Dubai's Damac expands operations into China

Damac agrees sales cooperation deal with Qfang, one of the largest real estate companys in South of China

The agreement between Damac and Qfang was signed on 20 November, 2015 in Shenzhen.
The agreement between Damac and Qfang was signed on 20 November, 2015 in Shenzhen.

Dubai-based real estate developer, Damac Properties, collaborated with Qfang, is looking to strengthen and consolidate its sales operation in China.

This is the second major agreement of its kind for Damac with the Chinese company specialised in the sales of real estate in China.

The agreement between Damac and Qfang was signed on 20 November, 2015 in Shenzhen, the headquarter city of Qfang in the presence of top executives from both companies led by Ziad El Chaar, managing director of Damac Properties and Liang Wenhua, chairman of Qfang in China.

El Chaar said: “We are delighted to start this cooperation with Qfang that represents one of the most effective real estate 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.”

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

He added: “Qfang, with its 1,200 outlets across 19 cities in China and over 30,000 sales staff will be actively promoting and selling Damac’s real estate investment products offered to Chinese investors, and proposing financial solutions to suit clients’ requirements. Qfang’s set up in China paved the way for us to successfully achieve such cooperation with a leading real estate company in Dubai.”


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