Dubai firm to switch HQ from Wharf

Damac opened its UK and Ireland regional headquarters in February, occupying just under 4,000 sq ft.
The company’s CEO Peter Riddoch said at the time that the site would be “both accessible and geographically close” to its clients.

It is understood that the move west is partly prompted by the fact that many staff commute from that part of London.

Damac already has an office in Mayfair and plans to open a new 5,000 sq ft showroom with 40 staff in Piccadilly.

The move is expected to take place within months but not before the end of the year. Damac is reportedly looking for about 10,000 sq ft for corporate use.

It has a property portfolio worth more than £25billion in eight countries, and is hoping to extend its reach from the Middle East into North Africa and South East Asia, as well as boost its UK sales ranks by 40 per cent over the next few months. It recently re-branded itself in a bid to corner the luxury property market.

UK general manager Darren Simpson said: “We initially started with 20 staff in 2003 and we have grown to 105 with a plan to exceed 200 by the end of this year. This new structure will create more opportunities and better career progression within the organisation and will allow us to align ourselves to Damac’s global business model with new, larger and more impressive offices to better showcase our products.
“Our new offices will have 30 to 40 sales staff to cater for the growing number of investors.”