Two new properties launched and new sales office to cater to regional and international properties

UAE, Dubai, June 23rd, 2008: DAMAC Properties - the luxury lifestyle provider and Middle East's largest private sector master developer - has opened a new sales office in Qatar to meet the growing demand and tap into the unrivalled potential of Qatar's real estate sector. The new sales office is located in Qatar's capital city, Doha and will provide information on all properties by DAMAC. With the opening of the new office in Doha, DAMAC Properties now has 53 sales offices across 12 countries.

Commenting on the new office opening, Peter Riddoch, CEO, DAMAC Properties said. "Doha is Qatar's largest city and accommodates over 80% of the population. There is an increase in the demand for housing units, as the city has witnessed an increase at the rate of 8% annually over the last year. Close on heels with our successful projects in Qatar, we have recently launched Garden Heights and The Terrace at Fox Hills, both at the Lusail Development."

The Garden Heights is a 20 storey tower that encompasses 1, 2 &3 bedroom apartments and opulent penthouses. It has a futuristic architectural design and provides the finest residential space. On the other hand, The Terrace is the largest domestic development by DAMAC Properties. The Terrace provides an exotic and healthy ambience to live, work, shop, and relax. It comprises of 14 buildings of 4-storey's each and has a unique exterior with different colour schemes and materials.

Riddoch continued "The new sales office will be an ideal resource centre that will provide information on DAMAC's projects, master plans, details on the progress of different projects across all markets. It will serve as a one-stop destination in Doha that will meet and address the queries of prospective customers and business partners on various projects both regionally and internationally. This is another step forward by us to strengthen our presence and showcase our commitment to the Qatari market."

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. 

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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 670 million square feet and is worth in excess of US$45 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, luxury and determination to delivers homes to its customers as quickly as possible, the company is working closely with contractors and providing the necessary support mechanism to deliver quality and timely completion of projects. The company is taking every step towards safeguarding its customer's interest and will deliver 2300 units in 2008 and a further 7100 units by 2010.

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, 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 383 
Fax: 00 9714 3311028
Mobile +971 50 6251329
emaiI: niall.mcloughlin@damacgroup.com
Website: www.damacproperties.com 

Ahmad Ibrahim
Corporate Communications Manager
DAMAC Properties
Tel: 00 9714 3322641 
Fax: 00 9714 3311028
Email: ahmad.ibrahim@damacgroup.com

© Press Release 2008