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Wed 27 Jan 2010 12:15 PM

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Damac sees handover of at least six projects in 2010

Company chairman says he has 'high hopes and expectations' for year ahead.

Damac sees handover of at least six projects in 2010
PROJECT HANDOVER: Damac said on Wednesday that it expects to deliver at least six projects in 2010.

Damac Properties said on Wednesday that it would hand over at least six projects to customers in 2010.

Among those to be handed over are two phases of the company’s Emirates Gardens development and Tuscan Residences at Jumeirah Village South, Lago Vista at IMPZ, XL Tower and Business Tower at Business Bay and Smart Heights at TECOM, the company said in a statement.

Damac said in total more than 3,000 new units would be delivered this year.

Hussain Sajwani, chairman of Damac Properties, said that 2010 would be a "significant year for the company".

“This will be an exciting year for us as we conclude a number of our projects in Dubai. This shows that the decisions we have made and the priorities we have focused on during 2009 have paid off for our customers who can now look forward to taking delivery of their units," he added.

He praised contractors who had worked with Damac "during these tough times" to ensure that the company could meet its obligations to customers.

The developer also said it expects its flagship 84-storey project, Ocean Heights, in to be completed by the end of the year.

"We have very high hopes and expectations for 2010 and are firmly focused now on looking ahead - leaving the last year and all its difficulties behind us. We know that there will of course still be tough challenges in the market place but we feel that we have very clear goals in sight and we will be doing our utmost to meet those targets," said Sajwani.

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expathog 10 years ago

interesting announcement .Are these handovers all Damac are due to do this year or were they scheduled to do more ; the article does not mention it?I am sure the contractors that Damac praise will be suitably well treated when it comes to final accounts !It seems that Damac are keeping everyone happy .

Toby James 10 years ago

But he’s got high hopes, he’s got high hopes He’s got high apple pie, in the sky hopes

Barsha Khan 10 years ago

It would do great justice if Mr. Sajwani were to comment on Damac's off plan projects, or is it that more courage is needed for such comments? There are so many investors suffering from this silence, the fate of lifetime savings hangs on it, on projects that should have started by now and nearing completion, but none of this has happened.