We are extremely fortunate to have witnessed the transformation of the UAE into one of the most prosperous nations on earth. We are also proud to have rapidly grown alongside our nation.
The UAE, our home country, has long cemented itself as a global hub for business and innovation, with world-class infrastructure and an open, diverse community of cultures and religions. All this undoubtedly makes Dubai an inclusive home for global talent and an attractive market for international investors. This is why, in spite of delivering a record 4,100+ units in 2018, the highest number we’ve ever handed over in any calendar year, we believe that our work has only just begun.
We expect this year to be full of opportunities for end users, investors and developers seeking to expand their land bank. Real estate is a cyclical business and the market is poised to benefit from an upturn. We also envisage an improvement in the global economic backdrop and believe that the UAE’s Expo 2020, which is now just around the corner, is the catalyst needed to revitalise the local economy and drive the market into the next cycle of growth.
Which is why, on behalf of DAMAC, I would like express my deepest gratitude to the visionary rulers of the UAE. It is due to their progressive vision and endless efforts that we have the necessary foundation for success, and are extremely fortunate to have witnessed the transformation of the UAE into one of the most prosperous nations on earth.
We are also proud to have rapidly grown alongside our nation. Today, through a lot of hard work, we have seized every opportunity to transform DAMAC from its modest beginnings into a fully-fledged master developer, delivering well over 24,000 units across the region. We also continue to challenge the industry by bringing to life dream homes and differentiated living concepts. None of that would have been possible without the development of the most important element: communities. Communities foster in us a sense of belonging, and the communities we build reinforce to our customers, whether they are investors or the tenants of our investors, that when they walk into their DAMAC property, they have come home.
For that, we thank our very own community of employees, partners and shareholders who share our vision of creating the differentiated living experiences. Our ability to be one of the most competitive companies in the region, and beyond, is only possible because of you and your commitment.