Palm Springs Investors Group

A recent report in the online business journal Kippreport cites Hussain Sajwani, chairman of Damac, speaking in 2006 as saying

“The key to making a successful investment in the property market is to treat the deal as a long-term investment, have patience, buy only quality products in strategic locations, and always go for a quality developer“

In light of the recent ‘cancelling’ of the Palm Springs project by Damac, Sajwani’s investment advice is a serious indictment on his and Damac’s credibility. If Damac do not act decisively to resolve the Palm Springs debacle it is inevitable that the company will suffer long term damage, with ramifications for the whole of the Dubai real estate industry.

Read the full report here