Dubai-based DAMAC properties to raise towers in India

Hyderabad, Apr 5 (UNI) The Dubai-based DAMAC properties, which has carved a niche for itself in West Asia, plans to make a foray into property development market in India in a big-way with focus on large metropolitan cities, its Chairman Hussain Sajwani said today.

Talking to reporters here after a meeting with Andhra Pradesh Chief Minister Y S Rajasekhara Reddy, he said DAMAC properties, part of the DAMAC intended to make an investment of one billion dollars in property development in the ''rapidly growing clean city'' of Hyderabad.

The company, which had grown into successful residential, leisure and commercial developers in West Asian countries and expanding rapidly into North Amercia, Jordan, Lebanon, Qatar and the Far East, was keen on developing properties in New Delhi and Mumbai, among other tier I cities, he said.

It was keen on making its mark in India developing schemes that included residential, commercial and leisure facilities by partnering with world renowed architects and designers. The company's diverse range of expertise allows it to control land purchase activity, appointment of architects and designers, construction and sales and after-sales-service.

The multi-billion dollar corporation plans to construct a 76-storey tower, a golf course and star hotel near the upcoming International Airport in Shamsabad.

UNI