The developer's offices in Dublin, Glasgow, Southampton and Birmingham will all be closed and their workload consolidated into expanded showrooms in Manchester, Leicester, and Chiswick and Canary Wharf in London, the company confirmed.
It is planning to continue growing its presence in Europe and expects to boost its UK sales staff by 40% to meet additional demand. It is also looking for new headquarters in London as it is growing out of its existing Canary Wharf headquarters, CEO Peter Riddoch said.
'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. Our new offices will have 30 to 40 sales staff to cater for the growing number of investors,' he added.
Along with the re-positioning comes a new brand which will be unveiled on the company's website next week. It focuses on luxury and quality.
'We are expanding aggressively into new markets and are growing at a very fast pace. We are associated with luxurious high quality construction and unique properties. Our new corporate identity is a significant step forward and the beginning of a new journey which will lead us to the top,' said Riddoch.
But it is not just about a new look, new values are also being launched. 'A company's corporate identity is 20% visual and 80% behavioural. We are also introducing our four new core values for our organisation: enterprising, responsiveness, tenacity and premium. We believe in living these core values as it will be very important for us to deliver our brand promise. This will be evident in all our projects, right from its inception to delivery,' he added.
Damac Properties, one of the largest developers in the Middle East, sparked controversy with European investors earlier this year when it announced the cancellation of its Palm Springs project on Palm Jebel Ali. A group of about 60 investors, mostly from the UK, threatened legal action if the project was not reinstated.
After negotiations with Dubai's Real Estate Regulatory Authority (RERA) and Palm master developer Nakheel, Damac reversed the cancellation decision.