New corporate identity for Damac Properties marks significant step forward

'Wish fulfilment' extends the equity that Damac Properties has built behind the current luxury positioning, while depicting luxury in a more unique context.

An international customer research programme assessed that Damac has perceived strengths in luxurious developments, high quality construction and great places to live. 'Wish fulfilment' not only recommits to Damac's core strengths but it also stakes out a luxury based position that is differentiating.

The new brand promise for the organisation elevates the brand from being about luxury to being driven by a higher purpose - to enable the aspirational luxury dream. The new corporate identity mirrors a new vision for Damac Properties and is designed to reflect a new age in the history of the developer and the global property industry.

The new Damac wordmark and identity symbolise reflective luxury -- a symbol of Damac reflecting the desires and wishes of its customers. The stylised alphabets create a distinct look while the forward tilt of the alphabets symbolises the operational, enterprising and advancing capabilities of Damac.

Speaking about the new identity, Hussain Sajwani, Chairman of Damac Holding, said:

"Damac Properties embarked on a journey in 2002, and today we are one of the largest private property developers in the region. The Damac Properties brand enjoys a premium over our competitors due to the luxury and quality we offer. Our goal is to become the world leader in the global luxury segment. Luxury has played an inevitable role in our business and it is imperative that we strengthen our offering further. Today, many competitors offer luxury as a feature. In order to distinguish and sustain our competitive edge over others, we have introduced our new brand promise that focuses on the benefits of luxury, and at the same time fulfilling the wishes of our customers."

He added: "Our aim is to turn our customers' wishes into reality and help facilitate their aspirations. We aspire to further strengthen this emotional relationship between the brand, its employees, its stakeholders and its customers."

Commenting on the new brand, Peter Riddoch, CEO of Damac Properties, said:

"We at Damac Properties are expanding aggressively into new markets and are growing at a very fast pace. We are associated with luxurious high quality construction and unique properties. Our new corporate identity is a significant step forward and the beginning of a new journey which will lead us to the top."

"A company's corporate identity is 20% visual and 80% behavioural. Today, we are also introducing our 4 new core values for our organisation: enterprising, responsiveness, tenacity and premium. We believe in living these core values as it will be very important for us to deliver our brand promise. This will be evident in all our projects, right from its inception to delivery," added Peter Riddoch.

2008 has been a year of delivery for Damac with the hand over of 572 units in Lake Terrace in May, Executive Heights next month and Lake View and the Crescent later this year. In total they will deliver over 2300 units in 2008, followed by an additional 7100 units in 2009/10.

Damac Properties is rolling out the new identity globally and is hosting employee and media events across the Middle East and Europe.

The company's website will go live with the new brand identity on September 1st.

Today, Damac Properties has over 670 million square feet of luxury under development, in 8 counties with over 18,000 customers from 120 nationalities. Damac Properties has expanded into Malaysia and Erbill with the announcement of new projects earlier this year.