DAMAC Properties Announces 10 Projects with Combined Value in excess of AED 13 Billion so far in 2016

September 5, 2016

DAMAC Properties today announced it had launched ten major projects so far in 2016 with a combined value in excess of AED 13 billion. The announcement coincided with the first day of Cityscape Global 2016 taking place from 6 - 8 September at the Dubai World Trade Centre.

The new range of projects announced for the first half of 2016 comprised AYKON City hotel apartments and hotel rooms, AYKON City residential apartments, XV Villas at AKOYA by DAMAC, The Beach by Maison De Ville, Tower 108, AKOYA Cuatro Villas, AKOYA Imagine, AKOYA Imagine plots, and AKOYA Imagine 2.0.

Ziad El Chaar, Managing Director, DAMAC Properties, commented: “We are pleased to bring to market a further range of projects for discerning customers and investors looking for a choice of attractive and lucrative investment opportunities. With exclusive, luxury residential apartments in the most convenient and easily accessible locations, we offer premium quality combined with the assurance of strong financial returns.”

“As we continue to deliver outstanding projects, cementing our position as one of the Middle East’s leading real estate developers, we believe the market is set to deliver significant growth and opportunity in the near future. With an economy that constantly outperforms the region, Dubai continues to develop as one of most attractive locations for real estate investors in the world,” El Chaar continued.

According to the Dubai Land Department, the total amount of real estate transactions recorded in the Emirate in the first eight months of 2016 reached AED 158.541 billion, achieved through 38,838 sales. Moreover, the market now offers stronger yields and potential for greater capital growth in the run up to Expo 2020 Dubai.

DAMAC Properties’ robust and sustainable model enabled the company to maintain substantial confidence in its business, products, and ability to continue to outperform the market. With a diverse portfolio of masterplan developments, residential towers, hotels and hotel apartments in key locations, DAMAC Properties is expected to deliver 2,700-3,000 units in 2016.