Business & Money | Monday 26 December, 2016 1:15 pm |

This Dubai Shopping Festival (Dec 26, 2016 to Jan 28, 2017), DAMAC Properties is offering a brand new BMW or another luxury car - guaranteed with the purchase of a luxury apartment starting from AED 599,000.

Niall McLoughlin, Senior Vice President, DAMAC Properties said: “We’re pleased to offer investors a unique opportunity to experience the pleasure of luxury with DAMAC and drive away in a BMW or another luxury car, when they invest in a property across select luxury developments in Dubai. From luxury apartments overlooking Dubai Canal to branded residences in Dubai Marina, this offer allows property buyers not only to live the luxury, but to drive it too.”

Known for its big deals for discerning customers, DAMAC has been at the forefront of luxury real estate development in Dubai. In addition to its promotions, the company stresses high appreciation potential and returns in the Dubai property market.

“With the city’s development still on the rise, there’s no better time than now to invest in property that will show high appreciation in the years to come. With Dubai’s real estate returns averaging at 7-9%, easily 2-3% higher than its matured international counterparts like London, New York or Paris, the city becomes a more attractive investment destination. In prime areas, even a 10-12% return isn’t uncommon,” added McLoughlin.

According to recent reports, the UAE’s real GDP is expected to grow 4 to 5% between 2017 and 2020. Country-wide contracts worth around $22.6 billion were awarded during the first half of 2016, mainly driven by real estate, power and transport projects in Dubai. The exponential rates of development coupled with a maturing property market that offers strong returns makes Dubai a global hotspot for real estate investments today.

 “The market value of Dubai’s real estate sector also receives a push from socio-economic factors such as continuous population growth, expanding job markets, rapid infrastructural development, increasing tourism and retail growth – leading to a boost in the desirability and profitability of real estate,” McLoughlin concluded.

As of 30th September 2016, DAMAC Properties has delivered approximately 16,800 homes. The company has a development portfolio of over 44,000 units at various stages of progress and planning, comprising more than 13,000 hotel rooms, serviced apartments and hotel villas, which will be managed by its hospitality arm, DAMAC Hotels & Resorts. With vision and momentum, DAMAC Properties is building the next generation of Middle East luxury living.