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Old July 12th, 2006, 01:09 PM   #81
Naz UK
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A Launch a day, helps you work rest and play.
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Old July 12th, 2006, 01:18 PM   #82
thedubailife
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Must have been hard for you to not post for a week, Why don't you get a new name like Damac critic or i don't do damac
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Old July 12th, 2006, 01:46 PM   #83
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Quote:
Originally Posted by malec
DAMAC Holding has now grown into a global conglomerate with more than 5000 employees in 16 countries.

Our Jaguar promotion is aimed at always adding value to the customer.
Yes, but 4999 of them are architects trying to work out how on Earth they can build Ocean Heights.
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Old July 12th, 2006, 02:01 PM   #84
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Quote:
Originally Posted by Dubai_Steve
Yes, but 4999 of them are architects trying to work out how on Earth they can build Ocean Heights.
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Old July 13th, 2006, 05:34 AM   #85
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Damac to build housing complex in Amman

Dubai: Real estate developer Damac Properties yesterday announced a $120 million project in the Abdali area of the Jordanian capital Amman.

The 35-storey tower, named The Heights, will be built at the entrance to the Abdali development. It will have studio, one, two and three-bedroom apartments and penthouses.

Peter Riddoch, chief executive of Damac Properties, said the project will be the first of many Jordan development.
It follows the company's expansion into Lebanon, Qatar and China.

"Our launch in Abdali stems from our belief in the extremely vibrant and dynamic master plan that is due to become a true hub for business and tourism for many nationalities throughout the region and beyond," said Riddoch.

"Our highly ambitious plan for Jordan includes a number of real estate ventures that we plan to unveil within the coming few years."
Damac Properties, a subsidiary of Damac Holding, recently launched La Residence, a $150 million real estate venture in Beirut, Lebanon.
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Old July 13th, 2006, 05:35 AM   #86
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What's with Damac and the word "Heights"
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Old July 13th, 2006, 10:18 PM   #87
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Quote:
Originally Posted by lovedubai
Yawn, Naz on Damac again and again and again zzzzzzz.........
Well, I would start on pr**ks like you, but Krazy gets angry! Besides, i'm not the only one if you can be arsed to read the thread!

BTW, here's some real zzzzzzzzzzzZZZZZZZZZ inducing stuff...

Relative values
by Tamara Walid
itpbusiness.net

Life is relative,” he insists with a smile. “There’s always one customer who would expect gold bars.”
Hussein Sajwani is no stranger to gold bars, or to brickbats. Chairman of Damac Holding Co. LLC, his office high above Sheikh Zayed Road offers him a fine view of a city his company has helped build. Today, Damac Properties - part of Damac Holding - is the largest privately held property firm in the Middle East.

Yet with this success has come criticism of the construction quality of some Damac projects. Sajwani is naturally defensive, and encourages people to come, take a look at the buildings, compare them to neighbouring buildings, and then make a judgment.

“The customer paid a certain amount of money and he wants, with all due respect, the top German kitchen costing AED200,000,” he explains. “I cannot provide him with that because we sold him a certain quality, which he’s getting, and better. We also upgrade the buildings quite often and give much more than what was promised in the brochure.”
The media also plays a role, Sajwani insists, in the perception of Damac properties’ build quality.

“They have to make their money and sometimes writing a controversial story that people might read is part of the
media. [The newspapers] have to bring in the stories and they have to pick on something small, then they make it big so that they can look big,” he grumbles.

“It could be political, social, could be a crime in the city, but they could put it in a way, a flashy way, so that everybody will talk about it and buy the newspaper. But that’s part of the business. It’s fine,” he adds, with an admirable attempt
at conviction.

Sajwani has come a long way in a relatively short time. His career began in the gas industry with Abu Dhabi Gas Industries Ltd. (GASCO), yet after just two years with the associate and non-associate processors he decided to fly solo and establish his own business in Abu Dhabi. Damac Holding was born.

“We are investors, property, industries, manufacturing, insurance and brokers,” he says proudly. “Damac Invest is one of our biggest companies as far as investment goes. It has more than US$1 billion in assets and invests in different countries throughout the Middle East in publicly and privately held companies.”

In May this year, Damac Properties launched its first development outside Dubai, when it revealed five new tower developments in Abu Dhabi. So far, it has sold more than 5000 different units and developments, including 1.5 million square feet of offices, and has 52 commercial and residential buildings in different parts of the region.

For Sajwani, though, his very first project will always be special. “Like children, the first child always has its own love because it was the first one and for me Marina Terrace was my first developed property,” he smiles. “Maybe there’s an emotional tie there because I was involved in all its
details. That project will always remain close to my heart.”
Next on the agenda is the launch of 14 buildings in Doha. “It’s a US$275 million project and it has about 600 apartments, and residential buildings with shops, cafes and restaurants. It’s called the Piazza, and is in an Italian style. We have a piazza in the middle and buildings around that,” says Sajwani.

Lebanon is currently on Damac’s ever-expanding radar, after the firm unveiled a US$150 million project last month. The development, La Residence by Ivana Trump, is a 35-storey tower in front of the Phoenicia Hotel at the prime intersection of Omar Daouk and Fakhreddine streets.

It offers two and three-bedroom apartments, penthouses with private pools on the roof as well as shops, cafes, restaurants and other retailing departments. Ivana Trump, ex-wife of the American billionaire Donald Trump, and herself an award-winning international entrepreneur in fields as diverse as the hotel and casino business to fashion and writing, has greatly contributed to the project’s design.

Sajwani believes the Lebanon project will be a winner. “Lebanon is one of the unique countries in the region. It has a lot of tourism, very good location and a lot of potential.

“Many of our customers from the GCC like to buy a luxury property in Lebanon and we think our product is going to be the most luxurious,” he says.

Sajwani also asserts that a certain number of the Lebanese elite, living in Lebanon as well as in Europe or the Americas, like to own a “very luxurious” residence in their hometown. He praises the location of the multi-million-dollar project and describes the building as “outstanding”, both in terms of its interior and exterior. As the company plans to grow in the region and develop in new territories, its next target is Jordan, where it will launch a new project later this summer.
Sajwani is convinced that the property market in the Middle East is still maturing, however, demand is strong. This, he says, can be largely attributed to the market’s boom over the last four years. “We never had proper property companies in the Middle East until the 1990s,” Sajwani says.

He goes on to explain that all previous attempts in the region - from Oman to Morocco - were what he terms a “moment pop”: when an individual purchases a piece of land, builds on it, and then sells five to 20 apartments or otherwise rents them. Solidere was the first, before Emaar, though Sajwani believes the latter played a crucial role.

“Emaar raised the benchmark and put a different thinking in property, which is very much the American or European way of doing things where you have a proper company with proper management, marketing, sales, and development teams,” he says. “Naturally, the market is at its beginning. Yes, Dubai has a lot of projects being developed but other parts of the Middle East have almost nothing and are just yet developing. There’s a lot of room to grow.”

There are also a number of challenges in the property market, according to Sajwani. One is that the investment climate has changed markedly. In the past it was easier for buyers to speculate as they purchased apartments and often made 50-100% profit on their money in eight weeks. “That time is over,” Sajwani says. He believes it is possible for people to make profits of 20-40% nowadays, but that they should realise that property is a long-term investment that requires patience and buying quality products in strategic locations from a “quality developer”. “Those people will make money,” Sajwani says. “People who end up buying any product, from anybody, cannot make money. They are going to lose money.”

Sajwani is pretty certain where much of his money is coming from. “Today you have 300 million Europeans and a certain percentage of them like to live outside of Europe, especially people who have reached 50 years and above, who are semi-retired and wealthy, have their own businesses, and don’t mind living four to five months a year in Dubai,” he explains. “We have better weather, a better lifestyle, and they save a lot of money on taxes. A lot of our buyers are of that type of people.”

He adds that out of the population of a billion Indians, at least five to 10 million are wealthy enough to own a house or property outside of their country. With Europe being very expensive, and thus unaffordable to many, Dubai is a natural alternative.

Sajwani insists that, with the existing five-star hotel rates in Dubai, it is now much cheaper for regular visitors to the emirate to buy an apartment. “There is a great deal of travelling in the world now and most wealthy people take three to four holidays a year,” Sajwani points out. “Buying an apartment in Dubai is becoming an investment in a holiday resort.”

Dubai is also a hub for business, trading, and investment. “This will continue the influx of people,” he says. “Look at the airport. When they spoke about 15 million people, we thought they were mad. Look at how they’re doing today - about 30 million. When you have this high growth driven by the outsiders, the property market will definitely grow.”

Sajwani is not worried in the wake of the region’s recent stock market crash. He remarks that any market in the world, after witnessing growth of 120% over a year, would have to undergo a correction. He points out that shares were over-valued in 2005, and now they are properly valued in the wake of the market correction.

Instead, he claims that his greatest challenge is that of keeping his management team, which he claims is one of the best in the region, at a certain level of performance whilst bringing in more professionals of the same calibre. He believes the region is going through difficult times in terms of resources, as the overseas supply of talent is drying out.
“Our talent used to come from the Indian subcontinent, the Middle East and Europe,” Sajwani says. “Solutions are changing. Firstly, unfortunately, most of the Middle Eastern countries have not developed at the speed of UAE or GCC countries. So now the manpower, which we bring in from other Middle Eastern countries, is not generally of as high a quality.
“After all, business here has become very sophisticated and very competitive,” he concedes. “Secondly, a lot of those countries - like Egypt - are themselves developing and growing so there’s an opportunity inside those countries, and so you cannot bring their quality people here.”

India, Sajwani says, is a completely different story. Today the salary scale for talented staff in India is twice as big as the UAE, especially when it comes to senior figures in finance, marketing and other such professions.

According to Sajwani, this shift represents the greatest challenge, as India has been for a long time the biggest pool of manpower. The pool is drying out, and highly qualified individuals are rapidly becoming more expensive. Attracting people from Europe, Sajwani believes, is largely impossible as it has become almost prohibitively expensive.

The solution, Sajwani concludes, is to train his own staff. “We have just established our own in-house training department and now we’re going to establish our own college or university to train our people more. We spent a lot of money on training and development to achieve this target,” he says.
Looking to the future, Sajwani is aiming for the top. He hopes to see Damac become a major international property player, and intends to pursue development opportunities in over ten countries. The focus will be largely on high-end customers, reaffirming Damac’s claim to being ‘Luxury Lifestyle Providers’.

“Today we have 5000 customers and I would like to see 50,000,” he says. “To be honest, I never thought we would become as big as we have done. But now that we are here, we must continue to grow – that’s the most exciting part.”
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Last edited by Naz UK; July 13th, 2006 at 10:26 PM.
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Old July 13th, 2006, 11:55 PM   #88
malec
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For **** sake, nothing but crap being posted. Seems as now I'm a mod I can get rid of it

And btw, that article is really ZZZZZZzzzzzz

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Old July 14th, 2006, 12:04 AM   #89
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LOL. Told you so!
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Old July 15th, 2006, 04:12 AM   #90
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"Our Jaguar promotion is aimed at always adding value to the customer."

[IMG]http://i1.************/1zzgmlk.jpg[/IMG]
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Old July 15th, 2006, 02:10 PM   #91
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Jaguar have had an abismal sales performance in most of the western world, consistently under-achieving sales targets, so it gives me great confidence that Damac are giving away a car with their apartments that Jaguar themselves couldn't even give away free in the showrooms!
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Old July 16th, 2006, 07:27 PM   #92
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Lebanon, real estate fears

Some property experts believe that the current crisis in Lebanon could have a hugely damaging effect on the country's real estate industry, reported Gulf News. A number of the UAE's leading property firms have recently pumped money into Lebanon, including Damac Properties, just last month, with its $150m La Residence by Ivana Trump. Israel's decision to severely damage Lebanon's transport infrastructure could make investors think twice before making commitments.

http://www.ameinfo.com/91419.html
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Old July 21st, 2006, 11:46 AM   #93
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i do not know if some one is interested in this, however i cannot keep it inside me anymore

is Damac ever going to finish the top on Marina Terrace???
the last pic i saw still had a hole in the roof. or is this the latest version of open plan living ?

also

when i saw the pic of apartments in the Marina Terrace i nearly cryed (i said nearly as i honestly cannot be bothered to cry over something so disguisting)

the Kitchen units ?? sorry, did i miss on some kind of designer revolution? is this the new ultra modern luxury? we had the same kitchen fitted as students in 1996 in a run down place in hamburg/ germany.

why would some one install this kitchen into a great modern looking building as Marina Terrace?

or bathroom in the same property ?? goodness! my mum has no sence for a design, however when she was fitting her bathroom in the 90s, she did faaarr better then Damac crew!

ps: obviously this is my opinion & i am not expected anyone to agree with me

btw- wanted to post this onto the marina terrace thread but could not find it
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Old July 21st, 2006, 12:22 PM   #94
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Marina Terrace is supposed to be completed (with no roof???). The thread was in the "completed" section, but has disappeared now!
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Old July 21st, 2006, 12:41 PM   #95
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The roof will remain open like that., the tower is considered completed.
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Old July 21st, 2006, 12:42 PM   #96
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naz -
marina terrace has roof indeed, however in the middle of the roof, just above the penthouses, there is like empty,a hole? - glas missing.
the last pic i saw were from March 06, may be all completed by now

(sorry hard to explain what i mean by ?hole in the roof? + i am too lazy to post a pic here - pls see Damac website construction development, you can see on those pics what i mean)

have asked Imre to take latest pic on this marina terrace to see what is going on, i think he will take them next Fri
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Old July 21st, 2006, 12:44 PM   #97
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altin D -

i heard this many times that aparently the roof will remain as it is...

wtf

was this confirmed by Damac?
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Old August 9th, 2006, 03:11 AM   #98
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Latest sales promo from damac.. 30% rental returns guaranteed for 3 years
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Old August 9th, 2006, 11:36 AM   #99
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It's 10% per Year for 3 years and it's on all Damac projects form what i see.

But i don't think thats like a superb great offer 8% is normal and most people think that was low.

Less promotions and more building might be an idea
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Old August 9th, 2006, 02:35 PM   #100
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yes but i 10% of the over over priced damac apartments makes u wonder how they would manage.. for example renting a 1 bedroom apartment in marina for Dhs 120K for three years? there's gotta be a catch in there somewhere
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