Damac to open sales offices in China

Damac held presentations in China that pointed out the favourable tax comparison between Dubai and other cities favoured by Chinese investors such as London, Los Angeles, Kuala Lumpur, Melbourne, Sydney and Singapore.

Damac, the developer based in Dubai, is to open three new offices in China to market its projects more effectively to Chinese buyers.

Damac is planning to open business development offices in Beijing, Shanghai and Shenzhen to work with local brokers to promote its products, said Ziad El Chaar, the company’s managing director.

Damac took the decision to open offices after its success in selling to Chinese buyers through two deals agreed with the Beijing broker 5i5j and Shenzhen-based Qfang.com last year. This was backed up by a series of roadshows promoting both Dubai and its own portfolio in the country.

“We’re going to have our own staff on the ground working with these real estate brokerages,” said Mr El Chaar.

Damac held presentations in China that pointed out the favourable tax comparison between Dubai and other cities favoured by Chinese investors such as London, Los Angeles, Kuala Lumpur, Melbourne, Sydney and Singapore.

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Photo gallery

New property projects at Cityscape Global 2016 in Dubai – in pictures

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Dubai’s tourism and cultural attractions and the number of international schools, hospitals and universities in the emirate are a big selling point among those looking for university places for children, or a suitable medical facility.

“Now they understand that there is a much closer option – a more family-orientated option – than having to cross to Vancouver, or to go to Manchester, or to London,” said Mr El Chaar.

A decision by China’s Communist Party to relax rules on family planning, allowing couples to have two children, has led to a baby boom in the country that has placed a strain on hospital maternity units, he said.

“So now many in China are now looking to send the wife and the mother at the fourth or fifth month to deliver outside in a proper hospital, and this is where we are coming in,” said Mr El Chaar.

Damac’s Chinese offices will each initially be staffed by two senior business development personnel, whose job will be to recruit sales staff from the local market, assess potential partnerships with other brokerages and moves into new cities.

The company will focus on the places where there are flights to Dubai, including Zhengzhou and Yinchuan.

Meanwhile, Damac on Tuesday announced the launch of the second phase of Akoya Imagine villas at Akoya Oxygen. The three-bedroom villas will have a starting price of Dh999,999.

mfahy@thenational.ae

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Published: September 6, 2016 04:00 AM

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