Damac Properties offers 24% rental guarantee
Damac Properties launched a 24% rental guarantee on selected units in Dubai, providing investors with the opportunity to capitalise on prices in the Dubai real estate market.
Owners will be able to receive 8% a year returns for the first three years following the handover of the units. Niall McLoughlin, SVP at Damac Propertie said that 8% a year return for three years is at the top end of any real estate market in the world. “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.”
While some recent reports have pointed to a softening in the market, Knight Frank’s The Hub reports showed that a $3m investment in Dubai real estate would be worth US$4.8 million in today’s market – more than any other global city including London, Paris, New York, Hong Kong, Singapore and Sydney.
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.