McLoughlin pointed out that certain specific sectors in the emirate were showing encouraging results for the company. "Serviced apartments are seeing the biggest growth for Damac Properties in recent months with clients demanding the highest quality design and finishing," he added. Citing the latest report from independent global property consultancy Knight Frank, which tracks the top five per cent of mainstream housing markets, Damac said Dubai's market continued to see an upturn in real estate valuations in the luxury sector. The report comes as the Dubai Land Department announced the highest number of unit sales and unit value recorded during any July on record, reaching more than Dh2 billion. Knight Frank report said Dubai remained in the top performing 15 cities worldwide and number one in the Middle East throughout the second quarter with buoyant Asian markets and resurgence in the main European capitals providing a stimulus for growth.