Leading luxury real estate developer, DAMAC Properties have announced a strategic collaboration with Qfang, one of China’s biggest real estate and financial services companies, looking to strengthen and consolidate its sales operation in China.
This is the second major agreement of its kind for DAMAC with a leading Chinese company specialised in the sales of real estate in China. Associations and strategic collaborations in international markets are a proven strategy of the successful business operations of the Dubai-based company, reinforced by the latest financial reports issued earlier this month highlighting approx. AED3.67 billion net profit for 9M of 2015.
The agreement between DAMAC and Qfang was signed on 20th November in Shenzhen, in the presence of top executives from both companies led by Ziad El Chaar, Managing Director of DAMAC Properties and Liang Wenhua, Chairman of Qfang in China.
Ziad El Chaar said. “We are delighted to start this cooperation with Qfang that represents one of the most effective real estate sales agencies in China and specifically in the Southern districts. This cooperation is a natural continuation of our business operation’s expansion in China that represents a very important market for us where sophisticated investors are looking for attractive lucrative deals within the real estate sector.”
Liang Wenhua said, “We are proud to be associated with DAMAC Properties, the leader in luxury real estate sector across the Middle East region and especially in the vibrant and growing city of Dubai. “Qfang, with its 1,200 outlets across 19 cities in China and over 30,000 sales staff will be actively promoting and selling DAMAC’s unique real estate investment products offered to Chinese investors, and proposing financial solutions to suit clients’ requirements. Qfang’s excellent set up in China paved the way for us to successfully achieve such cooperation with a leading real estate company in Dubai.”
In addition to its extensive operation in China, Qfang’s business operation was extended recently to various other markets servicing clients in Japan, US and Malaysia.
Source: Emirates news agency
