DAMAC Properties Starts 2016 International Activities From Hong Kong

DAMAC Properties
2016-01-28 10:00 2838

DUBAI, UAE, Jan. 28, 2016 /PRNewswire/ --

Participation of the Dubai-based Real Estate Company in the "Dubai Property Show" to showcase managed real estate projects and golf course communities  

Luxury real estate developer DAMAC Properties announces its participation in the "Dubai Property Show" in Hong Kong that will be held between 28 and 30 January 2016 in the Hong Kong International Convention Centre - Hall 3G.

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The event is organized in association with the Dubai Land Department and is intended to showcase Dubai's premium real estate offering to potential investors from Hong Kong and the surrounding territories.

Niall McLoughlin, Senior Vice President - DAMAC Properties said: "DAMAC's participation in this important event falls within its strategy to bring attractive investment opportunities in the lucrative real estate sector of Dubai to customers wherever they are around the world. DAMAC participated in the successful Mumbai edition of the same event last year and is planning to be present with the Dubai Land Department at such highly regarded events bringing benefits to the real estate, tourism, travel, hospitality and several other related sectors."

McLoughlin added: "Hong Kong is one of the leading international financial centres, and it's characterized by low taxation and free trade, and the United Arab Emirates has an agreement with Hong Kong to avoid double taxation on income. Dubai has no taxation on revenues from rental yields and incomes generated from real estate transactions other than the regular registration fees, which constitute a major competitive offering taking into consideration the high return on investments from yields that reached over 7% last year."

DAMAC is showcasing its managed real estate portfolio of luxurious hotel apartments and hotel room investment schemes. These managed real estate products are highly appealing to Asian investors. In addition, DAMAC is showcasing its golf course communities with international standard golf courses surrounded by luxurious villas and apartments.

He concluded: "We at DAMAC believe in the strong and sustainable real estate market in Dubai that started to show signs of maturity in 2015 and we expect this trend to extend throughout 2016 and beyond where growth patterns should be within a single digit, a sign of a stable and promising market."

DAMAC Properties organized and participated in over 250 events across the globe in 2015 and is looking to maintain this high interactive initiatives rate throughout this year. The Dubai-based company is one of the largest luxury real estate developers in the Middle East region and the UK, with an enviable portfolio of projects across several countries. Having initially specialized in high-rise, luxury private apartment projects in the most sought-after locations in Dubai and London, the company is now developing major master plan developments, golf course communities, hotels and hotel apartments. DAMAC now works with some of the most recognizable names in the world of fashion and design, including developing a limited edition real estate collection with such companies including Versace, FENDI, Bugatti, Paramount Hotels & Resorts, Tiger Woods Design and others.

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Source: DAMAC Properties