Dubai – Mubasher: Damac Properties’ brand will not be affected by to the company’s deals with Donald Trump and the Trump Organization, Damac chairman Hussein Sajwani said in an interview with CNBC.
The Dubai Financial Market (DFM) listed company’s joint projects with Trump businesses, including the operation of two golf courses in Dubai were not subjected to any negative effects due to the American president’s shrunk popularity, Sajwani added.
“We have opened the first golf course and we’re very happy with the design and the quality. I think it’s one of the best golf courses, not in the Middle East, but around the world,” the CEO commented.
Dubai's real estate market is stable and has a promising future, Sajwani told CNBC, adding that he was not fear any excess in properties’ capacity.
“We need a minimum of 15,000 units every year. In the last three years, we’ve produced less than 10,000 units. Going forward I don’t see more than 10,000 to 12,000 units, so I see supply and demand equilibrium,” the top official concluded.
