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Damac hires business development SVP for international arm

Damac International, UAE-based Damac Properties’ global subsidiary, has appointed Richard Choi as its senior vice president of business development

Damac International has appointed Richard Choi (above) as its SVP of business development.
Damac International has appointed Richard Choi (above) as its SVP of business development.

Damac International, the global development subsidiary of UAE-based Damac Properties, has appointed Richard Choi to the position of senior vice president of business development.

Choi, who previously worked as HSBC’s head of Europe, Middle East, and Americas real estate, will operate from the company’s London office.

The move will serve to accelerate Damac International’s expansion in the United Kingdom and European markets, according to the company.

Commenting on Choi’s appointment, Hussain Sajwani, chairman of Damac Properties, said: “Damac International has enjoyed phenomenal growth by selectively choosing expansion markets that have helped position it as a major regional and international property developer.

“The success of our Aykon London One development in Nine Elms clearly indicates the company’s ability to deliver the right product to the right market, and Choi’s appointment further extends our reach into the UK and Europe moving forward.”

Choi boasts more than 22 years of experience in the fields of global investment banking and real estate. Since relocating to London in 2000, he has focussed on real estate investments and developments across Europe, the US, and Latin America, overseeing more than $40bn in transactions.

Damac International’s project portfolio includes Aykon London One, the first residential development in Europe to be designed in partnership with Versace Home.

In June 2017, the real estate developer was selected by the Omani government to redevelop Port Sultan Qaboos, a $1bn (OMR384m) master development in Muscat.

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Construction Week - Issue 747
Aug 03, 2019