Damac UK adds Lanka to its portfolio

To examine the existing potential for development of business in this part of the world Charlie King, Country Manager U.K. Operations for Damac Properties (UK) Limited visited Colombo recently.

He was accompanied by Suki Mann, Property Consultant for Damac Properties in London and other team members.

Damac Properties (UK) Limited has tied up with Hot Property Real Estate in Sri Lanka which will be promoting their business interests locally. The company also publishes a very descriptive and attractive magazine - “Hot Property Sri Lanka.” Speaking at a media briefing Charlie King said: “We are very impressed with what we have seen so far and feel that the climate is excellent for us to create a platform for people with a common interest to meet and share views.”

He added: “This will help our client base become aware of what is available in Sri Lanka and create avenues so they could celebrate all that is good in Sri Lankan design.”

Damac Properties is part of Damac Holdings. The company is one of the most successful residential, leisure and commercial developers in Dubai and the Middle East, and is expanding rapidly in to North Africa, Jordan, Lebanon, Qatar, Saudi Arabia and the Far East.

The company’s portfolio includes properties spread across 420 million square feet and is worth in excess of US$ 5 billion.

By partnering with world renowned architects and designers, Damac Properties aims to develop schemes that include residential, commercial and leisure facilities that will create an integrated community.

The company’s schemes are located in the most desirable and exclusive locations and the homes are built to a high quality specification that has become synonymous with the group.

The company’s comprehensive Customer Care Program provides solutions through its vast regional network with offices in the UK (London, Manchester, Reading, Leicester, Birmingham and Glasgow), Ireland, Italy, UAE, Iran, Russia, Jordan, Lebanon, Egypt, KSA and Qatar with Sri Lanka being the most recent addition. Interestingly, Charlie King noted that 43% of real estate sold in the U.K. has been in Dubai, with some of these investors being Sri Lankans living in the U.K.

The parent company, Damac Holdings established in 1982 has grown over the years into a multi-billion dollar corporation which is one of the largest in the Middle East.