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FINANCIAL NEWS
Damac to set up luxury tower at Dubai Maritime City
24 Mar 2013
(MENAFN) Damac Properties managing director, Ziad El Chaar, stated that the company has purchased a land on the seafront at Dubai Maritime City to set up a serviced hotel-residences tower, reported Arabian Business.
El Chaar said that the Dubai-based company’s luxury project will be located on one of the most exclusive plots in the whole development, which would attract huge demand.
He added that the project will raise the number of Damac’s developed buildings to 104.
The real estate developer has finished 37 buildings in the Middle East, with additional 66 at different stages of progress across the MENA region.
It is worth noting that at the current time, the firm is also developing the luxury Damac Esclusiva, a serviced hotel apartment tower in the center of Riyadh, and the private apartment project, Damac Residenze, in Dubai Marina.
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