As part of its ongoing expansion into the Middle East, DAMAC Properties has signed a memorandum of understanding with Amrabat Holding to develop a new luxury residential community in Dubai.

The agreement is expected to create thousands of jobs and generate significant economic activity in the region. DAMAC Properties will be responsible for the overall development of the project, while Amrabat Holding will provide expertise and support in various areas such as design, construction, and marketing.

"This partnership is a significant milestone for DAMAC Properties," said Ahmed Al Maktoum, chairman of DAMAC Properties. "We are excited about the potential of this project and believe that it will contribute significantly to the growth of the real estate industry in the UAE."

Amrabat Holding is one of the largest private sector companies in the Middle East, with a strong track record of delivering high-quality projects across a range of sectors including residential, hospitality, and retail. The company has a proven track record of successfully developing luxury residential communities in several countries in the region, including Dubai, Qatar, and Bahrain.

"We are delighted to partner with DAMAC Properties on this exciting project," said Dr. Mohammed Al Maktoum, CEO of Amrabat Holding. "We are confident that our combined expertise and resources will enable us to deliver a world-class residential community that meets the highest standards of quality and sustainability."

The new project will feature a mix of luxurious apartments, townhouses, and villas, all designed to meet the needs of today's modern lifestyle. It will also include a range of amenities, including a state-of-the-art fitness center, swimming pool, and landscaped gardens, to ensure that residents can enjoy a comfortable and enjoyable living experience.

This partnership marks another important step forward for DAMAC Properties, which continues to expand its reach and establish itself as a leading player in the Middle East's rapidly growing real estate market. With the signing of this agreement, the company looks set to further cement its position as a key player in the region's property market, and to continue driving economic growth and creating jobs for the local community.

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