Damac properties, which predicted in February this year that it would book around $150m in sales in Ireland this year, closed its Dublin doors last week, reports the Times.
The company has also said that it would be closing other small offices in the British Isles offices, including those in Glasgow, Southampton and Birmingham, while adding showrooms to offices in Manchester, Leicester, and London.
Dubai’s popularity among Irish buyers has dropped to 20th in a Sunday Times calculation of the world’s most popular markets. It was 10th a year ago.
Interestingly, Google’s new tracking technology, which lists out search trends, shows that Ireland ranks fourth in the list of countries searching for Damac Properties in the last month. (First is UAE, followed by the US and India). Even the UK (where Damac is opening its new offices), comes beneath Ireland.
However, Ireland doesn’t feature in the top ten countries searching for the property builder in the last year. So, why did Damac Properties generate such a buzz in Ireland in the past 30 days?