Dubai, UAE, 26th January, 2008: DAMAC Properties - the luxury lifestyle provider and the region's leading private sector master developer has added another exclusive product to their ever growing portfolio of luxury offerings.  Amber Residence in Dubai Residential City, located in Dubai World Central takes the number of DAMAC properties under development to over 80 projects.

Dubai World Central is a massive, multi-phase development centered on the world's largest international airport. A 140 square kilometer city, almost twice the size of Hong Kong Island, it is the world's first truly integrated logistics platform, with all transport modes, logistics and value added services, in a Free Zone environment. This self-sustaining development, once complete will be a new city where about 750,000 people will live and work.

Speaking at the launch, Hussain Sajwani, Chairman of DAMAC Properties, said: "Amber Residence is a modern architectural design offering the finest residential and retail lifestyle.  It is designed to offer true value for money with interiors that have been tastefully designed and every detail breathing comfort.

One will have easy access to everything.  With 110 nationalities from across the globe who bought properties from DAMAC. Amber Residence is yet another unique offering which will perfectly enhance the DAMAC portfolio."

Peter Riddoch, CEO, DAMAC Properties, said, "Amber Residence is perfectly located in a self-sustaining development, at Jebel Ali, once completed it will be a new city where about 750,000 people will live and work. Undoubtedly making it the most strategically important development launched until today."

Amber Residence is tastefully designed and offers high levels of comfort.  Within the residence, the tenants will enjoy exclusive leisure and fitness facilities.  An unmatched asset and experience for the homeowner with a distinctive lifestyle that offers unparalleled opportunities from designer boutiques to fine dining restaurants.

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.

DAMAC Properties recently won two prestigious awards at the CNBC Arabian Property Awards 2007. The leading property developer bagged the 'Best High Rise Development Award' for its project 'La Residence at the Lotus' as also the 'Best Website' Award for www.damacproperties.com. Last year, the company had won the IREF ME award for the best residential development in the UAE.

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About DAMAC Properties
DAMAC Properties is part of DAMAC Holdings. DAMAC properties was established in 1995 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, Saudi Arabia and the Far East.

The company's portfolio includes properties spread across 500 million square feet and is worth in excess of US$30 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 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, Reading, Leicester, Birmingham and Glasgow), Ireland, Italy, UAE, Iran, Russia, Jordan, Lebanon, Egypt, KSA and Qatar.

The parent company, DAMAC Holdings, 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 more information please contact:
Niall McLoughlin,
Senior Vice President - Corporate Communications,
DAMAC
Tel: +971 4 3322005 Ex 336 
Fax: 00 9714 3311028
Mobile +971 50 6251329
emaiI: niall.mcloughlin@damacgroup.com

Maroun Hannoush
Senior Manager 
DAMAC Properties
Tel: 00 9714 3322001 
Fax: 00 9714 3311028 
Mobile +971 50 5592494
email: maroun.hannoush@damacgroup.com 

Ashutosh Gupta
BPG Public Relations
M: +97150 2834339 
email: ashutosh@batespangulf.com.

© Press Release 2008