DAMAC International Limited, today announced the appointment of Richard Choi as its London-based Senior Vice President of Business Development in its effort to accelerate expansion opportunities in the UK and Europe.
DAMAC is exploring further investment opportunities following the success of its AYKON London One residential tower, a Versace-branded luxury development in Nine Elms which has already presold over 45 per cent.
“DAMAC International Limited has enjoyed phenomenal growth by selectively choosing expansion markets that have helped position it as a major regional and international property developer,” said Hussain Sajwani, Chairman of DAMAC. “The success of our AYKON London One development in Nine Elms clearly indicates the company’s ability to deliver the right product to the right market, and Choi’s appointment further extends our reach into the UK and Europe moving forward. We are pleased to have him onboard.”
Choi brings over 22 years of global investment banking and real estate expertise. Based in London since 2000, Choi has been focused on real estate investments and developments across the European, US and Latin American markets, and has overseen in excess of US$ 40 billion in transactions.
Choi will be joining the DAMAC International executive team to spearhead expansion opportunities in the UK as well as in gateway cities across Europe, building on the success of its 50-storey AYKON London One development that is set to become one of London’s most prestigious addresses and the first in Europe to be designed in partnership with Versace Home.
Last week, DAMAC was chosen by the Government of Oman to redevelop its Port Sultan Qaboos in Muscat, a historic USD 1 billion master development project which will see the port transformed into an integrated tourist port and lifestyle destination that includes hotels, residences, as well as a dining, retail and leisure offering.
DAMAC has delivered more than 18,500 homes and has over 44,000 units in various stages of development. The company’s footprint extends across the Middle East with major projects in the UAE, Saudi Arabia, Qatar, Jordan, Lebanon, United Kingdom and Oman.