Damac to deliver 11,650 units

Beirut: Damac Properties said it plans to deliver 11,650 residential units during the next two years after it signed in the last 13 months deals worth Dh4 billion ($1.09 billion) for 20 projects across the Middle East, the pan-Arab Asharq Al Awsat daily reported Saturday.

The Dubai-based developer, which recently relaunched the Damac tower with Italian fashion house Versace here, has recently handed over 3,500 residential units and plans to deliver 4,000 more in the coming six months, Hussain Sajwani, the property developer's chairman, told the paper.

Sajwani added that by 2012 his company would complete the handover of all residential units sold in the entire Middle East region.