Al Jawharah Tower on Jeddah Corniche set to become a landmark building

Jeddah, Kingdom of Saudi Arabia, October 3, 2012: DAMAC Properties, the Middle East's largest private, luxury developer, announced today that construction of the Al Jawharah DAMAC Residences Tower in Jeddah, Saudi Arabia, has reached the 28th floor.

DAMAC Properties, in its collaboration with Versace Home, has developed 'The DAMAC Residences' a distinguished interior design concept for the top ten floors of the project that will produce the most exclusive residential apartments in the Kingdom.

Work was recently completed on the Versace Home designed dedicated lobby to the DAMAC Residences. This reception area was designed to surpass the expectations of luxury to anyone visiting the building. At the entrance to the impressive double-height Grand Lobby, the Versace Medusa logo has been incorporated in the marble flooring to immediately convey a sense of grandeur and Italian luxury. The emerald marble has been continued from the floor into the walls, framing the mirrored panels, to create an illusionary, whimsical journey through the jewellery box. The tiny down-lights scattered across the ceiling, glisten and sparkle like polished diamonds.

"We recognise that interior design is one of the major reasons a customer chooses a particular apartment over another with similar specifications. Property investors are advised to consider interior design at the point of purchase, to ensure strong capital growth in the years to come," said Ziad El Chaar, Managing Director, DAMAC Properties.

"The name 'Al Jawharah' means 'the jewel' of the Red Sea in Arabic, and the concept for the interior design was to create the illusion of walking into a jewellery box, filled with precious gems," El Chaar commented. 

On reaching the milestone of constructing up to the 28th floor, El Chaar added: "The individuality of Versace Home comes from combining luxurious building materials with cutting-edge design, and this is evident in their commitment to the highest standards of elegance, professionalism and attention to detail for which the company is world known."

Apartments of one, two or three bedrooms homes are expected to be delivered by the last quarter of 2013. The DAMAC Residences project, with its limited release Versace Home designed interiors, is anticipated to be completed by the second quarter of 2014.

Upon completion, the 48-floor tower is expected to be a true architectural icon along the Jeddah Corniche. The sleek, modern tower will be an iconic landmark, with its clean lines and shifting, interlocking façade defining the unique design. The complexity of Al Jawharah's external façade creates reflective panels which disperse and refract light, creating an illusionary effect.

DAMAC Properties is considered to be one of the region's leading luxury real estate companies, with a track record of delivering luxury residential properties across the Middle East. DAMAC Properties is well established in Saudi Arabia, having been one of the first international developers to be granted a license, under the jurisdiction of the Kingdom's new real estate laws, to develop and sell properties.

The company's projects are located in the most desirable and exclusive locations and built to the highest quality specification that has become synonymous with the group. 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 KSA, the UAE, UK, Jordan, Lebanon, Egypt, Iraq and Qatar.

DAMAC Properties 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 and Saudi Arabia.

DAMAC Properties has completed 37 buildings to date with 7817 units and spanning 13,945,299 sq feet. DAMAC Properties also has a further 65 buildings at various stages of progress across the Middle East, North Africa region. These consist of 11,998 units spanning over 23,000,000.00 sq feet.

In June 2010, DAMAC Properties further reinforced its position as the regions premium developer with the launch of DAMAC Tower in Beirut, Lebanon. A 28 storey iconic tower, this project is in association with Italian design group, VERSACE, with all interiors being designed by Versace Home. This was followed by the DAMAC Residences with Interiors by Versace Home, launched in Jeddah, Saudi Arabia in June 2011.

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

In October 2011, DAMAC Properties launched their hospitality division called DAMAC Suites & Spa'' and will have 4000 hotel apartments under development by end 2013. This will position the company as one of the largest Hotel Apartment operators and developers in the region.

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, UK, Jordan, Iraq, Lebanon, Egypt, KSA and Qatar.

Further information is available at 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 │ emaiI: niall.mcloughlin@damacgroup.com

© Press Release 2012