Smart Heights Tower takes shape for DAMAC Properties at TECOM

Company Brief

India, November 05, 2008

Luxury lifestyle provider DAMAC Properties Dubai continues to make progress at its TECOM projects with its Smart Heights tower reaching the sixth floor – the first full office floor above ground level. Smart Heights which will eventually have 21 floors of futurist office space has now completed its five floor podium structure which will house car parking and also a swimming pool and health club. The tower is one of two that DAMAC Properties Dubai has at TECOM – with construction at its nearby Executive Heights building already completed and 192 units in the process of being handed over.

Smart Heights will offer 288,000sq ft of office space and will incorporate the latest technology, connectivity and security including smart card controlled access. In addition the building will have a fully automated business lounge and board room. The project is due for completion next autumn. Chief Executive of DAMAC Properties Dubai, Peter Riddoch said the technology on offer at Smart Heights would make it a pleasure to do business there.A lot of thought and consideration went into the technology and specification for Smart Heights and we believe it will offer excellent corporate facilities at the heart of this rapidly expanding vibrant business community,’ he said.‘However we have combined these state of the art business facilities with the chance for employees to make the most of their working day by installing a health club and swimming pool on site.’

Progress at the Smart Heights tower is typical of the strides being made by DAMAC Properties Dubai across all of its developments. 2008 has also been the ‘Year of Construction’ at DAMAC Properties, during which its businesses have aggressively focused on construction and contract delivery to trusted and quality contractors.

An impressive AED2.5billion worth of contracts have been awarded in the first nine months of 2008. From initial consultants through to enabling and main contractors, the company has awarded more than 60 contracts in the first nine months of the year – showing that it means business when it comes to delivery. So far approximately AED2.1billion worth of contracts have been awarded for projects in Dubai, AED45million for projects in Abu Dhabi and a total of AED320million by DAMAC International for projects in Qatar and Jordan.

In line with this, DAMAC Properties Dubai, is making good progress at its major developments in Dubai and has recently handed over 571 units at Lake Terrace in Jumeirah Lake Towers and with the promise of delivery of 192 units at the Executive Heights project at TECOM, 198 units in its Tera Del Sol developments in Discovery Gardens, 536 units at LakeView in Jumeirah Lake Towers and 847 units at The Crescent, located at IMPZ, all before the end of 2008.

Mr. Riddoch added: ‘We believe that we can no better show our commitment to progress than through continued momentum and everyone senses that the momentum is with us at the moment. We are focused and determined to strike the right balance between progress on our existing projects and looking ahead to the future. ‘We look forward to continuing in this vein in 2009 because sustained progress typical of the level we are making at Smart Heights, will be the way that we fully meet our commitments - and truly deliver on our promise of wishes fulfilled for our customers.’

For further information, please contact:

Corporate Voice | Weber Shandwick

Mudit Jagati

E-mail: muditj@corvoshandwick.co.in

Mobile: 919891208370