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SYMBOLIC PROJECTS AT CITYSCAPE DUBAI 2008

Wednesday, 01 Oct 2008

DAMAC properties shall be showcasing its vast array of iconic developments at the 2008 Cityscape Dubai, which is the world's largest business to business real estate development and investment event that shall be held at the prestigious Dubai International Exhibition centre from the date of October 6th until October 9th. Luxury lifestyle provider DAMAC shall be using this opportunity to also showcase its amazing property in Egypt, Jordan, Saudi Arabia, Qatar and Lebanon.

DAMAC Properties shall be featuring special daily promotional offers during the course of the Cityscape Dubai show, including its specials in other regions such as its property in Egypt and Qatar at stand Nº RN/10 inside the Sheikh Rashid Hall. CEO of DAMAC Properties, Mr Peter Riddoch, pointed out that, "We will display luxurious, elegantly designed, high quality properties spread across the Middle East and the Mediterranean region. As of today we have sold our properties to customers from over 110 countries across the globe and we are looking forward to further growing our global family through this show." This is encouraging news for anyone looking to purchase accommodation in Egypt, or property anywhere else in the featured regions.

Adding more encouragement to his statement, Mr Riddoch mentioned that even though there has been a sharp slowing down of the market globally, the UAE real estate market remained firm. Mortgage lending by the UAE Central Bank had increased by 55% in the past year, revealing that investment in property in Egypt, and the other Middle Eastern regions developed in by DAMAC, are a sound financial investment at this time.

2008 has been a year of construction for DAMAC Properties, delivering business and aggressively focused construction and contract delivery to a number of its developments around Dubai, such as the Tera Del Sol in Discovery Gardens, but not excluding their development of property in Egypt and its other portfolio regions. Approximately 7 100 units are planned for 2009/10 across the GCC region.