Damac's Dhs1.5bn Ocean Heights tower reaches 14th floor

Notes and media contacts

About Damac Properties:

Damac Properties is part of Damac Holdings. Damac properties was established in 1995 and has grown into one of the most successful residential, leisure and commercial developers in Dubai and the Middle East, and is expanding rapidly into North Africa, Jordan, Lebanon, Qatar, Saudi Arabia and the Far East.

The company's portfolio includes properties spread across 670 million square feet and is worth in excess of $45bn. By partnering with world renowned architects and designers, Damac Properties aims to develop schemes that include residential, commercial and leisure facilities that will create an integrated community. The company's schemes are located in the most desirable and exclusive locations and the homes are built to a high quality specification that has become synonymous with the group.

Driven by a passion for excellence, luxury and determination to delivers homes to its customers as quickly as possible, the company is working closely with contractors and providing the necessary support mechanism to deliver quality and timely completion of projects. The company is taking every step towards safeguarding its customer's interest and will deliver 2300 units in 2008 and a further 7100 units by 2010.

Damac Properties manage all their projects from start to finish, the company's diverse range of expertise allows them to control land purchase activity, appointment of architects and designers, construction and sales and after sales service. In addition to support services provided by their Dubai headquarters, the company's comprehensive Customer Care Program provides solutions through its vast regional network with offices in the UK, Italy, UAE, Russia, Jordan, Lebanon, Egypt, KSA and Qatar.

Damac Properties were recently awarded five CNBC Arabian Property Awards for 2008. The accolades included awards for Best High-Rise Architecture for their Marina Bay Project in Abu Dhabi, Best Development for their Hyde Park project in Cairo, Egypt, Best Marina Development, also for Marina Bay in Abu Dhabi, Best Property Marketing awards for the Dubai Shopping Festival 2008 campaign and Best Developer Website for the third consecutive year.

The parent company, Damac Holdings, has grown over the years from a specialist catering company established in 1982, into a multi-billion dollar corporation to become one of the largest organizations in the Middle East.

For more information please contact:

Niall McLoughlin
Senior Vice President - Corporate Communications, Damac
Tel: 00 9714 3322005 Ext 383
Fax: 00 9714 3311028

Prem Ramachandran
Manager - Corporate Communications
Damac Properties
Tel: 00 9714 3322001
Fax: 00 9714 3311028

Padma Shivdasan Venu
Account Manager
BPG Public Relations
P.O. Box 3294 Dubai UAE
Tel: 00 9714 295 3456 Ext 316
Fax: 00 9714 295 1027