DAMAC opens state-of-the-art 'sales lounge' in Riyadh

The company currently has three sales offices in the country located in Jeddah and Dammam Khobar, in addition to Riyadh. By 2012, DAMAC Properties aims to be the most admired luxury property services company in the world.

Hussain Sajwani, Chairman, DAMAC Properties says:

"In line with the exponential growth and awareness of our property portfolio, we are now in a position to move to a large scale operation in more visible locations in cities across the country. Our world-class sales lounge in Riyadh is just an example of things to come. This will support us in our broader aspiration to offer our customers local support and property opportunities in other areas of the Middle East and the Mediterranean."

The announcement comes as a result of the company's plans to expand their operations in Saudi Arabia. In addition, DAMAC Properties is pursing projects in Egypt, Qatar, Jordan and Lebanon with future schemes being considered in Turkey, Oman, Morocco, Tunisia, India and Pakistan among other countries. These projects represent significant progress in the company's plans for targeted growth over the next few years.

Peter Riddoch, CEO, DAMAC Properties said, "Our valued customers will now have the opportunity to visit a local DAMAC Properties branch to enquire about their current and new properties for sale around the world. Customers can get a detailed insight into the specification, facilities and local amenities offered by the development of their choice. Our aim is to provide outstanding customer service and our agents are in the best position to provide objective advice on international property markets and guidance on the purchase process in various countries."

"KSA is a very important market for us and unlike any other developers in the UAE; we are showing commitment and confidence in the Kingdom of Saudi Arabia by establishing a strong local presence in a number of cities. Our ambitious plan for KSA includes a number of real estate ventures that we plan to unveil within the near future," concluded Peter Riddoch.

Furthermore, DAMAC Properties recently won three prestigious awards at the CNBC Arabian Property Awards 2006. Property developer bagged the best development award for 'Oceanscape', best architecture award for 'Ocean Heights 2' and the best website award for the company's website - www.damacproperties.com. In December 2006, the company also won the IREF ME award for the best residential development in the UAE.

DAMAC Holding has now grown into a global conglomerate with more than 7000 employees in 18 countries. Being the first private sector company to make a commitment to Dubai's real estate market, DAMAC Properties has become the market leader with a strong sales record to its credit.