Luxury real estate developer Damac Properties said it has won top honours for its 47-storey luxury residential tower, Al Jawharah, at the ‘Design and Build Awards’ held in Riyadh, Saudi Arabia.

The Al Jawharah, located on the banks of the Red Sea in Jeddah, was awarded the best Residential Project of the Year at the event.
 
On winning the award, Ziad El Chaar, the managing director at Damac Properties, said: "Damac’s excellence doesn’t stop here; we are delighted that our first completed international project has won this prestigious award and we are confident that our other luxury projects in Saudi Arabia will witness similar success."

Damac, he stated, has two major luxury residential projects under construction in Riyadh; the first being Damac Esclusiva with interiors by Fendi Casa and the second, Damac Tower by Paramount Hotels & Resorts, both luxury serviced hotel apartments to be managed upon completion by Damac Maison and Paramount respectively.

Both the projects, which overlook the Kingdom Tower on King Fahd Road in the heart of the capital city, are making impressive progress and recently reached a key milestone last month with the topping off of both towers, said El Chaar.

"We have seen positive response from our customers to luxury living concepts in the kingdom," he noted.

"Damac Esclusiva and Damac Tower by Paramount in Riyadh represents the new elegant and luxurious way of living demanded by a refined segment of Saudis living in these two cities, or those visiting for vacation or business purposes," remarked El Chaar.

"These projects present a great opportunity for investment while buying a place for living in one of the most desired areas in Jeddah and Riyadh," he added.-TradeArabia News Service