DAMAC Announces Aggressive APAC Expansion Plan

The leading property developer announces brand new office openings in Beijing and Singapore

UAE-founded real estate developer with global aspirations, DAMAC Properties, has announced brand-new office openings in Beijing and Singapore. With its sights firmly set on global expansion, the office openings signal the brand’s push and significant investment and commitment to APAC. As the UAE’s largest private real estate developer with headquarters in Dubai since 1982, DAMAC has grown exponentially to an impressive diverse portfolio, including luxury real estate developments, hospitality experiences, data centres, retail, fashion, and capital markets. In December 2023, DAMAC announced plans to enter the Chinese market with its entry into Shanghai, capitalising on the growing demand for the UAE and DAMAC’s portfolio from Chinese HNWI and UHNWI investors.

APAC Expansion

• Sights on global expansion for DAMAC Properties as appetite for DAMAC’s luxury portfolio grows even further amongst investors in Asia Pacific (APAC) and other global markets, including across the US and Europe
• DAMAC Properties previously announced its Shanghai office opening in December 2023 in APAC

The official ribbon cutting and event in Singapore was conducted by H.E. Jamal Abdulla AlSuwaidi, Ambassador of The United Arab Emirates to the Republic of Singapore, Dr Brian Shegar, President, UAE Singapore Business Council, Mr Mohamed Al Zarooni, UAE Head of Economic Affairs and Media, Singapore, and Hany Kotat, VP, International Sales, DAMAC Properties. The launch event included CEOs and Heads of the top brokerage firms in Singapore, including Propex, Huttons, ERA, Orange Tee and Tie and SRI.

“Across APAC, we see discerning, seasoned, high-value individuals who are looking to buy premium and quality developments for investments and as a home alike. We look forward to working with our partners in bringing DAMAC’s acclaimed global portfolio to APAC markets.”

Abbas Sajwani, Board Member, DAMAC Properties

Anson Tay, Managing Partner, SRI, “Dubai’s property market and the city continue to be attractive for investors and residents from Singapore and across APAC. Dubai’s leading developers know and understand luxury craftsmanship in real estate developments well. DAMAC is one example that has delivered on promises with a whole range of luxury developments and investment opportunities.”

Abbas Sajwani, Board Member, DAMAC Properties, commented, “We are excited as we expand our footprint further into APAC with our recent office openings in Beijing and Singapore. With excellence in our DNA, today we create products of the highest international standards. Across APAC, we see discerning, seasoned, high-value individuals who are looking to buy premium and quality developments for investments and as a home alike. We look forward to working with our partners in bringing DAMAC’s acclaimed global portfolio to APAC markets.”

Michael Long, CEO, Senturion Real Estate said, “A TrendLens report in 2023 from luxury consulting firm Agility revealed that more than 20% of Chinese millionaires were planning to visit the Middle East in 2024 with consumers having accumulated capital to invest in international real estate. Dubai and the UAE offer high yields, safety, speed, stability and an opportunity to own true luxury and quality with a developer like DAMAC.” 

A significant number of agent partnerships are in place to manage demand within both markets.