Dubai-based DAMAC Properties forays into the US real estate market with ultra-luxury CAVALLI brand condos in Miami
Commenting on the purchase, the president and founder of DAMAC, Hussain Sajwanisaid: “DAMAC Properties has long considered development opportunities in Miami. We see the city, which is known as a center of luxury and fashion, as a natural fit for our business, which has an established reputation for its branded luxury offerings.
Surfing sidein recent years, has become a hotspot for ultra-luxury condominium developments, including the Four Seasons Private Residences, Fendi Chateau Residences and Arte Surfside Buildings.
The city also has a collection of upscale hotels including the Four Seasons, St. Regis Bal Harbor and Ritz-Carlton Bal Harbor and its main shopping district, the Bal Harbor Shops, is world famous. Miami as a luxury shopping destination.
DAMAC Properties, known for both regional and global luxury real estate offerings, is rapidly expanding its global footprint, such as its flagship project in Europe — DAMAC Towers Nine Elms in the prestigious Zone 1 district of London with Versace interiors.
The Surfing side project will be DAMAC’s first in United States.
The Company’s continued success over the years, and more recently on the tailwinds of that of Dubai outstanding economic performance and forecast, has propelled it eye to various global opportunities for development and growth.
He is developing a luxury resort in the Maldives will be operated by global hotel brand Mandarin International and already has plans in Canadathe UK and across the Middle East.
In 2021, DAMAC Properties launched two projects in dubaiDAMAC Lagoons, the developer’s third master community in dubai, and Cavalli Tower, an ultra-luxurious 70-story tower overlooking the Palm Jumeirah, with Cavalli-branded interiors. Both projects have generated great interest and demand from customers.
“Our global expansion in United States marks an important milestone and demonstrates that DAMAC is a force to be reckoned with. It’s an exciting time and we have a lot to do,” said Sajwani.
“We are experiencing rapid growth, not only in our real estate projects, but in various sectors such as fashion, hospitality and even emerging industries such as Metaverse, NFT and data centers. This allows us to keep a one step ahead,” he concluded.
DAMAC SOURCE Properties