Pakistan's PIPEX exhibition honors DAMAC Properties with 1st Excellence Award

"We were honored by the vote of confidence that we received during this year's PIPEX exhibition through our "1st Excellence Award", said Peter Riddoch, Chief Executive Officer at DAMAC Properties.

"The subcontinent in general and Pakistan in particular are areas where we are seriously considering the launch of a number of very exciting real estate projects in the future", he added.

During the duration of the exhibion, the property company received a substantial number of inquires by potential customers that are looking to buy properties in the UAE, either to reside or as an investment.

"After meeting with our sales consultants, Pakistanis visiting the DAMAC Properties stand were quite pleased with the substantial rental and investment returns that could potentially be generated through buying into DAMAC Properties developments", commented Riddoch.

DAMAC recently unveiled an exquisite project in Lebanon, "la Residence by Ivana Trump", a US $150 Million real estate venture in the world-renowned Beirut City Center. In Jordan the property company introduced a $120 Million real estate venture within the world-acclaimed Abdali area of Amman.

DAMAC Properties also launched a $3.5 Billion exquisite mixed-use project within Trumpet Bay region located in the Tanggu District, Tianjin, People's Republic of china, as well as a $400 Million 14-building spectacular real estate venture within Lusail's Fox Hills community in Doha.

Last year, the property company was honored with three prestigious Bentley International Awards 2005 in the categories of Best UAE Development for Marina Terrace, Best Architecture for Ocean Heights and Best Developer Website (www.damacproperties.com) at a ceremony in London on 4 November 2005.

The Bentley International Property Awards, now entering their 11th year, have been described as the 'Oscars' of the property industry. The aim of the awards is to distinguish the highest levels of achievement in a range of property-related fields. Categories cover a wide range of property and real estate related activities and services, including Development, Interior Design, Architecture, Property, Advertising, Marketing, and Estate Agency Services.

The total value of DAMAC Properties' projects is over $4 Billion. It is a subsidiary of the DAMAC Holding established in 1982. An accredited ISO 9002 company, DAMAC Holding has now grown into a global conglomerate with more than 6000 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.