This strategic partnership reinforces DAMAC International's entry into the Southeast Asian market and reflects the mutual positive outlook of both companies, which assess that there is an increasing demand for high-end real estate in this region.

          Thailand, November 1, 2017 – Pacific Star Development Limited (“PSD” or “the Company” and its subsidiaries referred to as “the Group”) is a real estate developer focused on the ASEAN region and listed on the Singapore Stock Exchange. Today, PSD Singapore (PSD Singapore Pte. Ltd.), a subsidiary, announced its collaboration with DAMAC International, a Middle Eastern real estate developer, to jointly develop luxury real estate projects in several key cities across Southeast Asia over the next five years.

          This partnership enables both leading real estate companies to collaboratively develop high-end properties throughout the Southeast Asian region, with Malaysia and Thailand as primary markets, along with Vietnam, Indonesia, and Singapore. Both developers will jointly identify prime locations in major cities to leverage their strengths in developing residential, hotel, and retail projects.

          “DAMAC International is the perfect partner for PSD as our goals in the Southeast Asian market align. We are excited to seek joint ventures with a successful and well-recognized company in the real estate industry like DAMAC,” said Mr. Glen Chan, CEO and Managing Director of PSD, who recently received the "2017 Malaysia Real Estate Personality of the Year" award at the PropertyGuru Asia Property Awards (Malaysia) 2017. “We are looking for broad development opportunities that can capitalize on urban expansion, favorable demographics, and tourism growth in Southeast Asia. DAMAC International's strengths provide a clear advantage in these markets as they demonstrate leadership in global project development, innovative sales and marketing strategies, and enhance the efficiency of value-driven presentations.”

          “Thailand is one of the key markets for this strategic partnership as foreign investors continue to show high demand in the high-end condominium market,” Mr. Glen added.

          DAMAC International is part of the DAMAC Group, which develops luxury real estate in the Middle East and has delivered projects totaling over 19,000 units in the region. Currently, DAMAC Group has more than 44,000 units under development, including 13,000 hotel units in various stages of completion.

          “The partnership between DAMAC International and PSD will create significant opportunities for expansion, allowing both developers to leverage each other's strengths to bring innovative high-end real estate products to new markets in Southeast Asia,” said Hussain Sajwani, Chairman of DAMAC. “DAMAC International has been one of the most successful developers in the Middle East for the past 15 years, and we aim to bring that potential to international markets alongside leading partners like PSD.”

          PSD has successfully delivered international standards in the high-end real estate sector and possesses deep market insights across various countries. Additionally, PSD will leverage its existing potential in holding prime locations in Southeast Asia through a strong value chain network in the region.

          DAMAC Group's diverse real estate development projects include branded properties, hotels, and serviced apartments in the Middle East and the UK. DAMAC has successfully collaborated with global brands such as The Trump Organization, Tiger Woods Design, Versace Home, Fendi Casa, Paramount Hotels and Resorts, Roberto Cavalli Group, and Bugatti to deliver award-winning signature properties over the past 15 years.

Thank you for the information from www.pacificstar-dev.com