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14 May 2024
UAE real estate developer DAMAC Properties has recently declared the opening of new offices in both Beijing and Singapore. This move is a clear indication of the brand's determination to expand globally and showcases its significant investments and dedication towards the APAC region.
Since its establishment in Dubai in 1982, DAMAC has become the largest private real estate developer in the UAE real estate sector. Over the years, it has expanded its portfolio to include luxury properties, hospitality ventures, data centres, retail spaces, fashion brands, and capital market investments. In December 2023, DAMAC made a strategic move to enter the Chinese market by launching its presence in Shanghai. This decision was fuelled by the increasing interest and demand from high net worth and ultra-high net worth individuals in China for the UAE and DAMAC's offerings.
H.E Jamal Abdulla AlSuwaidi, the Ambassador of The United Arab Emirates to Singapore, along with Dr Brian Shegar, President of the UAE Singapore Business Council, Mr Mohamed Al Zarooni, Head of Economic Affairs and Media for UAE in Singapore, and Hany Kotat, VP of International Sales at DAMAC Properties, conducted the official ribbon cutting ceremony and event in Singapore. Among those in attendance were CEOs and Heads from top brokerage firms such as Propex, Huttons, ERA, Orange Tee and Tie, and SRI.
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Photo: Nick Fewings
Bringing the magic of UAE real estate to Beijing
For nearly two decades, DAMAC has been known for its luxury developments in the UAE real estate market, and they are now excited to have opened offices in Beijing and Singapore. With a commitment to excellence ingrained in their culture, DAMAC strives to create products that meet the highest international standards. In APAC, the surging demand from discerning individuals who seek out premium and high-quality properties for both investment and residential purposes has now wooed a titan of UAE real estate to the region. As a result, DAMAC are eager to collaborate with partners in bringing DAMAC's renowned global portfolio to APAC markets.
At present, DAMAC's expansive collection boasts more than seventy-five towers, various branded residences, large communities, and hotels or hotel apartments in twelve different international cities such as Dubai, London, Toronto, and Riyadh. Some of their most renowned projects include the luxurious DAMAC Tower Nine Elms London, which is the first Versace-branded residence tower in Europe; Safa Two by de GRISOGONO, overlooking Dubai's iconic Canal; Canal Crown by de GRISOGONO; and the Mediterranean-inspired DAMAC Lagoons - the UAE's first community to be pre-certified LEED Platinum. A few upcoming developments to look forward to are an architectural masterpiece designed by Zaha Hadid Architects in Miami and a lavish resort partnership with Mandarin Oriental in Maldives that is expected to set new standards for luxury hospitality.
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Singapore and other countries in APAC still find the UAE real estate market in general, and Dubai in particular, appealing for both investors and residents alike. The top developers in Dubai have a strong understanding of what it takes to create luxury properties, as proven by companies like DAMAC who consistently deliver on their promises through a variety of high-end developments and investment options.
DAMAC in Singapore
According to a 2023 report by Agility, a luxury consulting firm, over 20% of wealthy Chinese individuals had plans to travel to the Middle East in 2024. These consumers had acquired enough capital to invest in UAE real estate and were particularly interested in locations like Dubai and Abu Dhabi, due to their attractive returns, safety, efficiency, stability, and the opportunity to own luxurious properties developed by reputable companies such as DAMAC. For those based in Singapore, the DAMAC Office can be found at 11th Floor, Unit 06 of Asia Square Tower 1 on Marina Bay's scenic Marina View.
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Photo: Nostra Damot
DAMAC in Beijing
The Beijing DAMAC Office is situated on the fourth floor, Unit 03 of East Tower, No.1 East Middle 3rd Road. The Shanghai DAMAC Office can be found at Units 2510-2511 on the 25th floor of 3 Corporate Avenue, located at 168 Hubin Road in the Huangpu District. The company works closely with multiple agent partnerships to meet the high demand for their services in both the local and UAE real estate markets.
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