Team Motor www.ferrarimotor.it/index_uk Team Motor is associated with racing car training and servicing since 1992.

The UK leg of the tour will take place at Silverstone on 8, 9 and 10 June as part of Ferrari's 60th birthday celebrations. This very special showcase weekend will be the only opportunity to see the full range of road and race Ferraris in action in the UK in 2007. 

"We are expanding rapidly and we see this participation in the Ferrari Challenge 2007 as a great step forward for DAMAC Properties into the European market. DAMAC's personality reflects luxury, whether it is the elevator or a mirror on the wall or any décor in the apartments. One thing that reflects from all corners of our property is luxury. Today, we are proud to be associated with one of the world's leading brands - Ferrari, which is also symbolic of high end luxury," said Mr. Hussain Sajwani, Chairman DAMAC Holding.

"Since its debut, the Ferrari Challenge has been one of the most competitive series on the entire Challenge scene, attracting a plethora of top class drivers year after year. The start grids are always packed and the outcomes are often nail-bitingly uncertain right until the very last bend. The DAMAC F430 Challenge Ferrari race car will feature DAMAC's bright yellow branding so it should be easy to spot as it whizzes across the finishing line, hopefully in first place," said Peter Riddoch, CEO at DAMAC Properties.

The car will be managed by Ferrari Team Motor and will race in a total of eight rounds to the Challenge held at circuits such as Monza, Misano, Imola, Silverstone, Vallelunga, Mugello and Le Castellet culminating in the finals which takes place in Italy at the Ferrari World Finals. DAMAC's pilot is ace young driver Giacomo Piccini www.giacomopiccini.com

"Luxury brand development is time consuming; however we have accelerated the process through our commitment, customer service and world class quality standards. This initiative with Ferrari is yet another unique way of communicating with our target audience in the international marketplace. Through this high-end sports marketing initiative, we are confident that our brand will have a very high brand recall amongst our target audience based in these markets," added Mr. Riddoch.

Calendar for the remaining races in the Ferrari Challenge:

Dates

Venue

08-10   June

Silverstone (UK)

16-17   June

Vallelunga, Italy

14-15   July

Mugello, Italy

01-02   September  

Le Castellet (France)

25-28   October  

World Finals


In line with the government's introduction of freehold ownership, DAMAC was the first to introduce iconic properties on all the freehold master planned development launched by Dubai and Abu Dhabi governments. Today DAMAC Properties is spread across 350 million sq. ft. of luxury, with over 6800 customers - across 5 countries. It is a subsidiary of DAMAC Holding established in 1982. DAMAC Holding has now grown into a global conglomerate with more than 7000 employees in over 18 countries.

-Ends-

ABOUT DAMAC PROPERTIES:
DAMAC Properties is part of DAMAC Holding. The company was established in 1996 and has grown into one of the most successful residential, leisure and commercial master developers in Dubai and the Middle East, and is expanding rapidly into North Africa, Jordan, Lebanon, Qatar and the Far East. By partnering with world renowned architects and designers, DAMAC Properties aims to develop schemes that include residential, commercial and leisure facilities that will create an integrated community. The company's schemes are located in the most desirable and exclusive locations and the homes are built to a high quality specification that has become synonymous with the group. Driven by a passion for excellence, DAMAC Properties manage all their projects from start to finish. The company's diverse range of expertise allows them to control their land purchase activity, appointment of architects and designers, construction and sales and after sales service. In addition to support services provided by their Dubai headquarters, the company's comprehensive Customer Care Program provides solutions through its vast regional network with offices in the UK (London, Manchester and Glasgow), UAE, Iran, Russia, Jordan, Lebanon, Egypt, KSA and Qatar. DAMAC Holding has grown over the years from a specialist catering company established in 1982, into a multi-billion dollar corporation to become one of the largest organizations in the Middle East. For further information, please refer to www.damacgroup.com and www.damacproperties.com.

Media contact:
Prem A. Ramachandran,
DAMAC Properties,
Tel: 00 9714 3322005
Fax: 00 9714 3311028
Email:prem@damacgroup.com

Agency Contact:
Ashutosh Gupta,
PanGulf PR,
M: +97150 2834339
ashutosh@batespangulf.com
 

© Press Release 2007