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6th May 2013

DAMAC Properties has launched six real estate projects in 2013 in Dubai and Saudi Arabia, with investors, responded positively to their innovative approach. Damac shows a knack for partnering with world renowned brands that investors identify with, ensuring the projects are located in exclusive and most desirable locations.

DAMAC Esclusiva Luxury Serviced Apartments and DAMAC Residenze

On 10 February 2013, Damac launched two exclusive residential projects in partnership with internationally renowned design brand FENDI Casa. The projects DAMAC Esclusiva Luxury Serviced Apartments and DAMAC Residenze are going to be built in Riyadh, KSA, and Dubai, UAE respectively.

FENDI Casa will be providing Italian-style interior decoration for serviced apartments and private apartments in both projects. All units will be fitted with the latest FENDI Casa furnishing. Residents can enjoy all modern life amenities like gym, spa, restaurants, and cafes constructed within towers. The state of the art projects are under construction and will be completed in 2016. Like all other projects, DAMAC Residenze is ideally located in the most desirable location of Dubai Marina which views Palm Jumeirah.

DAMAC Towers by Paramount

This mega project was officially announced on 6 March 2013, in partnership with Paramount Pictures. DAMAC towers will consist of four multi-level plazas that will rise 250m into the sky, located in Downtown Dubai. Developers have decided to utilize one tower as 540-key Paramount Hotel & Residence, while the remaining three will comprise 1,400 units of co-branded serviced hotel rooms of DAMAC Mansion-Paramount. Construction is in progress and it is due to completed in 2015.

DAMAC Towers by Paramount’ in KSA

After the successful launch of its first project with Paramount Film Production, DAMAC Properties announced to launch the US$1 billion Phase Two of DAMAC Towers by Paramount in Saudi Arabia, in roadshows across the country in April 2013. DAMAC has already been approved by Real Estate Regulatory Authority and Dubai Tourism and Commerce Marketing, and full payments have been made for land plots for this project. Development will consist of one, two and three-bedroom serviced hotel residences, which are managed by DAMAC Maison, the hospitality division of DAMAC Properties.

Lincoln Park, Brand New Serviced Apartments by DAMAC

Lincoln Park is another luxuriant project launched by DAMAC on 10 April 2013. It is located on Umm Suqeim Road in the center of Dubai. The project is located in close proximity with Miracle Garden and just 10 minutes away from Mall of the Emirates and Sheikh Zayed Road. Unit price started from AED 449,000. The project is expected to complete by the end of this year. The development consists of one, two and three bedroom units designed according to Chicago-style architecture, distinctively designed and decorated front entrance and terraces, flat roofs with parapet walls.

Akoya by DAMAC

On 30 April 2013, DAMAC Properties announced its biggest real estate project in Dubai, which is ideally located in Dubailand on Umm Sequim Road in Dubai. The development will spread over 28 million square feet. Upon its completion, Akoya will be the most luxuriant Golf Community in Asia that will offer premium mansions, villas, townhouses and deluxe apartment units. 18-hole PGA Championship Golf Course, an opulent spa, boutique hotels and international schooling from kindergarten to secondary level are also the part of this project. DAMAC has purchased land for the project and also completed essential paperwork to start this project.

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