Designation: Managing Director
Since its establishment in 2002, Damac has been a name to be reckoned with in Dubai’s luxury real estate segment. The company delivered more than 3,500 units during 2014. To date, it has completed 12,866 units.
Last year, Damac worked across eight projects. In the UAE, it completed Capital Bay, Executive Bay, The Cosmopolitan, Water’s Edge, Maison The Vogue, Lincoln Park, and partially completed Lakeside.
2014 also saw the firm’s first international development in the form of Saudi Arabia’s Al Jawharah. Damac’s managing director, Ziad El Chaar, has been with the company for almost a decade, and is confident that he and his colleagues will continue to grow in line with the region.
Commenting on the current drivers behind Damac’s business, he said: “With tourism growing and the UAE infrastructure investment at an all-time high, there is a real incentive for international buyers, and the market remains strong.”