Developer Driving Property Sales

Overseas property investors looking to purchase property in Dubai could find themselves the owner of a luxury car.

Property developer Damac are offering a BMW or other luxury car with every apartment purchased worth more than AED 599,000 ($163,000).

The offer is being made by the company during the Dubai Shopping Festival that runs until January 28, and could include the hybrid sports car BMW i8.

Damac often makes these offers during the Dubai Shopping Festival, offering Lamborghinis and BMWs during the last annual festival.

Senior vice president of Damac Properties, Niall McLoughlin, 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

‘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 per cent, easily 2-3 per cent 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 per cent return isn’t uncommon,’ he said.

‘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 added.

No doubt the company hopes that this offer will help to drive new customers their way.