Damac eyes UK and Europe expansion with new appointment
Former HSBC head of EMEA and Americas real estate Richard Choi joins Damac International as it seeks new growth opportunities across Europe
Damac International has appointed Richard Choi as its London-based senior vice president of business development in its effort to accelerate expansion opportunities in the UK and Europe.
Choi brings more than 22 years of global investment banking and real estate expertise. Based in London since 2000, Choi has been focused on real estate investments and developments across the European, US and Latin American markets, and has overseen in excess of US $40 billion in transactions.
He will be joining the Damac International executive team to spearhead expansion opportunities in the UK as well as in gateway cities across Europe. The company is exploring further investment opportunities following launching its Aykon London One residential tower, a Versace-branded luxury development in Nine Elms which has already pre-sold over 45%.
"Damac International Limited has enjoyed phenomenal growth by selectively choosing expansion markets that have helped position it as a major regional and international property developer," said Damac chairman Hussain Sajwani, in a statement.
"The success of our Aykon London One development in Nine Elms clearly indicates the company’s ability to deliver the right product to the right market, and Choi’s appointment further extends our reach into the UK and Europe moving forward. We are pleased to have him on-board," he added.
Damac was recently chosen by the Government of Oman to redevelop its Port Sultan Qaboos in Muscat, a US $1 billion master development project which will see the port transformed into an integrated tourist port and lifestyle destination that includes hotels, residences, as well as a dining, retail and leisure offering.