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.”
