Dubai : Dubai-based property developer Damac Properties said it will deliver more than six projects to customers this year, comprising more than 3,000 units worth Dh4 billion.
The news comes at a time when scores of projects have either been postponed or cancelled.
Among those to be handed over are two phases of the company's Emirates Gardens development and Tuscan Residences at Jum-eirah Village South, Lago Vista at IMPZ, XL Tower and Business Tower at Business Bay and Smart Heights at Tecom.
Delivery of these properties will commence as soon as next month starting with the first phase of Emirates Gardens and will continue regularly throughout the year, culminating in the completion of the company's flagship development Ocean Heights at Dubai Marina in the last quarter of the year.
The projects offer a mix of residential and commercial units totalling more than 3,000.
These deliveries are the result of a year of huge construction progress at Damac Properties after the company publicly announced that it would be concentrating specifically on those projects already under way.
Chairman of Damac Properties Hussain Sajwani said that 2010 would be a significant year for the company as it builds on its reputation as a private developer that is able to demonstrate both progress and delivery.
"This will be an exciting year for us as we conclude a number of our major projects in Dubai but also award contracts for new developments,' he said.
"This shows that the decisions we made and the priorities we focused on during 2009 have paid off for our customers who can now look forward to taking delivery of their units. I would also like to thank all those contractors who have worked with us during these tough times to ensure that we have been able to meet our obligations," he added.
Damac Properties expects to announce new contracts for projects in the spring and these will then form the basis of the targets and focus for the next 12 months.
Sajwani said, "The awarding of new contracts is all part of our overall strategy to ensure that there is business continuity and activity at a variety of levels within the company's portfolio of developments."
Damac Properties, part of Damac Holdings, was established in 2002 as a private residential, leisure and commercial developer.
