DAMAC's 'The Crescent' rising at IMPZ

DAMAC is the first to launch a residential undertaking within the International Media Production Zone. The company's other two projects in IMPZ are Lago Vista and Lakeside. The project is slated to be completed by June 2008.

'The Crescent' will encompass a plethora of residential and leisure amenities. It includes 704-luxury studio, one, and two bedroom apartments with breathtaking views over a large man-made lake. The project offers a wide range of restaurants, as well as ample parking space for residents, a swimming pool, tennis court, squash court, gymnasium, 24 hours security and maintenance.

"The International Media Production Zone is due to become a highly dynamic media hub with an extensive number of residents. Our significant investment in IMPZ is a result of our belief in the project and the fact that it is due to develop into one of the leading residential undertakings in Dubai," said Hussain Sajwani, Chairman, DAMAC Group.

The International Media Production Zone (IMPZ), launched in July 2003 and is the first dedicated trade zone created in the region for media-related production activities. The new initiative provides a highly pro-business environment and a complete technology and community infrastructure to support and foster the growth of media production.

"Designed to suit many different discerning tastes, each apartment at The Crescent will be built according to the highest specifications and design using the best materials. We have worked very closely with New York based architectural firm, BM Design Group, and local consultant Al Gurg & Associates, to ensure that each apartment offers every modern amenity in a chic and homely setting," commented Mr. Peter Riddoch, CEO, DAMAC Properties.

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. 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.