City still taking business


Despite widespread predictions of slower growth in the broader market, another company has moved into commercial property in London.

Damac Properties has announced the opening of its regional headquarters in Canary Wharf.

Chief executive officer, Peter Riddoch said: "As London continues to develop business and tourism ties with Dubai, our opening in Canary Wharf could not come at a better time."

The company specialises in selling luxury properties in the Middle East and Africa and is expanding across the UK and Ireland.

‘"UK is a very important market for Damac, over 28 per cent of our sales are from UK," said chairman, Mr Hussain Sajwani.

"The new opening of this regional headquarters in Canary Wharf shows our commitment to UK and beyond."

London remains a popular location for companies looking to establish a base in Europe. The City’s location and international connections mean its city offices are often in demand.

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