Damac strengthens UK/Ireland presence
Damac Properties yesterday said it will open its United Kingdom and Ireland regional headquarters in Canary Wharf next month as part of a series of new offices in key locations scheduled to open this year.
The move strengthens the company’s commitment to selling its luxury developments in the Middle East and Africa to investors and overseas buyers based in the UK and Ireland, the developer said in a release. The Canary Wharf office is located on the nineteenth floor of a new tower on Bank Street, it said.
“It is a very important market for Damac. More than 28 per cent of our sales are from the UK. The opening of this regional headquarters shows our commitment to the UK and beyond,” said Damac Chairman Hussain Sajwani.
Damac has offices in Manchester, Birmingham, Glasgow and London and plans to open more in Leicester, Leeds and Southampton in 2008, Sajwani said.
Chief Executive Peter Riddoch added: “We want to be both accessible and geographically close to our clients and our new base in the UK’s leading financial and business district of Canary Wharf will meet these needs. As London continues to develop business and tourism ties with Dubai, our opening of a base in Canary Wharf could not come at a better time.
“Emirates flies direct to Dubai seven times a day from London Gatwick or Heathrow, providing a convenient link for overseas property investors, business travellers and holiday homeowners living in London.
“Our sales teams across the UK are helping people on a daily basis to own a property in Dubai. Some are looking for a family holiday home or a place to retire, some want a buy-to-let investment while others buy off-plan and ‘flip’ the property before it has even been built.
“Our customers are so confident in their purchase that up to 99 per cent have never been to Dubai, or seen their property.”
Dubai is a tax haven and one of very few places in the region that has introduced freehold property laws for foreign investors.
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