DAMAC Properties - a luxury lifestyle provider and the Middle East's largest private sector master developer, is hosting “The Real Estate Market” marketing campaign on Aug. 27 in Riyadh, Jeddah and Dammam to showcase its various projects in state-of-the-art facilities. The campaign will target Saudi investors with special prices and offers for the DAMAC residential and commercial units. “The Real Estate Market - Souq Al-Akarat - aims to identify potential investors interested in the luxury and indulgent lifestyle at the same time benefiting from special offers and investment opportunities on hand with high returns available,” said Ziad El Chaar, international general manager, DAMAC Properties. “The real estate market in Saudi Arabia makes up approximately SR55 billion an approximate 9.5 percent of the non-oil GDP. The real estate industry in Saudi Arabia is expected to continue its growth by the end of the 8th Development Plan by the end of 2009 especially with the governmental emphasis on residential housing provisions. The main objective of the development places a lot of emphasis on housing provision and increasing the residential ownership of the citizens. Approximately SR10 billion has been allocated from the surplus within the national budget … to increase overall investments and increase demand on local real estate,” he added. The real estate market is expected to witness an increase from 5.8 percent to 7.2 percent within the GDP during the coming 10 years. El Chaar said “the campaign offers lucrative opportunities for the potential investors to own luxury properties in Kingdom of Saudi Arabia, Dubai and Cairo that have been designed with the discerning Saudi investors in mind.” DAMAC Properties presents a new understanding for luxury residential real estate in the Saudi market, with its unparalleled standards of architectural detailing and interior design that are the hallmark of DAMAC properties everywhere. DAMAC Holdings has now grown into a global conglomerate with more than 7000 employees in 18 countries. Being one of the first private sector companies to make a commitment to Dubai's real estate market, DAMAC Properties has become the market leader with a strong sales record to its credit. __
