Malta's Favourable Tax Climate and Burgeoning Tourism Sector Attractive to Developers, Says DAMAC's Sajwani

DAMAC Chairman meets Maltese PM Dr. Joseph Muscat during first of several planned visits to explore investment opportunities

DUBAI, UAE, July 24, 2017 /CNW/ - DAMAC International Chairman, Hussain Sajwani, sees Malta as a favourable investment destination, following a tour of the island-nation and a private meeting with Maltese Prime Minister Dr. Joseph Muscat. The two discussed the increasing growth of tourism in the EU-member country and Malta's historical appeal as business-friendly investment location.

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"Malta presents an ideal mix of investment benefits that make it a very attractive place for luxury and hospitality developers looking to expand into the EU zone. Thanks to favourable tax incentives for foreign investors as well as a stable government and leadership that continue to drive economic growth through the tourism sector, Malta is a destination that we are keeping an eye on as we continue to explore expansion opportunities there."

Sajwani continues to seek out strategic investments overseas that would enable DAMAC to expand its global footprint beyond the Middle East region, where its success has been clearly established in the luxury real estate development sector. DAMAC is also growing its hospitality and leisure portfolio, with over 13,000 hotel rooms, serviced apartments and hotel villas in its development pipeline under the DAMAC Hotels & Resorts arm.

DAMAC gained international recognition for its strategic partnership with the Trump Organization, where the two partnered to develop the first and only Trump International Golf Club in the Middle East. It has also enjoyed international success the launch of its 50-storey AYKON London One residential development in the United Kingdom, which has already pre-sold over 45 per cent. AYKON London One is set to become one of London's most prestigious addresses and the first in Europe to be designed in partnership with Versace Home.

Last month, DAMAC was chosen by the Government of Oman to redevelop its Port Sultan Qaboos in Muscat, a historic USD 1 billion master development project which will see the port transformed into an integrated tourist port and lifestyle destination that includes hotels, residences, as well as a dining, retail and leisure offering.

DAMAC has delivered more than 18,500 homes and has over 44,000 units in various stages of development. The Company's footprint extends across the Middle East with major projects in the UAE, Saudi Arabia, Qatar, Jordan, Lebanon, United Kingdom and Oman.

Get more information at http://www.damacproperties.com.

DAMAC Properties has been at the forefront of the Middle East's luxury real estate market since 2002 - bringing luxury living experiences to residents from all over the world. Making its mark at the highest end of stylish living, DAMAC Properties has cemented its place as the leading luxury developer in the region, offering iconic design and the upmost quality. The company's footprint now extends across the Middle East with projects in the UAE, Saudi Arabia, Qatar, Jordan, Lebanon and the United Kingdom. 

As of 31st March 2017, DAMAC Properties has delivered approximately 18,500 homes. The company has a development portfolio of over 44,000 units at various stages of progress and planning, comprising more than 13,000 hotel rooms, serviced apartments and hotel villas, which will be managed by its hospitality arm, DAMAC Hotels & Resorts. With vision and momentum, DAMAC Properties is building the next generation of Middle East luxury living.  

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SOURCE DAMAC Properties