Damac gets license to operate in Saudi Arabia
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Damac gets license to operate in Saudi Arabia

Damac gets license to operate in Saudi Arabia

Dubai's Damac Properties has become among the first to be granted an official license to develop and sell properties under Saudi Arabia's new real estate law, Saudi Gazette has reported. "Damac Properties has been certified under the new register of qualified real estate developers and has established escrow accounts for its off-plan sales," Ziad El Chaar, managing director of Damac Properties said. The developer is currently constructing Al Jawharah luxury residential tower on the Jeddah Corniche.

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    AMEinfo staff members report business news and views from across the Middle East and North Africa region, and analyse global events impacting the region today.

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