Major Dubai developers are so confident in the emirate’s future stability that even can guarantee their customers a rental income in the amount of 8% per annum for the first three years after property acquisition.
DAMAC Properties is today one of the three largest property developers in Dubai and the UAE. The company has already handed over 14,375 houses in the "future city", while the whole constructor’s portfolio includes more than 37,000 units at various stages of completion with 13,000 units of the hospitality industry.
Rental income in Dubai is not taxed, and the size of the potential property capital growth gives reasons to believe that investing in Dubai property is one of the most reliable and profitable investments ever, said Niall McLoughlin, Senior Vice President, DAMAC Properties.
"We strongly believe that Dubai is set for stable growth in the medium term and we are backing that up by offering a 24% rental guarantee to give reassurance to buyers," McLoughlin said. "Eight percent 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."
Despite some pessimism of certain analysts, the recent Knight Frank's The Hub report has shown that USD 3 million invested in Dubai's real estate in the past few years have now turned into USD 4.8 million. Such real estate income rate of growth exceeds even that of such world capitals as London, New York, Hong Kong and Singapore.
"When you also factor in the potential for capital growth, I don't know of a better, more secure investment opportunity anywhere," McLoughlin added.
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.