Real Estate

Following the success of AKOYA by DAMAC launched last year, DAMAC Properties announced today the introduction of a second master development in Dubailand, set to be the largest in the area.

AKOYA Oxygen, spread over 55 million sq ft, will showcase the greenest living spaces in Dubai with parklands, green open spaces and private gardens. The development, located off the Umm Suqueim road extension and approximately 10 minutes from AKOYA by DAMAC, will include various residential home options surrounding a championship golf course designed by a well known international golfing star.

AKOYA Oxygen is being developed along the ethos of Escape The City and will be a lush green environment with an upscale resort feel. Luxurious residential properties will be integrated with retail and hospitality products including a five star Hotel, a luxury wellness centre featuring wellness therapies, yoga programs, herbal treatments, diet control and exercise. The fully-integrated community will also include globally-recognised retail brands, leisure & entertainment offerings, and organic market places all set within beautiful manicured landscaping.

Ziad El Chaar, Managing Director of DAMAC Properties said: AKOYA Oxygen is set to be the first community of its kind in Dubai. It is being designed to be a masterpiece that isn't just architecturally accomplished, but also lives in harmony with the environment. We will be relocating over 4,000 trees into the development to ensure cleaner air and naturally cooler temperature. This will be in addition to many water features throughout the community.

When we created AKOYA Oxygen, we had a clear vision that is being translated into every component of the project. From low emission residences, to our utilizing of recycled materials, all this will contribute in transforming AKOYA Oxygen into the first green luxury residential address in Dubai. This green concept will be integral to this new community. Homes will incorporate energy efficient materials such as lighting, low-emission paints and solar water heating systems and will all feature strongly in the building process.

Also within the development, the road network is designed in a way to minimize pollution.

El Chaar stated: "After the success of AKOYA by DAMAC, AKOYA Oxygen came as a logical continuity to this brand and an important step forward in further building on the success in terms of quality, innovation and our association with international brands.

Established in 2002, DAMAC Properties has delivered almost 11,000 units to date and currently has a development portfolio of over 26,000 units at various stages of progress and planning as of June 30th 2014.

About DAMAC Properties:
For over a decade, the rich and diverse real estate portfolio of DAMAC Properties has been at the forefront of the Middle Easts luxury real estate market. With an enduring passion for design and quality, the company has built a reputation for creating some of the most iconic and desirable properties in the UAE, Qatar, Saudi Arabia, Iraq, Jordan and Lebanon.
Established in 2002, DAMAC has delivered almost 11,000 units to date and currently has a development portfolio of over 26,000 units at various stages of progress and planning as of June 30th 2014, which includes over 10,000 hotel rooms and serviced hotel apartments.

Always at the forefront of visionary concepts, DAMAC has relationships with Paramount Hotels & Resorts, (the official licensee of Paramount Pictures), Italian fashion houses Versace Home and FENDI Casa for branded residential apartments and villas and The Trump Organisation for the development and operations of the Trump International Golf Club, Dubai and The Trump Estates within the AKOYA by DAMAC development.

Mid 2013, DAMAC Properties introduced the AKOYA by DAMAC master plan development in Dubai. This includes mansions, villas, luxurious apartments and a retail centre all surrounding The Trump International Golf Club. Within the AKOYA by DAMAC, products include The Trump Estates, a limited collection of 100 luxurious mansions. Also set within the heart of the community is a global first, with the launch of FENDI fashion-styled villas. AKOYA by DAMAC is also the home of Golf Veduta serviced hotel apartments and DAMAC serviced Villas by Paramount Hotels and Resorts.

As a global leader in branded real estate, the company is also developing a US$1 billion hotel and luxury serviced residences in the Burj area of Dubai, called DAMAC Towers by Paramount, which will comprise the first Paramount Hotel & serviced Residences in the region.
Within the hospitality sector, DAMACs in-house hospitality team is responsible for managing the Companys growing portfolio of over 10,000 units of leisure assets in its serviced hotel apartment developments. The division provides complete hospitality management through its own hospitality operating brands DAMAC Maison Hotels and Hotel Apartments and NAIA by DAMAC.
As DAMAC continues to innovate and bring new concepts to the market, the Company is determined to build on its powerful performance to date. With vision and momentum, DAMAC is building the next generation of Middle East luxury living.

In addition to support services provided by the Dubai headquarters, the companys comprehensive Customer Care Program provides solutions through its network with offices in the UAE, Jordan, Iraq, Lebanon, KSA and Qatar.
Further information is available at www.damacproperties.com or join DAMAC Properties on Facebook, Twitter (@DAMACOfficial) and YouTube.
For more information please contact: Niall McLoughlin, Senior Vice President - Corporate Communications, DAMAC. Tel: +971 4 3732190 Fax: 00 9714 3732335 Email: niall.mcloughlin@damacgroup.com

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