Tuesday, May 29, 2007

Damac's first project in Saudi launched

Damac Properties, the Dubai based real estate developer, has unveiled its first project 'Al Jawharah' in Jeddah.

Situated at Jeddah Corniche, near the Red Sea, the project Al Jawharah, is a residential tower of forty storeys comprising of landscaped surroundings, guest lodge, reception area, double height lobby, penthouses and other apartments and multilevel car parking facilities. All rooms comprise aluminium double-gazed windows, skirting for dining and living rooms, premium marble floors, maid’s room and utility room. Spread across two floors is a wide array of other facilities such as separate swimming pools for men and women, jogging track around the podium, health club and a wonderful sauna.

The Damac Chairman, Hussain Sajwani, has mentioned that Damac aims to be the most admired among luxury property services market in the world, by the year 2012. He added, "Saudi Arabia will be an integral component of our expansion strategy and also part of the global vision".

Peter Riddoch, Damac CEO, stated "This is just the beginning, our ambitious plan for Saudi Arabia includes a number of real estate ventures that we plan to unveil within the near future. Saudi Arabia is an important market for us."

Apart from Saudi Arabia, Damac is currently following up projects in Qatar, Jordan, Egypt, and Lebanon, and plans to consider projects in India, Pakistan, Tunisia, Morocco, Turkey and Oman.

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