DUBAI, UAE, August 23, 2017 /PRNewswire/ --
Meeting with Toronto
Mayor John Tory reveals continued demand
for condominiums and houses
by Canadians and foreigners
Toronto's property market
continues to see strong demand, according to DAMAC International
Chairman, Hussain Sajwani, following
his visit to the city during a business tour of Canada this week to explore new investment
opportunities.
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During a meeting with Toronto
Mayor, John Tory, Sajwani praised
Toronto's diverse community, which
continues to attract highly skilled professionals from around the
world as well as international investors looking to get a foothold
in Toronto's lucrative property
sector. Strong demand for condominiums and family homes in the
Greater Toronto Area continues to
make the city an ideal investment location.
"In a way, Toronto and
Dubai share a number of
similarities, as both cities continue to attract skilled
professionals and investors who are looking for a stable, friendly
market to raise their families while offering strong investment
returns on property purchases," said Sajwani. "Both cities are
leaders in attracting top talent from around the world, both offer
a rich, culturally-diverse environment that is safe, vibrant, and
family friendly, but most importantly, both cities have a
burgeoning property market that continues to show resilience and is
able to deliver strong returns."
Toronto has experienced surging
property prices for the last few years due to continued demand by
citizens and foreigners. Canada's federal housing agency,
Canada Mortgage and Housing Corp. (CMHC), said the current
stabilization in prices will be short-lived, and is an immediate
market reaction to the Ontario
government's recent introduction of a 15 percent tax on foreign
buyers, aimed at slowing down overheating housing prices.
DAMAC continues to explore international opportunities overseas
that would enable it to expand its global footprint beyond the
Middle East. On 14 August 2017, it announced its first-half 2017
financial results, which showed booked sales of approximately
USD 1.1 billion and deliveries of
over 1,000 units at its DAMAC Hills master development, bringing
the total number of units delivered there to more than 3,100.
Since 2002, DAMAC has delivered more than 19,000 homes and has
over 44,000 units in various stages of development. The Company's
footprint extends across the Middle
East with major projects in the UAE, Saudi Arabia, Qatar, Jordan, Lebanon, the United
Kingdom, and Oman.
Get more information at
http://www.damacproperties.com
DAMAC Properties has been at the forefront of the
Middle East's luxury
real estate market since 2002 - bringing luxury
living experiences to residents from all over the world. Making its
mark at the highest end of stylish living, DAMAC Properties has
cemented its place as the leading luxury developer in the region,
offering iconic design and the upmost quality. The
company's footprint now extends across the
Middle East with projects in the
UAE, Saudi Arabia, Qatar, Jordan, Lebanon and the United Kingdom.
As of 30 June 2017, DAMAC Properties has
delivered approximately 19,000 homes.
The company has a development portfolio of over 44,000 units at
various stages of progress and planning, comprising more than
13,000 hotel rooms, serviced apartments and hotel villas, which
will be managed by its hospitality arm, DAMAC Hotels & Resorts.
With vision and momentum, DAMAC Properties is building the next
generation of Middle East luxury
living.
Follow DAMAC Properties on Facebook,
Twitter (@DAMACofficial) and
YouTube.