Singapore-listed Pacific Star Development (PSD) and Dubai’s DAMAC International have become partners in jointly developing luxury properties across key cities in Southeast Asia over the next five years.

GlenChan11.17Glen Chan, CEO and Managing Director of PSD with Hussain Sajwani, Chairman of DAMAC.
Photo: Company
That paves the way for DAMAC International’s entry into Southeast Asia where both partners share a positive outlook on the increasing demand for high-end properties in this market. 


The two developers are jointly targeting projects in Malaysia and Thailand as primary markets, followed by Vietnam, Indonesia and Singapore. 

They will jointly develop residential, hospitality and retail projects in prime locations. 



LQM 993300We are looking at a broad spectrum of development opportunities that capitalize on Southeast Asia’s rising urbanisation, favourable demographics and increasing tourism. DAMAC's strengths are a clear advantage in these markets where it has demonstrated leadership in developing world-class projects, creating innovative sales and marketing strategies and optimizing cost effective delivery approaches.”

-- Glen Chan,
CEO and MD,
Pacific Star Development.
He was recently named “2017 Malaysia Real Estate Personality of the Year” at PropertyGuru Asia Property Awards (Malaysia) 2017.

DAMAC International is part of DAMAC Group, which develops luxury real estate in the Middle East and has delivered over 19,000 units in the region.

DAMAC Group’s current development portfolio has more than 44,000 units, including 13,000 hospitality units, in various stages of development.

“DAMAC International’s partnership with PSD will create significant expansion opportunities where both developers can leverage each other’s strength to bring innovative, high-end real estate products to new markets in Southeast Asia,” said Hussain Sajwani, Chairman of DAMAC.

“DAMAC International has been one of the most successful developers in the Middle East over the last 15 years, and we aim to take that capability to international markets with leading partners like PSD.”

PSD has a proven track record of international standards in the high end real estate sectors and an in-depth understanding of the local markets.

In addition, PSD will leverage its capabilities to secure prime land parcels in Southeast Asia by utilizing its network of established value chains in the region.

AYKONCityNew project of DAMAC: AYKON City is Dubai’s newest landmark, neighbouring Burj Khalifa, Dubai Fountains, Dubai Canal, City Walk, Boxpark and a host of global luxury brands. Photo: DAMACThe DAMAC Group’s diverse portfolio of real estate developments includes branded real estate, hospitality and serviced hotel apartments in the Middle East and the United Kingdom. 

It has successfully collaborated with global brands such as The Trump Organization, Tiger Woods Design, Versace Home, Fendi Casa, Paramount Hotels & Resorts, Roberto Cavalli Group and Bugatti to deliver award-winning signature properties over the last 15 years. 




Share Prices

Counter NameLastChange
AEM Holdings4.1400.020
Avi-Tech Electronics0.290-
Broadway Ind0.136-0.002
China Sunsine0.4550.015
DISA0.003-
Food Empire0.505-0.010
Fortress Minerals0.340-
Geo Energy Res0.385-0.005
Golden Energy0.8400.005
GSS Energy0.045-
InnoTek0.410-0.020
ISDN Holdings0.440-0.005
ISOTeam0.100-
IX Biopharma0.136-
Jiutian Chemical0.0790.001
KSH Holdings0.330-0.005
Leader Env0.0620.007
Medtecs Intl0.116-0.001
Meta Health0.031-
Moya Asia0.089-
Nordic Group0.480-
Oxley Holdings0.159-
REX International0.255-0.005
Riverstone0.595-
Sinostar PEC0.180-
Southern Alliance Mining0.600-
Straco Corp.0.400-
Sunpower Group0.260-
The Trendlines0.085-
Totm Technologies0.124-
UG Healthcare0.1770.001
Uni-Asia Group0.8650.005
Wilmar Intl3.730-0.030
Yangzijiang Shipbldg1.1800.080

NextInsight RSS

rss_2 NextInsight - Latest News

Online Now

We have 541 guests and no members online