UAE-Founded DAMAC International Announces Aggressive APAC Expansion Plan with Latest Office Openings in Singapore and Beijing
Dubai, United Arab Emirates, May 6th, 2024: UAE-founded real estate developer with global aspirations, DAMAC International, has announced brand-new office openings in Beijing and Singapore. With its sights firmly set on global expansion, the office openings signal the brand’s push and significant investment and commitment to APAC. As UAE’s largest private real estate developer with headquarters in Dubai since 1982, DAMAC has grown exponentially to an impressive diverse portfolio, including luxury real estate developments, hospitality experiences, data centres, retail, fashion, and capital markets. In December 2023, DAMAC announced plans to enter the Chinese market with its entry into Shanghai, capitalising on the growing demand for the UAE and DAMAC’s portfolio from Chinese HNWI and UHNWI investors.
The official ribbon cutting and event in Singapore was conducted by H.E. Jamal Abdulla AlSuwaidi, Ambassador of The United Arab Emirates to the Republic of Singapore, Dr Brian Shegar, President, UAE Singapore Business Council, Mr Mohamed Al Zarooni, UAE Head of Economic Affairs and Media, Singapore, and Hany Kotat, VP, International Sales, DAMAC International. The launch event included CEOs and Heads of the top brokerage firms in Singapore, including Propex, Huttons, ERA, Orange Tee and Tie and SRI.
Abbas Sajwani, Board Member, DAMAC International, commented: “Since 2002, DAMAC International has been synonymous with redefining luxury. We are excited as we expand our footprint further into APAC with our recent office openings in Beijing and Singapore. With excellence in our DNA, today we create products of the highest international standards. Across APAC, we see discerning, seasoned, high-value individuals who are looking to buy premium and quality developments for investments and as a home alike. We look forward to working with our partners in bringing DAMAC’s acclaimed global portfolio to APAC markets.”
Today, DAMAC’s total portfolio comprises over 75+ towers, multiple branded residences, large communities, hotels and hotel apartments across 12 global cities such as Dubai, London, Toronto and Riyadh. Some of the globally acclaimed projects include DAMAC Tower Nine Elms London, Europe's first Versace-branded luxury residence tower, Safa Two by de GRISOGONO, overlooking the iconic Dubai Canal, Canal Crown by de GRISOGONO, Mediterranean lifestyle inspired DAMAC Lagoons- UAE’s first pre-certified LEED Platinum community. A range of upcoming projects include Zaha Hadid Architects designed condo in Miami and a luxury resort in partnership with Mandarin Oriental in Maldives that is set to redefine the standards of luxury hospitality.
Anson Tay, Managing Partner, SRI: “Dubai’s property market and the city continue to be attractive for investors and residents from Singapore and across APAC. Dubai’s leading developers know and understand luxury craftsmanship in real estate developments well. DAMAC is one example that has delivered on promises with a whole range of luxury developments and investment opportunities.”
Michael Long, CEO, Senturion Real Estate: “A TrendLens report in 2023 from luxury consulting firm Agility revealed that more than 20% of Chinese millionaires were planning to visit the Middle East in 2024 with consumers having accumulated capital to invest in international real estate. Dubai and the UAE offer high yields, safety, speed, stability and an opportunity to own true luxury and quality with a developer like DAMAC.”
The DAMAC Office in Singapore is located at Asia Square Tower 1, Marina View, Marina Bay, Singapore, 11th Floor, Unit 06.
The DAMAC Office in Beijing is located at East Tower, No.1 East Middle 3rd Road, Beijing, 4th Floor, Unit 03.
The Shanghai DAMAC Office Address is located at 3 Corporate Avenue 168 Hubin Road, Huangpu District, Shanghai, 25th Floor, Units 2510-2511.
A significant number of agent partnerships are in place to manage demand within both markets.
