Saudi Arabia is forecast to become one of the best performing real estate markets in the world in 2012, according to the Middle East’s private developer Damac Properties. With investment bank Rasmala predicting five per cent growth in house prices over the next two consecutive years, Saudi Arabia’s property sector is poised to become one of the world’s leading property markets.

Luxury developer Damac Properties will represent Arabia next month in London at the world’s most prestigious real estate competition, ‘The International Property Awards.’

The Middle East’s largest private developer, DAMAC Properties, has announced it has topped out its ‘Suburbia’ residential development in Downtown Jebel Ali. Surbubia is a multi-tower development, with the two tallest towers topped out at level 17. Work will now begin on the external cladding of the project. All main packages including joinery, aluminium and metal works have been finalised and relevant works are progressing on site.

Damac Properties, one of the largest private developers in the Middle East, has announced it has reached key construction milestones across its four projects in Amman, Jordan. The main contractors United Engineering Construction (UNEC) and El Concorde Construction have completed level twelve of 'The Heights,' as well as the ground floor for 'Lofts at the Heights' and the fourth basement slabs for both 'The Courtyard 1 & 2.'

Damac Properties has announced at Cityscape that it has delivered more units in the UAE than any other developer in 2011. Damac Properties has completed 21 buildings comprising of 4,072 units this year to date.