Cairo, 13 May, 2009: Luxury lifestyle provider DAMAC Properties has issued a new tender for a main contractor to build 76 villas in its New Cairo's project "Hyde Park". As part of its commitment to customers, DAMAC Properties had stressed to potential contracting companies' their strict commitment to construction deadlines.

Hyde Park was launched in December 2007 covering 4.7 million m2. Bassenian Lagoni Architects have designed Hyde Park's villas along the theme of "Italian-Country, California-Spanish and Neo-classical".

It is a residential project consisting of the most exclusive villa development with unique design and architecture. The Grading works have been tendered and work has commenced on site. Arabian Company is the Grading contractor and DAMAC Properties has also recently signed a contract with "ECG" consulting company to handle supervision and design. DAMAC will start delivering the first units of Hyde Park by the end of 2011.

In keeping with DAMAC Properties' promise to provide clients with a healthy environment, 60% of the project's area will feature green spaces where Hyde Park residents will enjoy more than 1 million m2 of charming natural landscape in addition to a walking and running track exceeding 7 km long.

In all its projects, DAMAC Properties work closely with contracting companies that operate according to the highest international building and construction standards. Nine major Egyptian contracting companies have joined the bidding and DAMAC will choose the best tender according to quality and accuracy, including commitment to the projects' standards and characteristics.

Mr. Alaa Ayoub, President of DAMAC Properties Egypt said ''We promised our clients luxury in all our projects, and the issuing of this tender is a major step in the construction process. We have set early May as the deadline for receiving tenders. Bidding results will be announced in mid May and the winning company will start project operations before the end of May''.

"This step expresses our company's commitment to the implementation of our project and fulfilling promises that we gave to our clients. On our part, we look forward to starting work in this uniquely-designed project", Ayoub added.

DAMAC Properties targets implementation of numerous luxury projects in Egypt and is considered one of the premium Arab and Gulf companies that have major investments in the Egyptian real estate sector.

-Ends- 

About DAMAC Properties
DAMAC Properties, part of DAMAC Holdings was established in 2002, as a private residential, leisure and commercial developer in Dubai and the Middle East. Since then DAMAC Properties has expanded rapidly into North Africa, Jordan, Lebanon, Qatar, Saudi Arabia and the Far East.

2008 was the 'Year of Construction' at DAMAC Properties, during which it aggressively focused on construction and contract delivery to trusted and quality contractors. In line with this, DAMAC Properties handed over 2300 homes to customers and is expected to hand over approximately a further 7,100 units in 2009/10 across the GCC region.

In 2009 the company aims to build on this progress with a focus on timely completion and delivery. In 2008 more than 18million man hours were worked across DAMAC Properties' major sites in Dubai and currently the company has almost 18,500 units under construction across the GCC region.

The company has a diverse range of expertise that allows them to have a good oversight and management of all aspects of a project right from the acquisition of land, appointment of architects and designers, construction and sales to after sales service.

The company's projects are located in the most desirable and exclusive locations and homes are built to a high quality specification that has become synonymous with the group. DAMAC Properties aims to develop projects that include residential, commercial and leisure facilities that will create an integrated community.

In addition to support services provided by the Dubai headquarters, the company's comprehensive Customer Care Program provides solutions through its vast network with offices in the UAE, Jordan, Lebanon, UK, Egypt, KSA and Qatar.

For further information, please refer to www.damacproperties.com

For more information please contact:
Niall McLoughlin,
Senior Vice President - Corporate Communications,
DAMAC.
Tel: +971 4 04 3732190
Fax: 00 9714 3732335
Mobile +971 50 6531824.
emaiI: niall.mcloughlin@damacgroup.com 

For further information, please refer to www.damacproperties.com

For more information please contact:
Ahmad Ibrahim
MANAGER
CORPORATE COMMUNICATIONS 
DAMAC Properties Co. LLC
P.O.Box:2195, Dubai, United Arab Emirates
Direct: +971 4 373 2194
Fax: +971 4 373 2336
Mobile: +971 50 450 4757
E-mail: ahmad.ibrahim@damacgroup.com
www.damacproperties.com

Menna Abdelwahab
Corporate communications Manager
DAMAC Properties Egypt - S.A.E.
177 Orouba Street
Tel: +202 24149474 ext: 1104
Fax: +202 24149540
E-mail: menna.wahab@damacgroup.com
www.damacproperties.com 

© Press Release 2009