A LUXURY real estate developer in Dubai and the Middle East wants to invest in a 10-hectare property in Kawit Island at the South Road Properties (SRP).
Damac Properties Co. LLC wants to develop the area into a high-end mixed use project with restaurants, coffee shops and little marina.
The company, through their senior vice president for business development Ziad Shibi, told Mayor Michael Rama about their plans in a letter dated May 14 this year.
Over a week ago, Rama, together with Department of Tourism Undersecretary Maria Victoria Jasmin, met with the foreign investor during his trip to Manila.
In his letter, Shibi said he was able to know about Kawit Island when he visited SRP in March this year and immediately saw the business opportunity in the area.
He said they will be submitting the concept and design for their project soon once they will be able to receive answers from the City Government on some queries that their technical team have raised. Shibi, however, did not further elaborate on the matter.
During his regular news conference on Monday, Rama showed to the media a portfolio of the projects and accomplishments of Damac.
In the portfolio, Damac said their company, which was established in 2002, is a residential, leisure and commercial developer.
The company is said to have earned an “unmatched reputation” for their luxurious waterfront developments, architectural landmarks, and residential, retail and office addresses.
Damac said their real estate partnerships include, among others Versace Homes, which designs their residences. Versace Homes, they said, is synonymous with Italian luxury worldwide and was founded by designer Gianni Versace.
To date, Damac said they have already completed more than 35 buildings with more than 7,300 units and spanning over 13 million square feet.
Aside from Dubai, Damac Properties’ projects are located in Iraq, Jordan, Lebanon, Qatar and Saudi Arabia. (PDF)