DAMAC Properties serves as Golden Partner in China's Haiwaiyoujia Super Festival

DAMAC Properties, a major luxury real estate developer in the Middle East region, recently participated as the Golden Partner in the Haiwaiyoujia Super Festival in China.
 
The festival was part of the World Real Estate Exhibition Tour, which took place Nov. 18 through 27 across Beijing, Tianjin, Suzhou and Shanghai.
 
“The UAE is an important regional partner of China on the Belt and Road Initiative, and the strategy was further supplemented with the implementation of the UAE’s new visa free entry for Chinese nationals,” Ziad El Chaar, managing director of DAMAC Properties, said. 
 
El Chaar noted that the move will play a strategic role in affirming DAMAC’s relationship with China. It will also help boost the property market in Dubai.
 
“The Chinese represent the source of huge investment potential in the Dubai real estate sector with AED 1 billion in property investments in the first quarter of 2016,” El Chaar said. “Through our existing partnership with 5i5j, the third-largest property broker in China, we believe that we’re effectively bringing our pipeline of properties to the Chinese.”