From 24% Rental Guarantees to Paramount Hotel & Resort-Branded Hotel Rooms, DAMAC Setting the Agenda
DAMAC Properties, the region’s largest luxury private developer, is again setting the agenda at this year’s Cityscape Global 2013 with the launch of its largest product range to date.
DAMAC Properties is bringing to market the third phase of DAMAC Villas overlooking the Trump International Golf Club, Dubai at its 28 million sq ft master development, AKOYA by DAMAC.
In the last couple of days, DAMAC Properties has already launched FENDI-styled Villas and The Trump Estates at AKOYA by DAMAC, the companies golf community just off Umm Sequim Road. In addition to the high-end luxury villa complexes including DAMAC Villas by Paramount, the DAMAC Villas will offer an unrivalled luxury at a price point available to many.
During the show, DAMAC Properties will also be showcasing Golf Veduta – serviced hotel apartments and villas offering uninterrupted views of the golf course. The unrivalled urban architecture blends into the natural surrounds and is offered in studios, one, two, three and lavish four bedroom units.
DAMAC Properties is also providing a rental return guarantee for every Golf Veduta property sold during Cityscape Global 2013. Buyers placing their new units into the DAMAC Maison management rental pool, will be guaranteed a return of 24% over the first three years. The units come fully serviced with a dedicated kids club, fully-fitted kitchen’s throughout, a 24-hour concierge service, in-room personalized services and a modern wellness centre.
“Buy a unit, place it in the DAMAC Maison rental pool, and be guaranteed a return of 24% on your investment in the first three years. We will look after everything else – finding tenants, keeping the luxury apartment spotless and collecting the rent on your behalf,” said McLoughlin. “We believe Golf Veduta will be one of the most attractive investment opportunities during the show.”
DAMAC Properties will also be highlighting its project range with Paramount Hotels & Resorts during the exhibition. Exclusive Hotel rooms at DAMAC Towers by Paramount and Paramount Hotel, Jumeirah Waterfront, Dubai will be made available at promotional rates. Both projects allow investors to own their own fully-serviced room and capitalize on the booming Dubai hotel market.
Investors can buy a hotel room for as little as AED 999,999 and achieve strong rental returns when the room is rented out by DAMAC Properties’ management arm, DAMAC Maison.
“DAMAC Maison takes all of the stress out of trying to find a tenant, maintain the property and do the paperwork,” added McLoughlin. “DAMAC Towers by Paramount and Paramount Hotel, Jumeirah Waterfront, Dubai create a unique opportunity to buy into the booming tourism market in Dubai, with a relatively low initial investment. You own the hotel room, you can stay in it for a fortnight each year and for the rest of the time, we pay you returns based on occupancy – it’s a great concept we expect will grow rapidly in Dubai.”
The latest HotStats report for August show Dubai hotels experienced a year-on-year rise of 11.3% in Average Room Rates (ARR) to US$228.99, with an 8.5 percentage points rise in occupancy to 71.3%. The RevPar for the month jumped 26.4% to US$163.35 and hotels also experienced a 20.1% growth in Total revenue per Available Room (TrevPAR) supporting a 98.3% increase in Gross Operating Profit Per Available Room (GOPPAR) to US$70.63.
DAMAC Properties stands alone in the Dubai real estate market for its unrivalled global brand associations. The company is collaborating with Italian fashion houses, Versace and FENDI as well as America iconic brands Trump and Paramount Hotels & Resorts to bring a new concept of high end lifestyle living to Dubai.
DAMAC Properties is participating at stand B10 in Hall 8 of Dubai International Convention and Exhibition Centre (DICEC) from 8-10 October 2013.