A VISION OF LUXURY UNVEILED DAMAC PROPERTIES’

Journey of Innovation and Excellence

1. DAMAC Hills Mall marks your inaugural step into a comprehensive retail and leisure destination. What sparked the inspiration for venturing into this realm, and should we anticipate similar endeavours from DAMAC in the future?

Our initial entry into the retail domain was realised through the DAMAC Hills 2 Community Centre, which was unveiled in 2021. The concept was born from the strategic proximity and the desire to cater to the specific requirements of DAMAC residents within its vicinity. Excelling as a prominent retail contender within the community mall sector, we are gearing up to unveil further projects in the community mall and retail space, strengthening our presence in this dynamic market. With our new mall opening, we anticipate approximately 1.3 million visitors annually. While our projections will remain robust, we acknowledge that global events can wield an impact on these numbers, introducing potential fluctuations that we vigilantly monitor and adapt to as needed.

2. What will the new mall bring to the master community and neighbourhood communities? What will be the ratio of retail versus hospitality, leisure, and entertainment within the mall?

DAMAC Hills Mall will be a masterful fusion of retail, hospitality, leisure, and entertainment. The mall’s composition encompasses a dynamic blend of 40 retail stores, complemented by 10 F&B outlets. Additionally, the mall will feature a sprawling 28,000 sq ft Spinneys supermarket, a 10,000 sq ft Fitness First gym, and a dedicated 10,000 sq ft Medcare medical facility, collectively crafting a multifaceted environment. For the success of community building, connectivity and accessibility stand as cornerstones which will be apparent in the Mall. Community malls thrive on convenience, and at DAMAC, we meticulously weave our communities with seamless connectivity and easy accessibility as pivotal threads. This ensures that our creations not only inspire but also enhance the lives of those who inhabit them.

3. Clearly, sustaining lasting relationships with tenants and operators is of paramount importance, how do you maintain these all important partnerships – and build upon them? Our approach as developers revolves around nurturing a vibrant community and tailoring bespoke encounters that align with our tenants’ needs and the essence of the community itself. We orchestrate a synergy of visual and interactive dimensions, fostering immersive experiences that harmonise seamlessly with this ethos, ensuring a tapestry of emotions that resonate profoundly. Our Customer Relations Management

(CRM) team are regularly interacting with our residents to understand if they need any help or support. Ease of payment methods for their bills/rent ensures hassle free living. Our team has a constant thrust on improving together by meeting with them every quarter. Our Customer Happiness Centre is another way to facilitate all the needs of our customers. We are supporting this vision with our 24/7 customer centre within the DAMAC Hills Mall.

4. Within your projects, what avenues await international brands seeking to establish their presence?

Our canvas extends globally, offering retail and commercial spaces across key destinations such as the UK, Saudi Arabia, Lebanon, Jordan, and Egypt. We provide an expansive platform for international brands to flourish within our projects, ensuring a worldwide reach and impactful engagement. With our acquisition of global fashion brands such as Roberto Cavalli in 2019 and Swiss jeweller de GRISOGONO in 2020, we expanded our fashion and retail business to diversify our offerings. That was a start, and we continue to look for opportunities and brand acquisitions that reflect our vision and ethos both regionally and globally.

5. DAMAC is now aspiring to be a global leader with projects announced in multiple international markets. Are you actively pursuing expansion into new territories and new businesses, and if you are, which territories interest you the most?

We are rapidly growing, not only in our real estate endeavours but in various sectors such as fashion, hospitality and even emerging industries such as data centres. Locally, we have launched six new branded residences this year, added two new clusters to our third and upcoming master development – DAMAC Lagoons, as well as announced a series of villa and residential projects across our community portfolio. Our global expansion into the US marks a major milestone and demonstrates that DAMAC is a force to be reckoned with. The launch of our Surfside, Miami project marks a milestone in our global portfolio, which includes our project in London – DAMAC Towers Nine Elms, which was handed over to customers, and our upcoming luxury resort project in the Maldives, currently under development. We are currently developing data centres in Saudi Arabia and Turkey, and are looking forward to exploring new markets in Europe. This is an exciting time for us at DAMAC, and we have a lot in store.

6. What are the key drivers behind your success to date?

The key driver behind our success is having a people oriented business model and being agile in market circumstances. With our brand associations with Paramount Hotels & Resorts, Cavalli, de GRISOGONO, Versace, and Fendi, we plan to meet market demands for familiar touchpoints, while offering guests distinctive experiences. Having branded associations also adds a layer of trust with our customers because to work with such reputed brands means that we are very well respected and trusted by our partners in the market which translates into trust with our customers.

7. DAMAC Properties is one of the leading real estate developers in the UAE, and one of the most recognisable brands in the Middle East today. Tell us about your successes and plans in the near future.

Since 2002, DAMAC Properties has pioneered the luxury real estate scene in the Middle East. We’ve curated exceptional residential, commercial, and leisure properties across the UAE, Saudi Arabia, Qatar, Jordan, Lebanon, Oman, the UK, Canada and the US. With a proud track record of more than 43,700 units successfully delivered and a dynamic development portfolio of around c. 30,000 units in various stages of realisation, we’ve had the good fortune of building a brand of trust. Our expansion plans are in top gear, and we will continue to look at new businesses and markets to grow our brand to be a trustable and innovative global name.