DAMAC launches 'The Corner' at Business Bay

Company's 7th commercial tower at Business Bay

DUBAI, June 18^th, 2007: DAMAC Properties, the largest private sector master developer and luxury lifestyle provider following the outstanding success of its previous 6 projects - announced the launch of yet another masterpiece - 'The Corner'. This is also an exciting commercial development at the heart of Business Bay. The 19 storey tower will feature state-of-the-art office spaces as well as retail and recreational facilities that promise to make The Corner one of the most sought after corporate addresses.  

"Our presence in the Business Bay stems from our belief in the extremely vibrant and dynamic master plan for the development. The launch of The Corner follows the impressive success experienced by the company's previous six projects at Business Bay - 'Executive Bay', 'Business Tower',  'XL Tower', 'Capital Bay', 'Park Central' and 'Business Central'.

The Corner will represent the wealth of our global expertise and we are determined to offer our valued customers the best facilities the industry has to offer," said Mr. Hussain Sajwani, Chairman of DAMAC Holding.

"The pleasures of working in an office tower that so perfectly complements the advantages of a self-contained development are many. But when the location itself offers an ample range of facilities, working becomes a true delight. The Corner is a perfect commercial eco-system. For those who enjoy being in the midst of all the action, The Corner is the ideal location. An exclusive world of boutique retail space on the ground level also adds to the zest of the environment. The project will have a beautiful and serene landscape and parking at 4 levels," said Peter Riddoch, CEO, DAMAC Properties.

Furthermore, Mr. Riddoch stated that, "The tower has swipe access, Hi-speed internet, business lounge, reception desk and 24-hr security and security cameras. A well-designed workplace with a comfortable indoor environment leads to a workforce that is not only healthy and happy but also more productive. Innovative state-of-the-art facilities are the tools that directly increase productivity".

DAMAC Holding has now grown into a global conglomerate with more than 7000 employees in 18 countries. Being the first private sector company to make a commitment to Dubai's real estate market, DAMAC Properties has become the market leader with a strong sales record to its credit.

Furthermore, DAMAC recently launched yet another luxurious masterpiece - 'The Signature Series'. This will be the most expensive penthouse in the Middle East. Each penthouse will be upwards of Euro 8 million. This private world of select apartments is just one each on floors 67 to 75, in 'Ocean Heights', the 82-storey award-winning marvel in Dubai Marina and 'Lotus Heights' in the bustling Business Bay. HBA (Hersh Bedner Associates), a leader in hospitality interior designing worldwide has lent its expertise to the unique interiors of these Signature Residences.

Furthermore, DAMAC Properties recently won three prestigious awards at the CNBC Arabian Property Awards 2006. Property developer bagged the best development award for 'Oceanscape', best architecture award for 'Ocean Heights 2' and the best website award for the company's website - www.damacproperties.com.  In December 2006, the company also won the IREF ME award for the best residential development in the UAE. 

-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 developers in Dubai and the Middle East, and is expanding rapidly into North Africa, Jordan, Lebanon, Qatar and the Far East. The company's portfolio of 52 towers is worth over AED15 billion. 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 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.

Client 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