DAMAC Properties strengthens presence within the Jordanian market

This latest project, 'Business Gate', an 8 storey commercial tower was launched after its first commercial tower 'Business Heights', a 20 storey tower to be constructed in Jordan's Abdali master planned development.

With the Business heights project, DAMAC became the first real-estate company to launch commercial tower in the Abdali area. DAMAC was also the first to introduce residential projects within that area with the launch of 'The Heights', a 35 storey tower at last year.

"We are confident about the Jordan market as our existing projects, 'The Heights', 'The Lofts', 'The Courtyard', 'Business Heights' and 'Business Gate' received a tremendous response. With our wealth of global expertise, we are confident that our valued customers will enjoy the best facilities the industry has ever seen, and we are sure that these good tidings will serve as a source of inspiration for us to invest more heavily in Jordan's vibrant real-estate arena," said Mr. Hussain Sajwani, Chairman of DAMAC Holding.-Continued-

"Our presence in Abdali stems from our belief in the extremely vibrant and dynamic master plan that is due to become a true hub for business and tourism for many nationalities throughout the region and beyond. Our ambitious plan for Jordan includes a number of real estate ventures that we plan to unveil in the near future,"

said Mr. Peter Riddoch, CEO, DAMAC Properties.

DAMAC's 'The Heights' and 'The Lofts,' were completely sold out in record time, with the former selling out within just two months since its launch. "At this stage we are very happy with what we have achieved so far in Jordan, and we feel that this market still has a lot more to offer us in the future," added Mr. Riddoch.

Furthermore, DAMAC Properties recently launched yet another luxurious masterpiece - 'The Signature Series' in Dubai. This will be the most expensive penthouse in the Middle East. Each penthouse will be upwards of JD12 million. This private world of select apartments is just one each on floors 67 to 75, in 'Ocean Heights', the 82-storey award-winning marvel in Dubai Marina and 'Lotus Heights' in the bustling Business Bay. HBA (Hersh Bedner Associates), a leader in hospitality interior designing worldwide has lent its expertise to the unique interiors of these Signature Residences.

DAMAC Properties recently won three prestigious awards at the CNBC Arabian Property Awards 2006. The 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 Properties is part of DAMAC Holding. DAMAC Holding has now grown into a global conglomerate with more than 7000 employees in 18 countries.