DAMAC Properties, one of the UAE’s leading and most prestigious real estate developers, has officially opened a new marketing office in Egypt, signaling its confidence in the strength and allure of the Egyptian property market and its ambition to boost sales to Egyptians both at home and abroad.

Egypt: A High-Potential Real Estate Market

Hany Kotat, Vice President of International Sales at DAMAC, told journalists at the opening that Egypt represents a highly promising market, thanks to its population of over 110 mn, young demographic profile, and the enduring demand for real estate as a store of value.

“If the Egyptian market wasn’t attractive, we wouldn’t have made the decision to expand and open a permanent marketing office,” Kotat said, highlighting strong purchasing power and sustained local demand as decisive factors behind the move.

Showcasing DAMAC’s Global Portfolio to Egyptian Buyers

The new office’s primary mission is to market DAMAC’s projects in Dubai and across the UAE to Egyptian buyers, in close collaboration with an extensive network of more than 150 local real estate agents — a figure achieved even before the office officially opened.

In 2024, Egyptians ranked among the top 10 nationalities purchasing DAMAC properties worldwide, with sales rising significantly compared to previous years. Kotat expects this upward trend to continue, particularly as many buyers seek to hedge against currency fluctuations by investing in dollar-denominated assets.

Ambitious Growth Targets

DAMAC aims to increase sales from the Egyptian market by 20–25% compared to the previous quarter, maintaining steady growth throughout the year. Beyond Dubai, the company is promoting its entire global portfolio, with Egyptians showing strong interest in projects such as the ultra-luxury DAMAC Tower Nine Elms in London — fully branded by Versace.

A Global Sales Approach

Kotat attributed DAMAC’s worldwide success to its proactive outreach strategy.
“We don’t wait for the customer to come to us — we go to them, wherever they are in Europe, Asia, America, or Africa,” he said. This approach includes direct marketing programs and partnerships with thousands of real estate brokers.

One standout initiative is the “Fly In” program, which offers potential clients complimentary flights and hotel stays to visit Dubai and explore DAMAC projects firsthand before making a purchase decision.

Smart Solutions for a Digital Age

DAMAC leverages cutting-edge technology to enhance client and agent experiences. The “DAMAC 360” app allows agents to showcase units and complete bookings online without paperwork, while the “DAMAC Living” app enables homeowners to manage their properties post-handover — from rentals and service requests to bill payments.

Luxury Hospitality Footprint

Beyond real estate, DAMAC operates the “DAMAC Maison” serviced apartment brand and maintains partnerships with global hospitality names such as Radisson Blu, Rotana, and Paramount Hotels. The company also boasts a luxury tourism venture in the Maldives under the Mandarin Oriental brand, alongside iconic residential and hotel towers worldwide branded by fashion houses like Versace and Cavalli.

Egypt Remains a Strategic Market

Kotat concluded by reaffirming Egypt’s strategic importance for DAMAC, noting that Egyptian buyers represent a significant share of sales — around 55–60% from expatriates and 40–45% from local investors. “Whether it’s Egyptians at home or abroad, this market will always be a core focus for us,” he said.