Dubai's Damac hires London exec to drive European expansion

Damac chairman says appointment aims to build on success of Aykon London One development
Hussain Sajwani, Damac's chairman
By Staff writer
Fri 14 Jul 2017 09:10 AM

Dubai-based developer Damac has announced the appointment of Richard Choi as its London-based senior vice president of business development in its effort to accelerate expansion opportunities in the UK and Europe.

Damac International Limited said in a statement that it is exploring further investment opportunities following the success of its Aykon London One residential tower, a Versace-branded luxury development in Nine Elms which has already presold over 45 percent.

“Damac International Limited has enjoyed phenomenal growth by selectively choosing expansion markets that have helped position it as a major regional and international property developer,” said Hussain Sajwani, chairman of Damac.  

“The success of our Aykon London One development in Nine Elms clearly indicates the company’s ability to deliver the right product to the right market, and Choi’s appointment further extends our reach into the UK and Europe moving forward. We are pleased to have him onboard.”

Based in London since 2000, Choi has been focused on real estate investments and developments across the European, US and Latin American markets, and has overseen in excess of $40 billion in transactions, the statement said.

It added that Choi will be joining the Damac International executive team to spearhead expansion opportunities in the UK as well as in gateway cities across Europe, building on the success of its 50-storey Aykon London One development.

Damac said it has delivered more than 18,500 homes and has over 44,000 units in various stages of development. The company’s footprint extends across the Middle East with major projects in the UAE, Saudi Arabia, Qatar, Jordan, Lebanon, United Kingdom and Oman.

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