Ground breaking ceremony for 'The Buildings by Daman' held at DIFC

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About The Buildings by Daman at The DIFC
The Buildings by Daman at the DIFC precinct is a 62 floor mixed use residential and commercial complex 213 meters high. Encompassing 1.6 million square feet of built up area surrounded by sculpture gardens and waterfeatures, the complex includes freehold apartments, offices, a luxury hotel and retail space. The company had acquired a 220,000-square feet plot of land for this project in an open tender process during 2004. Expected project completion date is mid-2008.

The Buildings by Daman project will generate value out of the unique vision of the DIFC as a world-class financial centre, which has already attracted top financial institutions from around the world. Many more are expected in the near future and this is anticipated to result in a steady increase in demand for office, residential retail and leisure real estate within the DIFC. The downtown location and plans for a metro station in DIFC that will be operational by 2009 are the additional features that are expected to add value to the project.

Perkins and Will, world renowned architectural firm responsible for the Design Architect for the project, has already completed the detailed design.

ABOUT DAMAN
Formed in mid 2000 by a group of prominent UAE investors to cater to the growing need for in-depth, professional financial services tailored to the Arab World region. Daman's grass roots understanding of the fast changing dynamics of the region have made the group a specialist operating in this space.

Daman has grown into a group encompassing the full spectrum of non-bank financial services known for providing international standard quality services as well as innovative investment and asset management options.

Daman today is a diverse and dynamic operation which includes a dedicated brokerage arm (Daman Securities LLC) as well as divisions offering advisory services, real estate, private equity and venture capital development.