Otis Strengthens Bond With Dubai Luxury Real Estate Developer

Otis continues to strengthen and grow its relationship with DAMAC Properties, a leading luxury real estate developer based in Dubai, Otis President and CEO Judy Marks said during a July 23 earnings call. Its latest agreement with DAMAC includes the supply and installation of 20 SkyRise^® elevators at DAMAC Bay 2 in Dubai Harbor. The complex comprises two 47- and 49-story towers connected by a shared podium. Recreation and entertainment areas will be built on the roof. The DAMAC Bay 2 contract bring Otis' total orders with DAMAC to 88 elevators. This includes 72 SkyRise and 18 Gen2^® systems in six projects throughout Dubai. "These orders reflect the trust DAMAC places in our technology and service, and they underscore our growing footprint in the Middle East," Marks said.