Dubai’s Damac Properties ties up with China’s Qfang to boost sales

Dubai-based developer Damac Properties and Qfang, a real estate and financial services company, have signed a collaboration deal to strengthen Damac’s sales operation in China amid rising interest from Chinese investors in Dubai’s properties, the developer said in a statement.

Based on the recent statistics issued by the Dubai Land Department, Chinese investments in the emirate's real estate sector during the first eight months of 2015 reached approximately AED 1.17 billion, Ziad El Chaar, managing director of Damac said in a statement.

Qfang, which is among the largest property companies in China, will be promoting Damac’s properties as well as providing finance options to clients.