June 26, 2010


DAMAC Properties – a leading private residential, leisure and commercial developer in the region has announced the launch of DAMAC TOWER, a magnificent and exclusive new high-rise building set to open its doors in 2013 located in down town Beirut.

DAMAC has tied up with VERSACE, the world-renowned Italian fashion house synonymous with glamour and luxury to provide exclusive interior design by VERSACE HOME.

“DAMAC TOWER” - a high rise luxury tower will feature spacious private units resplendent with custom designed interiors. All the common areas including the health and fitness facilities, the concierge reception, and the main lobby will feature VERSACE HOME products.

Commenting on the partnership, a first of its kind for the Middle East, Chairman of DAMAC Properties Hussain Sajwani said he believed it was the shared vision of the two companies that would combine to deliver the most prestigious and sought-after property in Beirut.

‘As a company that has already established a reputation for building luxury properties in desirable locations in the UAE, this exclusive tie-in is a natural progression for DAMAC Properties,’ explained Mr Sajwani.

‘We will be working with Versace to combine our considerable expertise and talent to create a state of the art property that will provide a unique and exclusive opportunity for investors in Beirut.

‘It is part of our ethos to look for ways in which we can develop and expand the DAMAC Properties portfolio – and of course partnering with such a well known and respected brand is further testament to our commitment to be known and viewed as the world’s leading luxury private property developer,’ he added.

In 2009, DAMAC joined forces with VERSACE HOME to launch the company’s first retail outlet in the UAE at The Dubai Mall – the Emirate’s largest shopping mall.

Santo Versace, President of Versace S.p.A. said: ‘We are very excited to be working with DAMAC Properties to create what will become one of Beirut’s premiere addresses. Our knowledge combined with the developer’s vision will result in a project unlike any other.”

He continued: “After creating private luxury interiors for our other exclusive resorts, such as The Thomson Penthouse in Shanghai in 2009, we are happy to supply an interior design project for this luxurious real estate project that will result in a beautiful one of a kind building in Beirut.”

Mr Sajwani concluded: ‘For DAMAC Properties, with our proven track record already full of notable achievements and accolades, we look forward to using our considerable strength and skill in entering the real estate market in Lebanon.

‘We are always looking at new locations where we feel that our experience combined with the product that we have to offer will provide the right opportunity for the right market at the right time.

‘We feel the time is now right for the launch of this high-end and bespoke product to a market which continues to show signs of buoyancy and recovery. Beirut is a city that is well known for its cosmopolitan flair in the Middle East and we feel that the DAMAC TOWER will be a great addition to this chic and sophisticated city.

‘Beyond that we are also excited at the prospect of bringing our luxury lifestyle proposition to the Lebanese market and we feel confident that its appeal will be far reaching in this region and beyond.’