DAMAC Awarded ‘Property Developer of the Year’ in 2019 International Business Magazine Awards



Dubai, United Arab Emirates, 19 September 2019, (AETOSWire): DAMAC Properties, a leading luxury real estate developer in the region, has been recently awarded the ‘Property Developer of the Year UAE 2019’ at the International Business Magazine Awards.

The International Business Magazine Awards was designed and developed to recognise exceptional work globally and across industry sectors. The judging panel, comprised of experienced professionals and industry experts, have selected the winners after in-depth analysis and performance assessments. The year started strong for DAMAC with deliveries of 1,500 units in the first half, and over AED 480 million worth of contracts awarded. Along with the handovers at Ghalia, its first Sharia-compliant development, DAMAC also initiated handovers for the Claret cluster at AKOYA. In 2018, DAMAC delivered a record 4,100 units, and are looking to beat that record this year.

“Congratulations to the entire DAMAC team, our agents, and all those who have been instrumental to our continued success. Our customer-centric and innovative approach to real estate is the foundation of our growth story. I am confident that this recognition will further fuel the enthusiasm of the entire group as we head into the future,” said Niall McLoughlin, Senior Vice President, DAMAC Properties.

Trishna Das, the Chief Editor of International Business Magazine, commented: “There is no stopping this juggernaut of real estate in the UAE, as DAMAC Properties is becoming the very heart and soul of luxury living in the UAE. Branching out to the rest of the whole, prospective buyers and real estate investors can now experience first-hand the dazzling splendour of properties like AKOYA in their own states.”

While this is the first IBM Award for DAMAC, the company has won various other accolades for their innovative real-estate projects, leadership, marketing, and best practices. Last year, the brand took home the ‘Best New Project’ award for Just Cavalli Villas at the Property Finder Real Estate Awards 2018, ‘Residential Project of the Year' - DAMAC Towers by Paramount Hotels & Resorts by Construction Week Awards 2018 and the MEED Projects Awards 2018 for ‘Residential Project of the Year’ – Bay’s Edge.

DAMAC Properties, Kavitha Menon, Corporate Communications, Kavitha.Menon@damacgroup.com

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