Dubai-Mubasher: Damac Properties launched a 24% rental guarantee on selected units in Dubai, encouraging investors looking to capitalize on attractive prices in the Dubai real estate market, according to a statement.
Owners will be able to receive 8% returns annually for the first three years following the handover of the units, according to the luxury developer’s statement.
“Eight percent a year return for three years is at the top end of any real estate market in the world and we are the only luxury developer in Dubai currently offering such a secure investment proposition,” said Niall McLoughlin, Senior Vice President, DAMAC Properties.
A $3 million investment in Dubai real estate would be worth $4.8 million in today’s market – more than any other global city, according to Knight Frank’s The Hub reports.
The projects included within the 24% rental guarantee are selected villas at AKOYA Oxygen and AKOYA by DAMAC master developments, DAMAC Towers by Paramount Hotels & Resorts (A, B and D), NAIA Ghalia, DAMAC Maison Majestine, Merano Tower, Paramount Tower Hotel & Residences, DAMAC Maison Privé (A and B), and NAIA Vantage.
As of 30 September, the real estate developer delivered 14,375 homes and has a development portfolio of over 37,000 units at various stages of progress and planning.
There are more than 13,000 hotel rooms and serviced hotel apartments under development, which will be managed by its hospitality arm, DAMAC Hotels & Resorts.
