Thursday, June 19, 2014

Dubai is safest in the world to invest in luxury properties: Damac

Dubai is one of the safest places in the world when investing in luxury real estate, given, its increased regulation and transparency, leading developer Damac Properties pointed out.

With growing interest in Dubai properties from African investors, Damac is launching a brief campaign across the region which highlights the investment opportunities in the emirate, with prices of luxury properties starting from $149,000.

As per the latest index by Knight Frank, Dubai recorded a strong growth last year, with rentals being 14 percent higher towards end of 2013, partly due to stringent investment regulation, which added to the perception of Dubai being a ‘safe-haven’ in the Middle East.

Dubai is also working towards creating a transparent process for buyers and tenants to increase their confidence in the market and make it easier for international clients to carry on business in the real estate sector in the emirate, said Niall McLoughlin, Senior VP, Damac.

Now there is increased investment from African buyers who seek to capitalise on the tax-free income and stable economy.

Based on latest rules in Dubai, developers should now provide four key documents to any buyer including the title deed of the project, details of Escrow account dedicated to the project, deal with main contractor and approvals from Dubai Land Department and RERA (Real Estate Regulatory Authority) to launch the project.

The Knight Frank report further said that prices for prime residential locations may rise by 15 percent this year, as they are still one-third below their previous peak. With Dubai’s announcement about World Expo 2020, prices will rise further, and tourism numbers would increase to 20 million over next six years.

The company also launched a dedicated website for investors who are interested in knowing more about Dubai, and the regulations and opportunities. The site also details latest trend in property market, apart from videos of most famous landmarks in Dubai.

1 comment:

estays said...

I like your site it all about Dubai, very interesting one.
Thanks for sharing.