DAMAC Properties from Dubai Agrees Strategic Collaboration


DAMAC Properties from Dubai Agrees Strategic Collaboration

Largest Real Estate Agent Company in South of China Joins Forces with Dubai’s Leading Luxury Real Estate Developer 

Qfang, one of China’s biggest real estate and financial services companies have announced a strategic collaboration with the Dubai based Leadingluxury real estate developer DAMAC Properties, looking to strengthen and consolidate its operation in Southern China.

The agreement between Qfang and DAMAC was signed on 20 November in Shenzhen, the headquarter city of Qfang in the presence of top executives from both companies led by Mr. Liang Wenhua, Chairman of Qfang and Mr.Ziad El Chaar, Managing Director of DAMAC Properties.

Mr. Liang Wenhua, Chairman of Qfang said: “We are proud to be associated with DAMAC Properties, the leader in the luxury real estate sector across the Middle East region and especially in the vibrant and growing city of Dubai.”

He added: “Qfang, with its 1200 outlets across 19 cities in China and over 30,000 sales staff will be actively promoting and selling DAMAC’s unique real estate investment products offered to Chinese investors, and proposing financial solutions to suit clients requirements. Qfang’s excellent set up in China paved the way for us to successfully achieve such cooperation with a leading real estate company in Dubai.”

Mr Ziad El Chaar, Managing Director of DAMAC Properties said: “We are delighted to start this cooperation with Qfang that represents one of the most effective sales agencies in China and specifically in the Southern districts.

This cooperation is a natural continuation of our business operation’s expansion in China that represents a very important market for us where sophisticated investors are looking for attractive lucrative deals within the real estate sector.”

El Chaar added: “Based on the recent statistics issued by the Dubai Land Department, Chinese investments in the emirate’s real estate sector reached CNY 2.24 billion last year, which constitutes a more than 300% rise compared to 2013 as stated by The Economic Voice newspaper. And the numbers announced last month by the same department reveal that the total value of real estate investments from Chinese individuals in Dubai during the first 8 months of 2015 reached CNY 2.07 billion.

This transcending trend of investments from Chinese individual investors and companies reflects a positive sentiment of business practice in the prosperous city of Dubai.”

In addition to its extensive operation in China, Qfang’s business operation was extended recently to various other markets servicing clients in Japan, US and Malaysia.

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