Developers in Dubai are offering some great property deals to ensure that they keep the momentum going in the property market and ensure that they are not left with unsold stock.
Many private developers already offer property deals where they pay the four per cent cost of registration to the Dubai Land Department, as well as generous post-handover payment plans on property purchases.
In addition some developers are also including deals where they will guarantee the rent for investors who buy their properties.
The new property deals being offered are a far more practical alternative to the free cars and holidays often offered by developers in the past.
Most of the property deals tend to be for off-plan properties, and they seem to be popular considering that 58 per cent of all residential property deals in Dubai in the first four months of 2017 were for off-plan properties.
For off-plan property, investors are looking for return on investment. So, if a developer will offer guaranteed returns, that can be a big plus point, particularly for overseas property investors.
Sanjay Sachdev, MD, sales and marketing, Sobha Group, said: ‘Buyers always want some ‘deal’ if they can get it. It’s human nature. We all ask for a ‘deal’ in life. That does not mean we need to give these sweetened deals all the time. Basically promotions work if you use them wisely. Moreover, nothing beats quality, timely delivery and a great location.’
Founder and chairman of Danube Group, Rizwan Sajan, commented: ‘In a robust market like the UAE, developers have to be innovative with their offerings in order to grab market share and the attention of potential buyers. Buyers these days have the option to choose from many and factors such as guaranteed rental returns and payment plans helps customers get added value in the offerings available.
‘We entered the market in 2104, where we not only offered affordable prices but also a solid payment plan. This has helped us sell all our projects till date.’