DAMAC Properties, on Monday announced that it is well on its way to reaching its target, having sold more than 545 units to date during its special Dubai Shopping Festival (DSF) promotion. As part of its DSF promotional campaign, DAMAC will be giving away a brand new AED5.5 million (US$ 1.5 million) ECLIPSE 500 to one of the first 700 buyers during the event. The company will also be giving away a Jaguar to every new customer buying a DAMAC Property during DSF.

“We have introduced innovative promotions year-on-year and we plan to continue the trend in times to come. This time, we introduced the largest promotion ever, worth over AED87 million during DSF. I am confident that my team will continue to add to the excitement and attraction Dubai Shopping Festival enjoys globally,” said Mr. Hussain Sajwani, Chairman DAMAC Holding.

“During DSF, DAMAC has witnessed a 50 % increase in sales in 2004, an 85 % increase in 2005, and a 105% increase in 2006. “The company has already seen exponential sales since the commencement of the shopping festival this year. We are expecting sales to go higher as we move closer to the end of the festival,” added Mr. Peter Riddoch, CEO DAMAC Properties.

In line with the government’s introduction of freehold ownership, DAMAC was the first to introduce iconic properties on the freehold master development plan launched by Dubai and Abu Dhabi governments. Throughout the period during which 52 buildings were launched, DAMAC Properties, a subsidiary of DAMAC Holding established in 1982, has provided luxury lifestyle that is second to none.