DAMAC opens regional headquarters in Canary Wharf, London (UK/UAE)

DAMAC Properties announces the opening of its UK and Ireland regional headquarters in Canary Wharf in February 2008. The launch marks the first of a series of several new offices that will open in key locations across the UK and Ireland this year. The move strengthens the company's commitment to selling its luxury developments in the Middle East and Africa to investors and overseas homebuyers based in the UK and Ireland. Located on the nineteenth floor of a gleaming new tower on Bank Street, the office was carefully selected to reflect the luxury brand that has become synonymous with DAMAC Properties.

Mr. Hussain Sajwani, Chairman of DAMAC Holding, comments: "UK is a very important market for DAMAC, over 28% of our sales are from UK. The opening new of this regional headquarters in Canary Wharf shows our commitment to UK and beyond. The new regional headquarters will cater to the region.

He further added, "We already have offices in Manchester, Birmingham, Glasgow and Mayfair. The Canary Wharf office is the latest edition to our office network in the UK and we will be opening offices in Leicester, Leeds and Southampton by Spring 2008."

Mr. Peter Riddoch, CEO of DAMAC Properties, adds: "The new regional headquarters comes inline with DAMAC's regional expansion programme for Ireland and the UK. 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."

Riddoch continues: "As London continues to develop business and tourism ties with Dubai, our opening in Canary Wharf could not come at a better time. Emirates Airlines 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 home owners 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 is even built. Our customers are so confident in their purchase that up to 99% have never been to Dubai, or seen their property."

Dubai is tax haven and one of very few places in the region that have introduced freehold property laws for foreign investors. Property prices start from as little as

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