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DAMAC Properties Launches Over 100,000 Square Feet Of Retail Space
4-9-2005 Download Word File


DAMAC Location and Design (DLD) Advantage of Park Towers at DIFC, Lake Terrace and Lake view due to attract substantial footfall


Dubai – September 4th 2005 – Luxury lifestyle provider, DAMAC Properties, announced today the launch of over 100,000 square feet of retail spaces in its Lake Terrace and Lake View residential projects located in Jumeirah Lake Towers, and the Park Towers development located within the Dubai International Financial Centre (DIFC).

The retail spaces, strategically located in some of the most iconic developments in Dubai, are set to house a plethora of retail shops and fashion outlets, as well as a variety of stylish restaurants and cafes.

“Riding on the success of the launch of our Marina Terrace retail space, we have decided to launch retail spaces on three of our magnificent real estate developments located in Jumeirah Lake Towers and the prestigious Dubai International Financial Centre. We are confident that our trademark DAMAC Location and Design (DLD) advantage will give our future retailers the opportunity to be present in some of the most sought after master planned developments in Dubai”, said Peter Riddoch, CEO at DAMAC Properties.

Riddoch added: “Due to the unique design and prime location of these developments, prospective clients will be guaranteed to generate substantial footfall to our newly introduced DAMAC retail outlets”

Jumeirah Lake Towers is located opposite the Dubai Marina, in close proximity to Dubai’s exclusive golf courses, prestigious hotels and resorts, as well as the Mall of the Emirates and Dubai Land. The prestigious Dubai International Financial Centre (DIFC) is located on Sheikh Zayed Road, next to the renowned Emirates Towers.

DAMAC Properties was the first to introduce residential projects on every master planned development introduced by the Dubai Government, including the Palm Islands in Jumeirah and Jebel Ali, Dubai Marina, Dubai International Financial Centre (DIFC), Jumeirah Lake Towers, Discovery Gardens, and the International Media Production Zone.

The total value of DAMAC Properties is over AED 6 Billion. It is a subsidiary of DAMAC Holding, an accredited ISO 9002 company that has grown into a global conglomerate with more than 5000 employees in 16 countries. Being the first private developer to make a commitment to Dubai’s real estate market, DAMAC Properties has become a market leader with a strong sales record to its credit.
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Cyprus

At the crossroads of three continents, at the meeting point of great civilisations, Cyprus has developed - and for thousands of years has maintained - its own civilisation centre, assimilating the various influences from those who conquered the island. It has remained a thriving centre of Greek culture with some specific characteristics.

The island is now a full member of the European Union. The Island of Aphrodite is the third largest island in the Mediterranean, situated in the east and in close proximity to the busy trade routes linking Europe with the Middle East, Russia, Central Asia and the Far East. Its climate is Mediterranean, with mild winters and dry summers while 17% of its surface is covered by vegetation, including forests of evergreen and deciduous trees, shrubs and flowers. The flora comprises about 1800 indigenous species, subspecies and varieties. The official languages are Greek and Turkish, with English and other European languages being very widely spoken. The cultural life of Cyprus finds expression through the creative arts: literature, poetry, concerts, opera, dance, painting and sculpture are some of its manifestations, with an abundance of museums and art galleries.

Leptos Estates is a member of the Leptos group of companies, a corporation that was established in 1961. Nowadays, the Group is one of the largest employers in Cyprus within excess of 1,500 employees and consists of more than 30 companies, (including Leptos Calypso Hotels, a public company that owns and operates 9 hotels with more than 3,500 beds).

Leptos Estates is one of the largest private landowners in the Mediterranean and consists of a number of development companies, including Pandora Investments Ltd, a public company operating in the areas of tourism, land investment and development.

Leptos Estates selects the finest locations Cyprus has to offer in residential, retirement and holiday residences and uses the highest standards of construction and design, to build elegant homes to suit the lifestyle and taste of today's discerning property owners. Choose from villas, bungalows, town-houses, penthouses and apartments. Leptos Estates also offers an extensive range of resale properties.

Over the years, Leptos Estates has successfully completed over 80 different new home developments in Paphos, boasting more than 10,000 happy home owners.

Bulgaria is located in Southeast Europe bordered by the Black Sea to the east, Romania to the North, Yugoslavia and Macedonia to the West, Greece to the South and Turkey to the Southeast. Historically an important crossroads between Europe and Asia, it is the oldest country in Europe and steeped with world important historical sites, buildings and Villages.

Bulgaria has an area of 110,000 Sq Km, making it about 50% the size of the United Kingdom and a population of 7.6m people. This makes Bulgaria the lowest density populated country in Europe.

Bulgaria is predominately a Christian country with 83% of its people belonging to the Bulgarian Orthodox Church.
The country escaped the political strife of its neighbours and, indeed, Bulgarians are known to be very tolerant of other religions. A study of the treatment of it's 50,000 Jewish population during the Second World war gives a particularly good insight into the psyche of the people- http://www.adl.org/PresRele/HolNa_52/3099-52.asp - for short article.

Bulgaria boasts 354Km of coastline along the Black Sea with the largest cities along the coastline being Varna, in the north, and Burgas, in the south. The largest beach resort is Sunny Beach, just north of Burgas, which has been completely remodelled over the past three years.

Heavy foreign investment in Sunny Beach has resulted in a summer resort to rival any in Europe and it attracts over 700,000 tourists in a season, drawn to it's 8Km sandy beach and over 1700 hours of sunshine from May to October. Summer temperatures along the Black Sea reach 30-35 degrees C and cool offshore breezes make this area of Bulgaria very popular.

Travel time to the Black Sea coast, through the airports of Burgas or Varna, is an easy 2.5 hours from London and 3.5 Hours from Dublin.

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This development will feature in the 2006 Balkan Holidays Brochure and rental income will be available for those clients interested.