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Damac Properties has launched a rental guarantee programme on selected units in Dubai, offering buyers 24 per cent return on investment in three years. Under the programme, owners will enjoy returns of 8 per cent a year for the first three years following the handover of the units.
“We strongly believe that Dubai is set for stable growth in the medium term and we are backing that up by offering a 24 per cent rental guarantee to give reassurance to buyers,” said Niall McLoughlin, Senior Vice-President of Damac Properties. “Eight per cent 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.
“We have seen quite a bit of scaremongering in the market in recent months, which can have a detrimental effect on sentiment in the market. By providing such a high, tax-free offering on our units, we are putting our head above the rest and underwriting any fluctuations that may occur down the line. When you also factor in the potential for capital growth, I don’t know of a better, more secure investment opportunity anywhere.”
Included in the rental guarantee programme are selected villas at Akoya Oxygen and Akoya by Damac master developments, Damac Towers by Paramount Hotels and Resorts (A, B and D), NAIA Ghalia, Damac Maison Majestine, Merano Tower, Paramount Tower Hotel and Residences, Damac Maison Privé (A and B) and NAIA Vantage.
Damac has delivered 14,375 homes and has a portfolio of over 37,000 units at various stages of progress and planning. It also has more than 13,000 hotel rooms and serviced hotel apartments under development, which will be managed by Damac Hotels and Resorts.
Source: Property Weekly