DAMAC appoints enabling works contractor for its projects in Jordan

The duration of this preliminary work is approximately 120 days and includes site preparation, excavation and shoring works. Enabling work on this project began on June 6th, 2007.

These projects form part of the Abdali master planned development, which in itself is claimed to be the most prestigious mixed use environment in Jordan and a strategic development point in the heart of the Capital.

"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.

"Today, we are delighted to have appointed M/s. Issa Haddadin & Partners Co. for the enabling works, thereby opening a new chapter in our project life cycle. DAMAC's projects in Amman will be created with highest construction standards offering the latest in services and living standards. 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," said Peter Riddoch, CEO, DAMAC Properties.

Representing one of the main entrances for the new urbanization of the Abdali district, this stage will be followed by the main works package of the towers and annexes, and will include works on 4 plots numbered 5B1, 5B2, 5B3 and 5B4.

The company's latest project, 'Business Gate', is an 8 storey commercial tower and was launched after its first commercial tower 'Business Heights', a 20 storey tower to be constructed also in Jordan's Abdali master planned development. The company was the first to launch a commercial tower in the Abdali area, and it was also the first to introduce a residential project with the launch of 'The Heights', a 35 story tower in the same location.

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.