Dubai – Mubasher: DAMAC Properties Dubai, listed on Dubai Financial Market (DFM), is considering a number of investment opportunities in several major cities across Europe and the US, senior vice president of marketing Niall McLoughlin told Bloomberg in a statement.
This move may be motivated by the slowing growth in the Middle East as well as Qatar’s political rift, as 6% of DAMAC’s clients are Qataris, Bloomberg added.
On another note, Hussain Sajwani, who was elected company chairman in June, recently said he was looking to take DAMAC to a global scale, adding that he was eyeing expansions in countries like Malta and Croatia, alongside cities like New York, Tokyo and Paris.
Sajwani currently owns 70% of DAMAC’s shares and has strong relations with US President Donald Trump, and is likely building on that relationship, the news agency added.
