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Ziad El Chaar
24

Ziad El Chaar

 Managing Director, Damac
Khaldoun Tabari
David Welch

Dubai’s Damac Properties suffered a minor blow in Q1 2016, reporting a 15% year-on-year drop in its net profit. Nevertheless, this figure still came in at $285m (AED1.05bn) – not bad considering the current economic climate.

From a project perspective, Ziad El Chaar, managing director of Damac, has certainly enjoyed a productive year. So far in 2016, he and his colleagues have launched the $2.1bn (AED7.4bn) Aykon City development; introduced a collection of $462,900 (AED1.7m) hotel spa villas at Damac’s Akoya Oxygen master development; and even unveiled the Aykon Dare tourist attraction, which will allow thrill-seekers to take a walk around the perimeter of Aykon City’s tallest tower.

Damac Towers by Paramount Hotels & Resorts, meanwhile, topped out in April. Due to complete next year, the $1.3bn (AED4.77bn), four-tower project will house 1,200 serviced residences.

Commenting at the time, El Chaar said: “It is with great enthusiasm that we look forward to completing this exciting and iconic project, which will bring a first-of-its-kind branded product offering to Dubai investors, residents, and visitors alike.”

Other player

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1
ALEC
Yu Tao
2
CSCEC ME
Hamish Tyrwhitt
3
Arabtec Holding / Depa Group
Emad Azmy
4
Emad Azmy
Dr Eng Sani Sener
5
TAV Group
Samer Khoury
6
Consolidated Contractors Company (CCC)
Mohamed Alabbar
8
Emaar Properties
Stephen Flint
9
Khansaheb Civil Engineering
Patrick McKinney
10
BAM International

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Conferences

CW In Focus | Inside the Leaders in KSA Awards 2019 in Riyadh
Meet the winners in all 10 categories and learn more about Vision 2030 in this
CW In Focus | Leaders in Construction Summit UAE 2019
A roundup of Construction Week's annual summit that was held in Dubai this September

Latest Issue

Construction Week - Issue 758
Feb 08, 2020