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Commenting on the announcement, Peter Riddoch, CEO of Damac Properties, said:
"Damac is fully committed to complete its projects on schedule and we are taking every possible action to ensure that we overcome the challenge i.e. shortage of contracts and the increasing cost of construction. Today's announcement takes us one step further towards the completion of these projects and is a proof towards out commitment on delivery."
The Corner and Water's Edge are commercial properties located in Business Bay and offer state-of-the-art office spaces, exquisite retail and recreational facilities. The Corner is a 19 storey towers, while Water's Edge is a 20 storey building. The towers provide facilities like swipe access, hi-speed internet, business lounge, reception desk and 24-hr security with security cameras.
Riddoch continued "We have a total of eleven projects in Business Bay and all our projects have been accepted extremely well by the industry. Looking at the excellent appreciation of Business Bay both as a preferred location and value, we are glad that Damac is part of the customer's success by providing great properties and returns on investment."
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.
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Posted by Anne-Birte Stensgaard, Senior News Editor
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